CALIFORNIA FACES ECONOMIC DISASTER
Not very long ago, California was the land of opportunity. Our state enjoyed a powerful economic engine which drove economic growth in the US and the World economy. Now California faces economic disaster.
Businesses are leaving our state in droves and they are taking many of our good jobs with them. We are lagging the rest of the nation on new business startups. In a short period of time our state leaders have turned the land of opportunity into a minefield for business. High taxes, oppressive regulation, and powerful bureaucracies have created an anti-business climate. An anti-business state IS an anti-jobs state. Not only are we losing businesses and jobs, we are losing the tax revenue that comes along with successful businesses and high paying jobs.
Rather than deal with this reality, our politicians are much more concerned with things like budget share, growing spending, and passing legislation to pay back their political benefactors. This neglect has allowed our government to grow too large and to drain our state’s once vibrant economy.
There is no question that we are accelerating towards disaster as we continue to pass larger and larger budget deficits and finance them with massive and growing debt. This is not only our problem, we are unfairly placing our children and grandchildren in a position where they will have to sacrifice their future for our mistakes today.
Visit the links below and you will start to see the problem we are in. Politicans, always hungry for votes, have made promises we simply cannot keep. We keep adding new laws, and piling on more regulations, without realizing the true impact to the business climate in California. We are a very unfriendly state for business. We are have some of the highest tax rates. This has caused businesses to flee Calfornia and take jobs with them. Raising taxes further will actually result in lower revenue as even more employers are driven out of state or out of business.
The only solution to our fiscal crisis is to eliminate oppressive regulations and lower taxes on businesses. so we can encourage businesses to come back to California. This is the only way to creating jobs, expand the tax base, and ultimately generate additional revenue.
Fundamental structural changes are also needed in the way we deliver services. We must streamline the delivery of government services utilizing technology and proven business processes to decrease administrative costs.
We need to get some real people in Sacramento to restore a pro-business climate back to our state. We need to attract businesses and the jobs they bring with them, instead of driving them away. We should repeal oppressive regulations, and streamline our out of control government bureaucracy.
With some hard work and a little common sense we can put the shine back into the Golden state.
Here is link for you to see how our tax money is spent: CA Franchise Tax Board
More on the budget: California Budget
Balance the Budget: LA Times Budget Balancer