It's often said we get the government we deserve, but do we really deserve as little as we are getting in Sacramento at the moment. According to one ranking we have moved down one slot to Number 50
California has moved down one slot on from last year to earn the title of the worst-run state in the country. In the fiscal year 2009, the state spent $430 billion, roughly 14% of all the money spent by states in that year. Compared to its revenue, the state spent too much - California had the 10th lowest revenue per person, and spent the 15th most per person. California is the only state in the country to be rated A-, the lowest rating ever given to a state by S&P. Despite the huge amount the state spends each year, conditions remain poor. California has the second-lowest percentage of adults with a high school diploma in the country, the second-highest foreclosure rate and is tied for the second highest unemployment rate in the U.S.
And the governor's response to all this and a $12.9B deficit over the next 19 months is:
Under the governor's proposal, California would impose a half-cent sales tax increase starting in 2013 and an income tax hike on high-income earners retroactive to January 2012. Both would expire at the end of 2016.
The upper-income tax hike would start with a one-percentage-point increase at $250,000 for individuals and $500,000 for joint filers. A separate increase would charge 1.5 percentage points on income between $300,000 and $500,000; a third bracket would impose two percentage points on income above $500,000 for individuals. (Amounts are double for joint filers.)
And to continue supporting the High-cost Rail nonsense that has ballooned to $100B. One of his appointees to the Authority has a letter in today's Wall Stree Journal that reads like medical marijuana-induced fiction. Meanwhile, CSU tuition hikes are planned at +16% and the budget trickery that is happening basically just sends the costs to the counties and cities. Very sad. Remember this when you are voting on the next set of Propositions.
Comments