Beam me to Planet Gore !
Posted on 04/24/2009 12:04:30 PM PDT by TenthAmendmentChampion
PRESIDENT OBAMA’S PROPOSED FEDERAL SPENDING WILL TOP $4 TRILLION this year, about 29 percent of GDP-exceeded only by spending during World War II. Then there are the Administration’s plans to add $1.9 trillion in new taxes. This heady sum can hardly come from just the so-called rich as he claims. In addition, the cap-and-trade carbon tax will demand another $648 billion and will hit anyone who consumes energy, which means everyone. The President tells us that the higher taxes and enormous public spending are necessary to pay for recovery and deficit reduction.
One needn’t look too far to see how a platform of higher taxes, huge budget deficits, and growth of government at the expense of the private sector plays out. California, for the fifth year running in CE’s annual survey of Best and Worst States in which to do business, has taken top honors as the least congenial place to do business.
There are a host of reasons why the Golden State has become toxic to business, ranging from the highest personal income tax rate in the country (small business owners are especially hard hit by PITs), to a regulatory regime that has driven energy costs so high that businesses simply can’t compete. California businesses paid $73.7 billion in state and local taxes in 2008, 28 percent more than businesses in any other state, according to an Ernst & Young report. That is one reason why even California- based businesses are expanding elsewhere, from Google, which built a server farm in Oregon, to Intel, which opened a $3 billion factory for producing microprocessors outside Phoenix.
Under Republican governor Schwarzenegger the state budget actually grew even faster-10 percent annually as opposed to 7 percent-than under his spendthrift Democratic predecessor, Gray Davis. The problem is that there are consequences, as California state senator George Runner recently told a Nevada business group.
“There has been a complete denial of behavior that takes place when you decide to tax somebody differently,” he said. “You’re going to put higher taxes on the folks with the highest income, and the greatest flexibility to deal with where they get their income and where they take their income. As a result, we will not see additional revenue. In fact, we will see decreased revenue.” Let us hope that the lessons from Sacramento are not lost on the solons of D.C.
These b*stards are going to ruin all of us.
Now more expensive biofuel added to the mix. Every move that Sacramento makes drives out more business and more people. It will be interesting to see how much the tax revenues decline this tax season. I’ve heard they are almost half of last year.
It is also driving more business’s black. Small business men are soliciting cash to avoid taxes. Already are thousands of illegals working for cash..now legals as well.
The return is just too great..cash versus taxes.
Lived in Germany for many years. “ Black money “is the way that many Germans of all classes dealt with the demands of their welfare state. The government changed the rules but people adapted by hiding their money better.
I seem to remember that when the democrats swept into power in 1998 in California they were gloating about how California could now be used as kind of a “Test Lab” to show everybody what a great job they could do running things. Anybody else remember them saying that?
Thanks Steel!
The unions run Cali and NY, thats why both states are in crisis. Financial collapse is the only way to change that. You cant spend your way out of debt. If you could, no one would go bankrupt.
The most difficult statement for a human is to say....”I am wrong”
So long as wrongness is denied, the cancer will continue to grow. The corrupt criminals prosper while the body supporting it dies.
Thank YOU, Champ.
I think it’s even harder to say “I have sinned”.
...the cap-and-trade carbon tax will demand another $648 billion and will hit anyone who consumes energy, which means everyone. The President tells us that the higher taxes and enormous public spending are necessary to pay for recovery and deficit reduction.
Stop calling it that.....
.....I hasn't been "golden" in a long time.
It's more like "Fools Gold".
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
