California’s budget is in its usual multi-billion dollar deficit condition, so one could be forgiven for believing that the problem is too few taxes. Fortunately, Richard Rider spells out in depressing detail just how overburdened the California taxpayer is:
* California has the 3rd highest state income tax rate in the nation.
* California has the highest state sales tax rate in the nation.
* California has the 2nd highest corporate income tax rate west of the Mississippi and 8th highest overall.
* California has the 4th highest capital gains tax rate.
* California has the 2nd highest gas tax and the highest diesel tax.
* California property taxes per owner-occupied home are the 10th highest in the nation.
If the solution to the state’s problems were higher taxes, we’d be living in Shangri-La already.
Saturday, November 26, 2011
The Utopia That Is California
It doesn't get any clearer than this: