4 ms·
Most of the pain of California's bad policies have not yet been felt. Things are easy when you're spending but they get harder when you have to pay people back
by uuilly 16y ago
Most of the pain of California's bad policies have not yet been felt. Things are easy when you're spending but they get harder when you have to pay people back. Also rich people and corporations are leaving the state and poor people, mainly Mexican immigrants, are moving in. So along with a completely unsustainable budget, the largest tax contributers are decreasing and the largest tax recipients are increasing.
California cannot survive without some combination of:
-Huge Spending cuts
-Huge Tax increases (which, if overdone, may result in less tax revenue.)
-Federal Gov't bailout.
You can play cause and effect all you want, but basic arithmetic is really all that matters.
- pyre 16y ago> Also rich people and corporations are leaving the state > and poor people, mainly Mexican immigrants, are moving > in. My take-away from the blog post is that most of the hand-waving about California comes down to people making generalized statements like this, but when pressed to come up with actual data, they start to squirm and weasel out of making a more fact-based statement.