Captain Ed has a great post about California and all of those regulations driving taxpayers and employers to Texas or somewhere else: Regulation costs California economy almost $500 billion!
It is truly amazing:
"The study finds that the total cost of regulation to the State of California is $492.994 billion which is almost five times the State’s general fund budget, and almost a third of the State’s gross product.
The cost of regulation results in an employment loss of 3.8 million jobs which is a tenth of the State’s population.
Since small business constitute 99.2% of all employer businesses in California, and all of non-employer business, the regulatory cost is borne almost completely by small business.
The total cost of regulation was $134,122.48 per small business in California in 2007, labor income not created or lost was $4,359.55 per small business, indirect business taxes not generated or lost were $57,260.15 per small business, and finally roughly one job lost per small business."
A few days ago, we made reference to The Economist and America's future, a comparison of Texas and California.
Where would you rather open a business? It's Texas all the way!
Sadly, California has been destroyed by over-regulation, political correctness and high taxes.
Regime change? California needs one very badly!
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