California Insanity & Global Warming

The state of California is bankrupt. Jobs and companies have been leaving California for years as as result of the highest taxes in the country, crazy regulations and a very high cost of living. Official unemployment is currently above 12%; but it is actually closer to 18% if all our counted. One would think that the politicians in California would wake up and recognize that business as usual is not working. But then this is California where the Democrat Socialists that control the state live in a dream world; that is more Hollywood than Disneyland. At a time when jobs are moving out of state, The California Air Resources Board last week released a draft of its Draconian, top down manipulation of the economy to reduce green house gases. The agency's cap and trade regulations effectively would impose broad based taxes by making energy more costly and forcing industries to buy permission to emit greenhouse gases that bureaucrats insist will dangerously warm the atmosphere. Of course, there is no conclusive proof that this is even true.

Of course, many of these taxes will never be paid because industries will just move out of state if not out of the country. At that same time that California is jumping off a cliff to commit economic suicide, it is highly unlikely that the 192 countries that will meet in Copenhagen next month to discuss Global Warming will agree to similar binding regulations; particularly since new information was recently revealed from hacked e-mails in Britain that Climate Scientists have been cooking the books to hide the fact that there has in fact been global cooling since the 60's rather than global warming. The CAP & TAX bill is also stalled in the US Senate because all Republicans and at least a few Democrat Senators, with common sense, realize that CAP & TAX is a major job killer bill.

But then California has always marched to a different drum. It is estimated that these new regulations will generate $143 Billion in new taxes from 2012-20; but I doubt it will happen because companies that can leave the state will do so. In addition, these new regulations are projected to add $3.7 Billion a year in fuel costs, $50,000 to the price of a new home, and a 30% increase in electric bills. This is in addition to very high property, sales and state income taxes.

All should know that one can buy a beautiful home in Nevada, Texas, Arizona and many other states for about $300,000; that would cost over $1,000,000 in the nicer areas of California even with the fall in property values. Property and sales taxes in other states are about the same as California. There is no personal income tax in Nevada and Texas and personal income taxes are much lower in other states as well. Corporate income tax in California is near 10%. Corporate income tax is zero in Nevada and about 4% in Texas. The Democrat Socialists and the environmental wackos that control California just don't get it. The so called "rich" who presumably pay most of the taxes in any state are leaving California. Years ago, there were many more major companies headquartered in California than today. As Ronald Reagan always said, "People can always vote with their feet" and that is exactly what is happening in California because of looney Democrat Socialist politicians who think money grows on trees.