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Monday, May 14, 2012

California Austerity: $5 Billion Spending Hike

California Dreamin?
Why does California keep overestimating how much it can collect in taxes?...Where are the devastating cuts of the austerity of bare-bones of the starving beast in a state that will increase spending by six percent — from $86.5 billion in outlays last year to $91.4 billion this year? Is it smart for Gov. Jerry Brown to expect a Facebook windfall when Facebook founders are literally willing to flee the United States to escape the tax hit of the company's impending IPO? Does anybody except USC/Dornsife pollsters think Brown will get his $8.5 billion tax hike approved in November? Does anybody on any planet believe it will actually bring in $8.5 billion in new taxes? What's the best way for a broken state to spend money it doesn't have: Government employee pensions, high-speed rail, boards of horse racing and chiropractory, or all of the above?
Read the rest here
Bastiat Institute 

Judy Morris,
Blogger, THL 
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