Calif. Gov. Schwarzenegger Is such A idioit to hike tax
By Daniel at 6 November, 2008, 5:19 pm
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Increased taxes will result in productivity loss and ever-higher deficits with fewer and fewer businesses and employees left to carry the load.
Insane levels of homeowner greed, Nimby “environmentalism” and public employee unions have totally destroyed California’s economy. Raising taxes feeds California’s problems, it doesn’t resolve them.
This is going to happen, state by state, then finally at the Federal level. Sales taxes can’t drop by 20% in 90-days time without some major downstream spending repercussions.
“SAN FRANCISCO (MarketWatch) — California Gov. Arnold Schwarzenegger has proposed $4.5 billion in spending cuts and $4.4 billion in tax hikes to close the state’s budget deficit, according to The Associated Press Thursday. Schwarzenegger called for a special session of the state legislature to address a deficit that has grown to $11.2 billion in just six weeks, the AP reported.”
http://www.marketwatch.com/news/story/Calif-Gov-Schwarzenegger-proposes-cuts/story.aspx?guid=%7B5185DCAA%2D5B1B%2D476F%2D923D%2D973E9A08942C%7D
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