It is preposterous to think that passing higher taxes on businesses and individuals in this economy is going to spur economic recovery in California.
Yet, the Democrats, who have run Sacramento for more than fifty years, continue to push tax increases while they spend our tax dollars like they have a taxpayer credit card with unlimited credit.
More than 855,000 private sector jobs have left our state since the recession began four years ago. Last year alone 254 businesses left California and another 210 left in 2010. And it has been estimated that businesses save on an average of 20% to 40% in operating costs by leaving the state for more business-friendly states.
A more frightening statistic is that more than 2,500 employers ceased operations in California between 2007 and 2011. A substantial number of those businesses simply went out of business.
Meanwhile, Texas, by contrast, added 140,000 jobs and leads the nation in job creating.
The Tax Foundation constantly reviews at five forms of taxation – corporate, individual income tax, sales tax, property tax and unemployment insurance tax – and has determined that these burdens have left California 48th in business climate.
Concurrently, George Mason University’s Mercatus Center ranks our state 48th in the nation due to its massive regulations that have caused many to leave California for greener pastures.
California has the second-highest gasoline prices, second only to Hawaii and by far the highest prices for diesel fuel. And while California holds 64% of the recoverable shale oil in the United States, the Democrats in Sacramento have prevented a single offshore drilling permit to be issued for more than 30 years. Consequently we import more than 63% of our statewide oil from other states and countries.
While California has the highest debt of any state, again, the Democrats in Sacramento continue to rank the 4th highest in spending per capita.
At a time when our state represents only 12% of the U.S. population, we represent 33% of the nation’s welfare recipients.
Chief Executive Magazine recently surveyed company executives across the country and their conclusion was that California is the worst place in which to do business.
What more do Governor Jerry Brown and his Democratic cohorts in Sacramento need to realize that the California dream is fading rapidly as a result of their using taxpaying businesses and individuals as ATM machines?
Spero columnist John Mancino is a business owner and political analyst living in California.