Posted on 11/11/2017 6:20:25 AM PST by artichokegrower
California likes to boast that its booming economy is the sixth largest in the world – as calculated by its own state government. In contrast, rust belt states like Michigan and Ohio are seen as pathetic economic has-beens by the self-congratulating liberal elite.
Not so fast, says Carson Bruno in Real Clear Markets. Adjust for cost of living, which is 36% higher than the national average, and California comes out behind Mexico:
(Excerpt) Read more at americanthinker.com ...
It’s sadly all true. But then I don’t see anywhere where a $6,000 investment in a $30,000 “first home,” 51 years ago would have left us with our present home with a value of $2.2 million and property taxes protected by Prop 13.
I used to have two groups of relatives living in California. One is a career military family and was transferred out about 3 years ago. The other family is native to California and stuck there for economic i.e. job reasons.
In the news there seems to be a race to see which will collapse first, California or Illinois. I would hate to bet on the lasting power of either one. It would require a heck of a lure to get me to move to either one.
I used to have two groups of relatives living in California. One is a career military family and was transferred out about 3 years ago. The other family is native to California and stuck there for economic i.e. job reasons.
In the news there seems to be a race to see which will collapse first, California or Illinois. I would hate to bet on the lasting power of either one. It would require a heck of a lure to get me to move to either one.
Obviously CA will have to raise taxes.
In CA, people get to live in very modest homes at very great expense. With the illegals allowed to enter freely (and get free healthcare, education, and welfare), areas of the state are coming to look like third world slums. In March, my son and I took a train to CA, which really gives a perspective not seen when taking airplanes. In the Bay Area, illegals live in shacks made out of trash, no doubt similar to the living conditions they left behind in whatever third world h*llhole they came from. Up in Sonoma County, some areas look the same as they did when I was a kid—never renovated, hardly even maintained.
I grew up in a beautiful state. But its beauty has faded, destroyed by the implementation of liberal policies over decades.
Which it resembles more and more every day!
California is heading for the gated community/favela model.
I assure you, Prop 13 was fought at every level of state government, it was something we imposed on the all powerful state.
State government is STILL fighting and scheming against it.
When they succeed, and they will, California will implode.
BTW, are you interested in buying a rental home in San Jose?...
I started doing this state GDP adjustment with COLA over a decade ago.
Plus they’re subsidized by us to the tune of about 30 to 40 billion a year in the form of SALT deductions.
The GOPe tax bill addresses this by removing the property tax deduction exclusion.
“Plus they’re subsidized by us to the tune of about 30 to 40 billion a year in the form of SALT deductions.”
Well put. I am very happy SALT is finally in the mainstream, that high tax liberal States are being subsidized by the rest of us.
Here they live in single wide mobile homes that have been illegally moved onto lots with sewage running out onto the ground. Then when someone turns them in and the health department shuts them down the county finds places for them to live. I just shake my head.
Thanks artichokegrower.
It’s already here. But they’re finding out the gates don’t stop them. Daughter lives in a new gated community on the edge of town. They have to disable their garage door at night because of the breakins. Every couple of weeks a company is out fixing the main gate because they just use a truck and keep pushing on it until it opens. Then they drive through the neighborhood with garage door openers, punching them until someone’s garage door just opens. They also hit the community mailboxes while they’re in there.
You live near Salinas right?
Take a drive north from there all the way to Santa Rosa and then come back and tell us California’s economy is collapsing.
There’s a LOT of things about this state that are bad.
But the economic engine is not one of them. There’s so much money here I’m surprised the streets are not paved with it.
“Plus they’re subsidized by us to the tune of about 30 to 40 billion a year in the form of SALT deductions.”
Nonsense.
CA is a net donor state, sending more money to DC than it receives back in expenditures of any kind.
“A full 50% of the California economic growth miracle comes from a few dozen Silicon Valley firms – think Apple, Google, Facebook. It’s a banana republic of high tech.”
Most prosperous economies are strengthened by just a few big companies, and I bet that Michigan and Ohio would be more than happy to have Apple, Google and Facebook headquartered in their states.
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