California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.Leftists see themselves as Reason personified in a barren, mindless world. There can be no order, no security, no prosperity, without the centralized control of an Enlightened Elite (i.e., themselves). The idea that people can self-organize, that there is a natural order in the world, is alien to such people. When the results of leftist programs aren't what leftists expected, all shortcomings are attributed to the boundless depravity of the very people leftists seek to reorganize. The physical world is mindless, or so think leftists. So when leftists enact more taxes, they expect the unthinking brutes (i.e., us) to obey. When we don't react the way we're supposed to, we're only demonstrating the depths of our ignorance. The only possible response, of course, is to use even more force to make people behave the way they're supposed to.
Saturday, December 8, 2012
Despite Tax Increase, California State Revenues in Freefall
A headline that better explained the situation might read, "BECAUSE of Tax Increase, California State Revenues in Freefall." But the corporate media, being a subidiary of GovCo, Inc, cannot conceive of such a thing. So now what's California gonna do?
Posted by Old Rebel at Saturday, December 08, 2012