January 7, 2013 Rough raod ahead!
The bad news continues and the Governor continues to ignore it! When will he wake up? Not until he is removed from office, the fact is all the needy people the useless people voted for this clown and the unions are backing his destructive moves. As more and more companies leave California it must be remembered that there are fewer tax dollars coming into the state treasury so the incompetent left wing liberal socialist democrats think raising everyone Else's taxes to make up for the lost revenue is the way to keep spending money they are not entitled to spend because they are thieves and nothing more!
Barack the illegitimate Obama and his liberal cronies want to tax, tax and tax and then tax some more anyone making over $250,000 per year. They claim it will help increase government revenue which in time will help spur the economy. That is not going to happen, as a matter of fact the other day I read an article that stated since Brown's prop 30 initiative passed less revenues are filling California coffers, the fact is that the middle class who earn 250 thousand annually and up are moving out of state, as well as many businesses leaving, so the dream that the coffers will some how magically fill with California gold will be just a dream and the dreamers once again fail to do what is right!
The state of California has been doing that very thing. They have the highest personal income tax fees of any state. Middle class workers making more than $48,000 per year pay a state income tax rate of 9.3%, which is higher than what millionaires pay in 47 other states. Even with the high tax rates, they still have the greatest deficit of any state and things are getting worse, not better.
Because of the high personal and business taxes, businesses and citizens are leaving the state in droves. According to a report by issued in January 2012 over 254 businesses moved all or part of their operations out the state in 2011. This compares with 201 companies that left the state in 2010 and only 51 companies in 2009.
CEO Ronald Mittelstaedt of Waste Connections stated that: the other part of the scenario is the cost of doing business in California, they have the highest tax rates in the nation! Until recently the highest costing real estate! Tremendous regulation and a really broken legislature! Something that has a built in structural deficit that's not going to improve. The reality is this is just a difficult place to do business!
If California is any indication once Obama starts raising taxes on Americans making 250 thousand annually and more which by the way does include most business owners large and small we will see another exodus of business from the great state of California to countries like Mexico, India, China, Japan and Malaysia so expect the worst of times under Brown and Obama!
The end result will be millions of jobs lost to other countries; leaving millions of more American’s looking for work that won’t be there. Unemployment will skyrocket and the economy will fall further into a recession and quite possibly into another full blown depression. But, hey, that’s the Democrat’s way of doing things. Aren't the liberal socialist Democrats just wonderful, NOT? OK so I do not like Jerry Brown or his anti American ways.
