California wants a federal bailout

California, which has tax rates higher in just about every category of taxation than just about every other state, wants a bailout from Washington D.C.  In typical progressive tone, California essentially demands the bailout, which is to say, California insists that taxes paid by all 50 states expressly to the federal government instead be sent to California. Why? Because California, despite its gargantuan GDP and despite its onerously burdensome tax rates, needs another $54 billion to plug a hole in the state budget. Perhaps that’s because of its squandering of tens of billions of dollars on utopian frivolities like a high-speed rail that hasn’t rolled a single mile or carried a single passenger after 12 years and billions of dollars of spending. That $54 billion is equivalent to about a third of the state’s entire budget. How does such a huge government entity in such a resource-, commerce- and technology-rich state...(Read Full Post)
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