But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state...do I really have to say it???
Well - One + One = Two... some arithmetic that Libs have NEVER bothered to learn. Tax increases + Increased spending = Increasing deficit. How complicated is that?
The California ‘RATS will blame it on Bush or Sandy. You can’t fix stupid.
agree with previous poster, they didn’t raise taxes enough, obviously. Then, once it gets to 100% of all income, they can nationalize all private business and property, and take all net worth. Surely that would work for them. And when that doesn’t work, well, only thing left it is to liquidate some of the uncooperative residents.
CA should probably borrow some more money and build a wall (iron curtain) to keep their people from fleeing?
As us Freepers would say, “well, durrrrrrrrr...”
In the good old days, Colorado natives had a dislike for Texans, who showed up at the winter resorts, and were a bit too ostentatious for the locals. When left coast real estate boomed, the Californians bailed out en mass when they discovered they could buy the same house in Colorado for 1/5 the cost (with 5 acres of land surrounding it). Two bumper stickers seen during that time:
“At Least the Texans Went Home after Ski Season”, and, later:
“Don’t Californicate Colorado”
>>> .... California State Revenues in Freefall
WHAT in the world does that have to do with things?
Democrats designed the scheme to give them absolute power, absolute control, over The People. They have completely destroyed ‘their enemies’. Look at the CA repub in shambles. It worked, didn’t it?
Do you think they fear People rise up and oppose them? No, those who are able, left.
For those who are considering a move to N Nevada to work in the Reno/Carson City/Sparks area, I have a rural property all set up for horses.
Need to move closer to a family member who has health issues.
I have a CASH finder’s fee on this property. Contact me if you are interested.
But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state...do I really have to say it???
Headline should read: “Because of Tax Increase, Tax Revenues Fall”
This is one point that the old-school democrats and republicans could agree on, that if you lower the tax rate, you’ll increase tax revenues. JFK proved this. Reagan proved this.
This is the point of the Laffer curve, that the tax rate has a peak where it will cease to result in higher tax revenue, once you reach that peak, if you raise the tax rates higher, revenue will fall off as the workers and producers will take offense at being robbed and will have a vested interested in finding ways to hide their money and protect their earnings.
We must now assume that the politicians who seek to raise the tax rates know this to be an undeniable truth and that they are raising the tax rates not (as they claim) to increase tax revenue, but to punish the workers and producers.
Again, their end goal is to perform a Trayvon type smashing of the head of their opponents into the sidewalk, spitting in our face as they crush our skulls saying, “Don’t you ever...EVER deny me the power to do whatever I want. You deserve to be punished. And I’m going to punish you until you wish you’d been born and raised in the poverty of a third-world country, which is what we are going to turn America into.”
I was talking to a director of a major California company. They have operations worldwide but are heavily California-centric. He said they’d convened the corporate planning team the day after the election. He also said that they earlier had moved a major program from LA to Tennessee. They offered a move package but expected few people to take it. They were stunned to find that everybody took it.
He said that most likely the company would begin moving more and more projects to other states and not replace their California staffs as they retired or were laid off.
They can get behind the Detroit City Council in demanding that Obama bail them out as a quid pro quo for their votes. That will be quite a line.
frigging idiots.
I liked this line from above article.
-
there was welcome news that a business had committed to opening in the State. Executives of the 99 Cents Only Stores Inc. proclaimed they would be opening a new location in Beverly Hills on formerly posh Rodeo Drive.
“... resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.”
HAHAHAHAHAHAHAHAHAHA!
I mean....who woulda guessed???
Take note zero and reid and all you silly dumbles.
You too Boehner...stand and FIGHT! You have proof: what they want doesn’t WORK!
Filed as “No Shit Sherlock”.
Neither Kalifonia nor the federal government gets it. I happily left that Socialist Republic more than a decade ago when Gray Davis was busy driving it into the ground. Wish it were as easy to escape the heal of the feds.
They’ll keep pushing the tax button until the whole thing collapses around them.