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Want to end the California Great Depression--you can't till AB 32 is repealed.
"AB 32 was passed at the peak of the housing bubble, during which it seemed double-digit increases in housing prices with the state skimming off its portion in taxes would go on forever. In California, many thought, everything was fantastic, and anything is possible. It was a Disneyland of the mind. We could afford anything, including turning the state into a green-friendly economic showcase. Unemployment statewide in 2006 was just 4.9 percent.
Since then the housing bubble has burst, with California among the states hit the hardest. The state, along with the rest of America, is suffering through the worst economic slump since the Great Depression.
Unemployment has more than doubled to 12.5 percent in October the worst since 12.6 percent in 1940, at the tail end of the Great Depression. If one includes those working part-time but wanting to work full-time and those who have stopped looking for work, the underemployment number is a staggering 22.5 percent."
We allowed Sacramento to do this to us--time for a voter revolt while we still have a State that can be saved.
This is what AB 32 will do unless to end it now. "Our report reveals that when the plan is fully implemented, California families will be facing increased annual costs of $3,857 and that in order to cope with the increased costs generated by the Greenhouse Program, consumers will be forced to cut their discretionary spending by 26.2 percent. We conclude that when Californias climate change program, AB 32, is fully implemented, the average annual loss in gross state output from small businesses alone would be $182.6 billion, approximately a 10 percent loss in total gross state output. This will translate into nearly 1.1 million lost jobs in California. Lost labor income is estimated to be $76.8 billion, with nearly $5.8 billion lost in indirect taxes. This decline in revenues will have a severe impact on future state budgets.
This is suicide by government.
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"AB 32 was passed at the peak of the housing bubble, during which it seemed double-digit increases in housing prices with the state skimming off its portion in taxes would go on forever. In California, many thought, everything was fantastic, and anything is possible. It was a Disneyland of the mind. We could afford anything, including turning the state into a green-friendly economic showcase. Unemployment statewide in 2006 was just 4.9 percent.
Since then the housing bubble has burst, with California among the states hit the hardest. The state, along with the rest of America, is suffering through the worst economic slump since the Great Depression.
Unemployment has more than doubled to 12.5 percent in October the worst since 12.6 percent in 1940, at the tail end of the Great Depression. If one includes those working part-time but wanting to work full-time and those who have stopped looking for work, the underemployment number is a staggering 22.5 percent."
We allowed Sacramento to do this to us--time for a voter revolt while we still have a State that can be saved.
This is what AB 32 will do unless to end it now. "Our report reveals that when the plan is fully implemented, California families will be facing increased annual costs of $3,857 and that in order to cope with the increased costs generated by the Greenhouse Program, consumers will be forced to cut their discretionary spending by 26.2 percent. We conclude that when Californias climate change program, AB 32, is fully implemented, the average annual loss in gross state output from small businesses alone would be $182.6 billion, approximately a 10 percent loss in total gross state output. This will translate into nearly 1.1 million lost jobs in California. Lost labor income is estimated to be $76.8 billion, with nearly $5.8 billion lost in indirect taxes. This decline in revenues will have a severe impact on future state budgets.
This is suicide by government.
More...