I, for one, am all for stoopid liberals paying higher taxes while whistling the Bee Gees “Massachusetts”!
the crux of the problem – too many state employees doing too many things they should not be doing and being paid too much in overall compensation (base pay, pension and health care costs).
_________________________________________________________
There ya go...a liitle snippit of reality in an otherwise bland article on the disfunctional State of California.
Have ya seen the new report on how far under water the public employee pension system is? ....total unfunded liabilities for all benefit plans are an estimated $3.1 trillion — nearly three times higher than the plans report.
Heres the source: http://www.ncpa.org/pdfs/st329.pdf
Heres some analysis:
http://globaleconomicanalysis.blogspot.com/2010/08/huge-battle-looms-over-public-pensions.html
http://market-ticker.org/archives/2563-Reality-Beckons-Government-Pensions.html
The plan is to have the Republican Red States bail out the Democrat Blue States. BO will take care of them, as he has the union pigs in the UAW and NEA. Only when the Red States get so fed up that they quit sending money to D.C. will this theft end. They can’t put half the country in jail, so “DEFUND!” should be the anti-Socialism battle cry in ‘10 and ‘12.
Where'd he get THAT number?? Last I saw, they were a half TRILLION dollars in debt!!
There is an election in November. Nothing will happen until January and then nothing will probably happen then. I think Cal is waiting for a bailout injection of epic proportions so they don’t have to say no to any of the constituants (illegals, unions etc.).
How can he? Those jobs were given out as political patronage awards to loyal Democrats. Those salaries are payment in full for past political support, and can't be taken back by any Democrat who wants to keep his seat.
Yet another tax proposal to squeeze the “rich” by shifting the tax burden from Sales Taxes to income taxes — essentially ensuring a tax break for the unproductive who pay no income taxes.
Hiking the income taxes on the high earners just drives them out of the state. Lowering the income tax will bring them back.
A rational tax reform would be to eliminate CA’s income tax completely, and cut the sales tax rate from the current 8% down to 6% while extending it to apply to all goods and services. The lower but broader sales tax rate would bring in more revenue even before it drove the lowlifes out and brought the high earners/spenders back. Think how attractive it would make CA to businesses and high earners to have no income taxes. It has made TX one of the fastest growing states while CA has lost its productive people and attracted only lowlifes and illegals. The 6% rate means we could do it while retaining Prop 13 so we don’t get stuck with the outrageous property tax rates TX has.