California is a fiscal failure. The state brags the highest corporate income taxes in the West (and only seven states have higher corporate rates). California ranks at the top of the heap with the most progressive tax scheme in the nation, including the second highest rate in the nation for those making in excess of $1 million. The sales tax burden in California ranks 13th in the nation. The total tax burden by California ranks 6th highest in the nation.
And California is asking Obama for a bailout.
To try to save the state's economy, the liberal Republicans and liberal Democrats that run the once proud "Governor Reagan State" proposed propositions 1A through 1F last Tuesday, which promised even more taxes. However, the California voters voted all of them down except 1F, showing that even a liberal state like California has a populace with a limit on how high they are willing to be taxed. 1F, by the way, limits raises for politicians in times of economic crisis.
Problem is, now that the voters have spoken in California, no Republican has appeared to pick up the baton and remind Americans that Obama's fiscal policies are not much unlike those of California. The fate of The Golden State is the fate of America, should Obama's policies continue to pass, and overtake the federal budget.
If you are curious what Barack Obama's economic policies will do to our nation's economy, take a look at California and the economic collapse the once prosperous state faces. California's economic downfall is the result of liberal policies, policies not unlike what Obama is proposing for our great nation. California is an image of what is sure to come for America, should the federal government continue down the road of chasing Obama's proposed economic ruin.
-- Political Pistachio Conservative News and Commentary
California’s High Tax, High Spending Disaster - Heritage Foundation
Calif. Voters Reject Budget Measures - New York Times
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