Posted on 11/13/2016 4:43:45 AM PST by Kaslin
I’m an Enrolled Agent tax pro based in California with clients all over the country. Recently, the son of a client who had moved to a more free state than ours asked whether I thought he should move back here to start a business.
I suggested not. Why?
While California suffers from the highest income tax rate in the country and mountains of regulations that cause everything from housing costs to the price of power to be among the highest, the most destructive regulation of all is arguably an up-and-coming one. It mandates annual increases to the minimum prices of wages. They will go from $10.50 to $15 per hour in five years -- a nearly 50% increase, which will end up at twice the current national minimum wage.
I love higher real wages, created by supply and demand and fueled by increasing productivity as people voluntarily interact in the marketplace. But government can’t create wealth by mandate. If it could, why doesn’t it reach all the objectives of a minimum wage in one fell swoop and enact a minimum of $100 an hour? It can’t. Government is, however, very good at destroying jobs and incentivizing the reallocation of jobs to more highly skilled people and even to robots.
Today, apart from teenagers and other unskilled people with little job experience (especially in rural areas), very few workers actually earn the minimum wage. As that minimum is hiked, more workers will earn it, true -- at least the ones who manage to get and keep a job. But unfortunately, there will be fewer of them.
(Excerpt) Read more at americanthinker.com ...
Make California Great Again
Interesting article
Regulations have made it so teenagers cannot get many entry level jobs. My first real job at 14 at a fast food restaurant, I fried french-fries and sliced roast beef on a power slicer.
The government now prohibits anyone under the age of 18 from using dangerous equipment or exposure to possibly harmful chemicals unless you work on your parents farm. I don’t think basket weaving is worth $15/hour.
Little known fact, if Trump won a state by 20k votes and there are 12k ballots uncounted they usually don’t count the remaining ballots.
Kookifornia...I wish someone would tell the California Republicans to wake up and fight Liberals...most of CA wasn’t blue...
It wouldn’t be necessary because most of those 12,000 votes would have gone to him anyway, I am sure.
My point is his vote total is higher. But I read yesterday that he passed her in the popular vote too.
Ping coming up in a few minutes
I don’t believe that is correct. You have all the other offices and ballot measures that need to be counted.
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