Tweet
My friend Richard Rider has come up with one of the major causes of the California deficit--tax receipts down dramatically. Arnold thought the deficit was$6 billion--actually it is $25.4 billion-and growing.
Second quarter of 09 and second quarter of 10--corporate income tax are down 41.6%--that also shows that businesses in California are in a deep depression.
With high taxes, AB 32 regulations and government policies, it is hard for a business to make a profit--and the proof is the 41.6% decline in tax receipts.
Unless Brown and his Democrats act like conservative GOP'ers, instead of Arnold clones, California will stay in a Depression for a complete generation.
Tomorrow I will start listing hundreds of companies that have left California—part of the reason the corporate tax receipts are down.
More...
Second quarter of 09 and second quarter of 10--corporate income tax are down 41.6%--that also shows that businesses in California are in a deep depression.
With high taxes, AB 32 regulations and government policies, it is hard for a business to make a profit--and the proof is the 41.6% decline in tax receipts.
Unless Brown and his Democrats act like conservative GOP'ers, instead of Arnold clones, California will stay in a Depression for a complete generation.
Tomorrow I will start listing hundreds of companies that have left California—part of the reason the corporate tax receipts are down.
More...