Friday, November 18, 2005

The Golden State

This report discusses the state Legislative Analyst's view of California's economic outlook, which is apparently good in the short term. Then there's this information from the Tax Foundation:

  • California's tax system ranks 38th in being "business friendly"
  • "California's taxes on small businesses higher than virtually every other state"
  • "For taxpayers earning between $43,500 and $307,050 only Montana (which has no sales tax) has a higher [income tax] rate," which means a lot of middle class folks are paying very high taxes
  • "Corporations looking to relocate, or even establish, a business in the West may shy away from California, as the state's 8.84% flat rate is the highest corporate tax rate in the West. Nationally, only 10 other states have a higher top corporate tax rate than California."
  • "California's state and local sales tax rate ranges from 7.25% to 8.75%. Excluding local option sales taxes, California's statutory rate of 7.25% is the highest in the country. The sales tax affects not only consumers, but businesses as well."
And certain leading liberals want to tax the rich more to pay for universal pre-school, among other things. When there's no more rich people left to move to Las Vegas or Incline Village, who will pay for all this socialism?

5 comments:

Polski3 said...

Taxifornia. The Great People's Democrat Republic of Kalifornia.

Someday, this once "Golden State" be studied someday in a lesson on how to take an economically healthy, developing state with good school, one of the better state university systems in the world, developing transportation networks and great agricultural production and turn it into a third world shit-hole.

Polski3 said...

Excuse my writing errors in above statement. It should read:

Someday,this once "Golden State" will be studied....." Augh. Its Friday.

Darren said...

I don't know about becoming a shit-hole, but definitely an economic basket case.

Mike T said...

"For taxpayers earning between $43,500 and $307,050 only Montana (which has no sales tax) has a higher [income tax] rate," which means a lot of middle class folks are paying very high taxes

Don't you forget, Darren, your rich...I mean, anyone making over the poverty level is rich according to the PMS twins, AKA your two senators! :)

Walter E. Wallis said...

When they announced that the improvement in California's economy was reducing the expected deficit, you could see the democrats drooling at the prospect of more business profits to tax away.