California’s tax the rich problem.
(twitter.com)
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They want to over-tax the rich because they think like bank robbers: "that is where the money is."
Didn't their parents read them the fable of Killing the Goose that Laid the Golden Eggs??
They don't consider that those same people and businesses they are now trying to squeeze for even more money employ thousands of people and are a vital part of what created the once booming CA business economy. When they leave, they take those jobs with them. They will not be back and others will stay clear of the State and choose better alternatives. Smart move Commiefornia. Example of a state being run by socialist ideologs that have no economic sense. The state has been taken over by freaks, illegals, Communists, and deadbeats.
I am sickened by what the Dems have done to the state I once called my home for almost 40 years. It used to be a great place to live when it was run by conservatives and people with more common sense. Even the Dems back then were far better than the current lot of lunatics. They were on full display last night at the SOTU.
CA had it ALL! Natural beauty, natural resources, fertile valleys.
It is the serpent driving out Adam and Eve from Paradise!
Good analogy.
Atlas Shrugged !
The rich and the corporations don't pay a dime in taxes. If you try to charge them more money, they just pass the cost to their customers (us). Working Americans pay for absolutely everything in the US. That's how it has always worked.
At what point do the billionaires think: maybe I should fund the other side?
If just 1% leave (assuming the average income of the 200), CA comes up another $1.6B short.
Governor Gavin Newsom’s proposed 2026-27 California budget projects a "modest" $2.9 billion deficit, significantly lower than the $17.6–$18 billion shortfall previously estimated by the Legislative Analyst’s Office (LAO).
Digging a deeper and deeper hole. Trying to burn it down. California is about 14% of the US economy. Almost as big as the Japanese GDP. By the way, we pay more in federal, state and local taxes than the entire Japanese economy.