California is Destroying Itself. The U.S. is Next.
California Global Warming Solutions Act of 2006
Saturday, November 17, 2012
There’s a very entertaining, but terrifying book by Laer Pearce, “Crazifornia: Tales from the Tarnished State—How California is destroying itself and Why It Matters to America.” I recommend everyone read it because it lays out the template for why California will go belly up and why the nation is at the precipice of doing the same thing.
For some thirty years the author has been helping corporations and local government agencies cope with California’s regulatory jungle. As he puts it, “Crazifornia reveals a state that has become so misdirected, ungovernable and untenable that the primary driver of change has become the catastrophe.” Following the recent elections a recent Wall Street Journal editorial opined, “So now Californians will experience the joys of one-party, union-run progressive governance.”
Though it may defy belief, Californians voted to let the state tax them more to 13.3% and they gave Democrats a supermajority in both houses while killing a ballot initiative that would have barred unions from automatically withholding money from worker paychecks for political spending. The public service and other unions own California. Add that to a history of progressive politics and you have a recipe for the total disaster that confronts the state and the nation these days.
Laer calls it a laboratory for liberals. “California has become tax-crazy, imposing the nation’s highest unemployment tax and personal capital gains tax rates. And it’s near the top on income taxes, corporate tax rates, and corporate capital gains tax rates.” If this sounds like where America is heading if the Bush tax cuts are not extended and as the many hidden Obamacare taxes kick in, you’re right. And the only thing the President keeps talking about is taxing the rich who he defines as anyone earning $250,000 or more. For the record, $250,000 is only one quarter of a million, despite his blather about millionaires and billionaires.