As the world focuses on the European debt crisis, and all of those crazy elections in Greece, Egypt and so on, maybe we should look west and check out California.
Do you see those California license plates driving around your state? They are taxpayers fleeing the state. Yes, taxpayers such as people who create jobs and pay the taxes!
Check out what Arthur B. Laffer is saying. He is the chairman of Laffer Associates, a macroeconomic
research firm, and Laffer Investments, a money-management firm. He is
the author of Eureka! How to Fix California:
"Firms, people, investments, and tax revenues are fleeing California,
repelled by the most onerous antigrowth business environment in the
United States.
California’s after-tax rate of return for doing business
lags so far behind other states’ (especially zero-income-tax competitors
such as Texas, Tennessee, and Florida) that the exodus shouldn’t
surprise anyone.
Yet the state’s Democratic leadership is pushing a
November ballot measure aimed at raising income and sales taxes in order
to make up for lost revenue.
Tax hikes, especially during trying economic times like these, make
no sense. Economies don’t tax themselves into prosperity. What
California needs is a radical tax overhaul—to be precise, a single,
low-rate flat tax. Such a reform would spur a renewal of economic
activity and investment while continuing to raise the revenues that the
state needs."
We need California back in the union. Let's help our friends in California take back their state!
Tags: What's wrong with California? ! To share or post to your site, click on "Post Link". Please mention / link to the My View by Silvio Canto, Jr. Thanks!
