red states rule
11-12-2011, 06:40 AM
Hold on folks a liberals Dem in CA is propsoing TAX CUTS and DEREGULATION to help the sagging economy in CA
Damn, will Gabby move out of the state when she hears about this?
It is a well-known fact that California has the largest state deficit in American history. Furthermore, at 11.9 percent, California also has the dismal distinction of having the nation’s second-highest unemployment rate.
And that’s not all. There are other points that some argue contribute to California’s weak economy*:
Top Marginal Personal Income Tax Rate: 10.55 percent
Top Marginal Corporate Income Tax Rate: 8.84 percent
Personal Income Tax Progressivity (change in tax liability per $1,000 of income): $36.19
Property Tax Burden (per $1,000 of personal income): $27.18
Remaining Tax Burden: (per $1,000 of personal income): $16.13
Debt Service as a Share to Tax Revenue: 8.7 percent
Public Employees Per 10,000 of Population (full-time equivalent): 502.1
State Minimum Wage: $8.00
Average Worker’s Compensation Costs: $2.72
Right to Work State: No
Obviously, after reviewing the above, California is not in very good shape (economically speaking).
So what is to be done?
Los Angeles Mayor Antonio Villaraigosa, (D-Calif) believes that “red tape” and an “out of whack” tax system have been detrimental to his city’s economic success. Therefore, he is proposing to cut frivolous taxes (including one on new car dealers) so that Los Angeles can attract businesses and create jobs.
However, as is the case whenever anyone talks about cutting taxes or state programs, Villaraigosa has been met with opposition.
http://www.theblaze.com/stories/why-is-californias-economy-such-a-mess/
Damn, will Gabby move out of the state when she hears about this?
It is a well-known fact that California has the largest state deficit in American history. Furthermore, at 11.9 percent, California also has the dismal distinction of having the nation’s second-highest unemployment rate.
And that’s not all. There are other points that some argue contribute to California’s weak economy*:
Top Marginal Personal Income Tax Rate: 10.55 percent
Top Marginal Corporate Income Tax Rate: 8.84 percent
Personal Income Tax Progressivity (change in tax liability per $1,000 of income): $36.19
Property Tax Burden (per $1,000 of personal income): $27.18
Remaining Tax Burden: (per $1,000 of personal income): $16.13
Debt Service as a Share to Tax Revenue: 8.7 percent
Public Employees Per 10,000 of Population (full-time equivalent): 502.1
State Minimum Wage: $8.00
Average Worker’s Compensation Costs: $2.72
Right to Work State: No
Obviously, after reviewing the above, California is not in very good shape (economically speaking).
So what is to be done?
Los Angeles Mayor Antonio Villaraigosa, (D-Calif) believes that “red tape” and an “out of whack” tax system have been detrimental to his city’s economic success. Therefore, he is proposing to cut frivolous taxes (including one on new car dealers) so that Los Angeles can attract businesses and create jobs.
However, as is the case whenever anyone talks about cutting taxes or state programs, Villaraigosa has been met with opposition.
http://www.theblaze.com/stories/why-is-californias-economy-such-a-mess/