We all knew it was coming, and now it’s here. Amid the worse economic downturn since the great depression, Sacramento has voted for a budget that includes massive tax increases for the already reeling California taxpayer.
Sales tax, income tax, vehicle licensing fees, you name it, and they’ve taxed. it. Already one of most highly taxed states in the nation, this is sure to fuel the exodus of taxpayers to other states.
The state has increased spending by 40% in the last 5 years, yet they still managed to not only spend all that extra revenue, but borrowed until the state until it achieved the dubious distinction of have the lowest credit rating of any state in the union. We’re talking (depending on who you ask) between the 6th and 8th largest economy on earth, yet even with that overwhelming economic power, the socialists in Sacramento managed to blow it all to the point where the state must now release dangerous convicts from prison to relieve overcrowding. Hey, thugs need love too. Yes, California is the handout capital, and one of the many reasons for its decline.
And no massive citizen ripoff would be complete without its share of pork. In addition to the union based welfare, private companies get in on this party as well.
– Speeds up construction on 10 state public works projects, 5 local transportation projects and 10 redevelopment agency projects and 5 state office buildings by allowing one company to do both the design and construction.
A good chunk of this budget depends on continuing revenue from the chumps that actually stay in California and tough it out. The number of chumps is declining though, and being replaced by those that need those taxpayer funded social programs. Oh, yeah, next year will be another ATM moment for Sacramento, so either hang on to your wallet, or do what the smart taxpayers are doing: getting the hell out of Dodge…