Posted on 06/13/2023 5:05:01 AM PDT by ChicagoConservative27
“California continues to be the dominant economic engine for the American economy”
Duh, it is the biggest state by population and has been for about 50 years, SF is full of zombies
3% of over 31 million is alot different than states with 4 million losing population.
He had ‘a large surplus’ & now they are in the red-——
Newsom depends on 1% of the population to pay 50% of the state taxes - and that 1% is moving out. What are you going to do then, Newsom? What is moving in has 1/2 of the salary of those moving out. How is that sustainable?
"The state’s increasingly bifurcated economy involves higher welfare expenditures—California spends a larger share of its budget on welfare than virtually any state, Governor Gavin Newsom’s go-to solution to the state’s embarrassing poverty rate—and growing dependence on the rich for tax revenues."
Explain this, Newsom, from the Heritage Foundation?
Why Company Headquarters Are Leaving California in Unprecedented Numbers "We document that these headquarter exits have more than doubled in 2021. We discuss several economic factors that have led to these departures by raising business costs, reducing productivity, and reducing profitability, including tax policies, regulatory policies, labor costs, litigation costs, energy and utility costs, and concerns about a declining quality of life within the state.
https://www.hoover.org/research/why-company-headquarters-are-leaving-california-unprecedented-numbers
https://www.city-journal.org/article/can-california-be-saved
It either is a bad quote, or he meant otherwise - CA GDP grew by 7.8%:
https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
Translation: California has enough illegals to cover the loss
of the thousands that moved out.
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