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Waste, corruption, unions and special interests are the cause of the current Great Depression in California. Lack of revenues is not a cause.
"Andreas Kluth, the California correspondent for The Economist, says California is a failed state because loud drum roll, por favor, California has been undressing since the 1970s since the infamous Proposition 13, which cut property taxes back in 1978. He doesn’t care that taxes were so high elderly widows were being evicted from their homes.
Nor does he even seem to know that in fiscal year 1977-78 (beginning on July 1, 1977), the year Prop. 13 passed, general fund spending was 6.10% of personal income, almost double the 3.67% in 1962-63, during California’s golden age, when massive infrastructure projects were built roads, schools, waterways under Gov. Pat Brown. In fiscal 2007-, the number was 6.55%. For 2008-09, 5.67. For 2009-10, the current budget, its estimated at 5.52. Obviously, today the problem isn’t the lack of tax money, but that so much of it is wasted."
We the people created this mess by voting for debt (bonds) and special interest yahoos to "represent" us in Sacramento.
Until we change our voting habits, debt, deficit and Depression, a failed State, will continue.
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"Andreas Kluth, the California correspondent for The Economist, says California is a failed state because loud drum roll, por favor, California has been undressing since the 1970s since the infamous Proposition 13, which cut property taxes back in 1978. He doesn’t care that taxes were so high elderly widows were being evicted from their homes.
Nor does he even seem to know that in fiscal year 1977-78 (beginning on July 1, 1977), the year Prop. 13 passed, general fund spending was 6.10% of personal income, almost double the 3.67% in 1962-63, during California’s golden age, when massive infrastructure projects were built roads, schools, waterways under Gov. Pat Brown. In fiscal 2007-, the number was 6.55%. For 2008-09, 5.67. For 2009-10, the current budget, its estimated at 5.52. Obviously, today the problem isn’t the lack of tax money, but that so much of it is wasted."
We the people created this mess by voting for debt (bonds) and special interest yahoos to "represent" us in Sacramento.
Until we change our voting habits, debt, deficit and Depression, a failed State, will continue.
More...