January 05, 2012
Jerry Brown in charge: California is doomed
Want proof that Gov. Jerry Brown is insane? That California's doomed? That Sacramento is filled with nothing but tax-and-spend lunatics? Check out his plans for California's buggered-beyond-belief taxpayers. Bloomberg reports:
Brown proposed $92.6 billion in spending for the year starting in July, an increase of about 7 percent, which will count on voters approving $7 billion of higher taxes in November.
The spending plan foresees a deficit of $9.2 billion through the next 18 months. Almost half of that is in the current fiscal year, he said. He called for $4.2 billion in cuts, mostly to welfare and programs for the poor. If the tax increase isn’t passed, Brown’s plan would cut another $4.8 billion in support for public schools and community colleges.
“The state of California is a very generous, compassionate political jurisdiction,” Brown said. “When we have to cut spending, that spending is going to come from programs that are doing a lot of good. It’s not nice. We don’t like it. But the economy and tax statutes of California make just so much money available.”
Brown, a 73-year-old Democrat, wants to raise income taxes on individuals making at least $250,000 a year to 10.3 percent from 9.3 percent, and would boost sales levies to 7.75 percent from 7.25 percent.
Yes, you heard that right, folks. Californians don't pay enough taxes.
Income tax?
Too damn low!
Sales tax?
Dammit! Too damn low!
Cut spending?
Only if you force us to, you selfish bastards -- and we'll target children, puppies and baby seals, first!
Honestly, it's as if Brown and his fellow travelers haven't the slightest clue how to encourage economic growth.
What does the financial world think about Gov. Moonbeam's fiscal sanity?
California is Standard & Poor’s lowest-rated state, at A-, six levels below AAA.
Moody’s Investment Service grades it A1, four steps below the top rating, tied with Illinois for the worst credit rating among states.
And my friends wonder why I tell them that there's no hope for this state. We are well and truly doomed.
Posted by Mike Lief at January 5, 2012 07:21 PM
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Comments
Ever thought of moving somewhere, like, say . . . Tennessee?
Posted by: The Little Coach at January 6, 2012 09:18 PM