Posted on 09/18/2013 6:51:22 AM PDT by SeekAndFind
With the stroke of California Governor Jerry Browns pen, what once was the Golden States brightly shining future will further dim dramatically before the ink even has a chance to dry. Thats how dire are the consequences of a minimum wage bill passed by its legislature, a bill Gov. Brown has pledged to sign into law.
While California has been on a fiscal collision course since Ronald Reagan left it for the Oval Office, the single act of signing a bill that will drive away even more businesses and residents is sure to seal the struggling states fate on the countrys list of has-beens and used-to-bes.
Certainly, at first glance, it sounds like raising the minimum wage to $10 an hour within three years is the right thing to do for those California workers who struggle beneath the poverty line. Theyre referred to as the working poor, and who doesnt want to help hard working people advance?
The answer to the above question will surprise some, but could not be clearer: the Democratic Party-controlled California Legislature and its chief executive, as evidenced by the short-sighted and ill-conceived fix that completely ignores wealth migration trends that prove people are more mobile than ever, and not at all averse to abandoning an oppressive business climate for greener pastures.
Between 1992 and 2010, California lost a staggering $45.27 billion in annual adjusted gross income (AGI), and the lions share of it went to low- or no-income-tax states that offer more business-friendly economic climates. During that time California residents who represent this mass migration of population and wealth sent their lawmakers a loud message that unfortunately fell on deaf ears.
(Excerpt) Read more at forbes.com ...
Kind of like Germany before they hauled the Jews off to the camps, ya think?
Dear Jerry:
I know your heart is in the right place. But you should understand that $10/hr is only $400/week and that’s about $20,000 a year. And that’s only true if my employer doesn’t cut my hours to 29.5 per week to make me ineligible for my badly needed Obamacare.
YOU EXPECT ME TO LIVE ON THAT???!!!
I suggest that $50/hr would be much more appropriate. That’s about a $100,000 a year and what I would call “a living wage”. So if you want my vote in the next election you will heed this warning. Either you are on our side or you are a secret Freeper or something like that.
Not so much a has-been as a never-was...
The best thing Forbes could do would be to set up an economic tracker for California.
Importantly, only a limited number of businesses are required to notify the state before they leave, so are easy to track. Most businesses just shut down, pack up and leave, with little or no notice, as long as they pay their final taxes before going.
But along with business departures, they could track state unemployment, food stamps, declining tax revenue as well as increasing tax rates across the board, durable goods orders, and many other business metrics.
The most important part would be to associate economic decline with particular policies. This would be very instructional to other states as to what *not* to do, and projected impact if they make similar law.
Dang it, we’re Number Seven. Time to set up some barricades.
The recall just threw a couple of the bums out of office. It didn’t do anything to alter the strict gun control laws that the DemoRATS passed and the governor signed into law. They still stand. So it was more for show than for substance.
Unfortunately, the liberals from out of state have flooded the urban areas, Denver especially, and turned a decidedly red state into an almost blue one. That’s because most of the population resides in the cities.
“Unions push min wages because their wages are tied to it.”
Bing, Bing, Bing, we have a winner! Unions have outlived their purpose and should be outlawed.
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