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John Galt Is Laughing

The first of what I hope is an infinite number of “Told Ya So, Assholes” posts, as the evil swamp dragon of reality rises up out of the fiscal ooze to bite a bunch of leftards in the buttocks.

This one, h/t to The Rot

Despite Tax Increase, California State Revenues in Freefall

California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget.

Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis. 

As panic spreads that goosing taxes on the rich may have created enough “tax flight” that the California will actually collect less taxes, there was welcome news that a business had committed to opening in the State. Executives of the 99 Cents Only Stores Inc. proclaimed they would be opening a new location in Beverly Hills on formerly posh Rodeo Drive. 

Yeah, and all 4 employees at the Dollar Store will get minimum wage. The manager makes a whole 50¢/hr more.



C’mon Boner, don’t blink, don’t cry, don’t wobble. Let Ocommie drive us over this Fiscal Cliff and then the next one and then the one after that. Let it all crash and burn. And keep that secession movement going. Just make sure to trim off the loser bandwagon states first. The solid blue ones with the humongous welfare spending. Or at least the coastal parts of them, which is where >80% of that EBT and SNAP money goes.



Posted by Drew458    United States   on 12/10/2012 at 04:44 PM   
 
  1. Yes, they have no idea how hard we all laugh at the level of STUPID they posses in Cali.I live in the Stupid state to the north but luckily its too poor to enact the level of stupid government Cali has.
    LOL

    Posted by Rich K    United States   12/10/2012  at  06:01 PM  
  2. Two words: Laffer Curve

    Posted by CenTexTim    United States   12/10/2012  at  09:51 PM  
  3. Sadly we need to win the lottery first, so that we can get the heck out of this union thug run stupid state. Sad, but right across the river, things are exploding as far as jobs and growth (explains why OH is holding out for KY to cover the $$$ for the Brent Spence bridge, but since it is TWO Interstate highways (I-75 and I-71) hubby and I wonder why it isn’t just completely covered by DOT?!?).

    BTW, casinos - the next great scam to rip money away from the people who least can afford to lose it - are already failing here in OH. 3 up (Toledo, Columbus and the mistake on the lake), ours isn’t even up and going yet. Another idiotic idea that causes more problems than it solves.

    Posted by wardmama4    United States   12/11/2012  at  08:05 AM  
  4. If you want to read WHY the states have to pay part of the cost for Fed roads read this mess,and good luck WM:
    http://www.fhwa.dot.gov/policy/hcas/final/five.htm

    Posted by Rich K    United States   12/11/2012  at  02:40 PM  
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