For years it seemed California could pretty much spend itself past drunken sailor levels and tax the stuffing out of everyone to keep the debt payments current. The state’s goal to be the leading tax-and-spend municipality was boosted not insubstantially by skyrocketing real-estate prices (and the heavy taxes thereon) and permitted some absolutely eye-popping defined-benefit plans for government workers. Now, with pension funds dizzy from repeated blows to the head, tax receipts looking dismal, IOUs instead of refund checks and ballooning unfunded liabilities, California is going to need more than an oversubscribed bond issuance (fueled by tax free status, we might add) to pull the chestnuts out. As if the times were not rough enough, the citizenry are starting to get pissed. (It’s about time?)
An angry mob of thousands converged on an Orange County parking lot in southern California on a recent Saturday morning for an anti-tax protest, stunning even the organizers with the size of the turnout. It was just one in a series of public demonstrations that have cropped up around the state.
Talk of a brewing tax revolt has been largely ignored by the mainstream media, and many political analysts are skeptical, though they concede that the taxpayer mutiny that led to the landmark Prop 13 was similarly dismissed by political professionals.
Define “feedback loop”
Unfortunately, I think Orange County is home to the largest number of Republicans left in the state, and that’s not much. To see them protest is kind of predictable — it will only be when they protest in West LA, SF or in Sacramento, that I’ll believe a true revolt is underway.
Purely anecdotal, but nearly all of the the people I know who are in favor of capitalism or who had small businesses (with the exception of those in software) have all given up and left over the past decade. The people I know who have stayed are safely working for the government in some capacity (teachers, college profs/JPL-NASA employees/UC healthcare)and are socialists (although they don’t like that term) who have cushy pensions and a high level of job security and have shown little indication of discomfort at the way things are going.
Even the software people typically vote Democrat, so I don’t see Pelosi and her kind being kicked out.
I predict they’ll just keep raising taxes and bailing out bus drivers who default on their $ 800k mortgages. Public schools will get worse, leading to more stupid people, and the only people left will be govt. employees, people on benefits, a few movie stars, their lawyers, their plastic surgeons, and the illegals who garden for them.
Progressive ideology is fine when you can afford it, but no one is going to let it take down the economy. The “social justice” ideology has defined polite conversation because no one cared enough to have an ugly argument about it. But people will reassess as they see the real costs and benefits.
As a CA resident, I made sure I was underwithheld, and I won’t be mailing in my taxes until April 15.
Although I would say the chances are pretty slim, I’m hopeful that CA defaults between now and then due to a
CA is killing itself through a combination of spending into oblivion while shooing away any real businesses. Remember when CA had a legit manufacturing base? Not anymore, you can thank the eniviromentalists for that one. Little by little, CA has turned itself into nothing more than a playground for the rich and a trap for the poor. There is no room for a middle class.
Its very funny (ironic) that the liberal state of CA with all those Chavez, Prius loving assholes. have such a problem with taxes. Could it be that the wealthy actors, movie producers and film companies thta claim to give a shit about the social programs and poor hide their money? Could it be that they arent what they seem?
FUCK CA. The entire state voted for Capt Omerica and it aint done a damn thing for them. Where is Palosi on her private plane?
#5 – Well, obviously, that’s why we need to subsidize living expenses for the middle class. And artists. Just ask my Senator Babs Boxer.
#5 – Well, obviously, that’s why we need to subsidize living expenses for the middle class. And artists. Just ask my Senator Babs Boxer.
Fellas, I think we’re next.
New York I love you, but you’re bringing me down.
@ Lowly
I’m actively seeking a relatively small, possibly caribbean/south pacific island to take by force. I estimate that I’ll need maybe $50-100MM start-up costs to hire some Blackwater types to help with the initial invasion, an E&C firm for infrastructure, and operating costs until the project is self-sustaining. The only solution is to establish this new sovereign body and start from scratch and such…
@6 – Sadly, it’s not Pelosi on HER private plane it’s Pelosi on YOUR government plane from WDC to Travis AFB at a cost of (I have read) $ 57,000. an hour to the taxpayers. Don’t forget the Queen, her friends and her family members cannot drive an hour and a half from Travis AFB to SF, and require use of an additional plane for that short jaunt to save valuable time as well.
Don’t think it’s only for Christmas or her birthday. Miss Thang also needs to get back to Cali/the non-union laborers at her Vineyard in St. Helena/her constituents on Memorial Day weekend as well and possibly also for Arbor Day.
Although I’m not sure how this ties in with Saving the Planet, any thoughts? One can only hope her son at least picked Mama up from the Base in his Prius and the bouquet of roses waiting for her on the passenger seat came from a farm that practices sustainable growth policies and biodiversity.
Can’t help but think of arrogant and hypocritical Communist Party leaders in their Mercedes limousines, while everyone else waited patiently for 15 years for a shitty Trabby made out of recycled materials. Ah, those good old days when everyone had a job, even if involved designing bottle lids for the state-owned pickle manufacturers.
Bizarrely, a majority of Americans have indicated they are ready and willing to try the socialist experiment themselves but this time, they are not going to use the S-word.
Good luck to them and God help the rest of us.
@5-Is that an exact quote from the Economist? I agree, but seriously don’t play that off as your own.
@5
“X is killing itself through a combination of spending into oblivion while shooing away any real businesses. Remember when X had a legit manufacturing base? Not anymore, you can thank the eniviromentalists for that one. Little by little, X has turned itself into nothing more than a playground for the rich and a trap for the poor. There is no room for a middle class.”
Welcome to America, you stupid fuck.
Have you ever been to CA? Nowhere on the continent is the middle class more pervasive and easily identifiable.
~(Du)Che Guevara
13
Ya spelled douche wrong……
-The Forehead Slapper
Anal,
Hmmm…sounds very old-school American!
Maybe this go-around we can actually live by Locke/Mill’s theorems, instead of just referencing them on a silly declaration?
@10:
Makes you miss Executive Outcomes.
@Low
Bro-in-law is SF. From what I hear, a number of them will be willing to go for a spot on your island as long as you fly the Gadsen flag.
@EP
Ah, but there’s plenty more PMC’s around that would no-doubt be glad to get their hands on such a contract, especially when the target is geographically isolated…
@5 Nice quote, I can read The Economist too. Next time paraphrase.
When the fuck is this going to happen in New Jersey? We are long over due to kick the shit out of some scummy legislators.
@2
Wow, that sounds like what New Jersey already is.
#6 – I knew Pelosi’s son Paul when he worked at Montgomery Securities. After leaving / getting laid off in ’01 he spent the next 5 yrs selling subprime cash-out refi’s for Countrywide.
I wish I could find some down-on-his-luck homeowner with McMansion in foreclosure, and Paul Pelosi Jr’s signature on the refi docs.
Funny thing about these high tax states: NY, NJ, CA, CT, MA. They’re where all the good jobs are. Anyone been in FL lately? I would hate to try and run a knowledge based business there – a place where the average IQ is probably 40.
You need to add Virginia to that list. The prosperity in the northern burbs near DC is amazing. Problem is that its all related to skimming from the government in some way (lobbyists, lawyers, etc.). Total shame. It annoys me to see that America has evolved this way.
23,
In fairness, CT isn’t TOO bad (I can’t stress the “TOO” enough). CT property tax vs. NY? Unbelieveable. No wonder Turbo Tim was making “adjustments” to his claims.
25 Don’t you think a lot of that differential is reflected in the relative prices of the houses? The real estate market is very efficient that way.
What?
27 i.e. part of the reason houses in Greenwich are more expensive than those in Bedford, NY, is that property taxes are lower in CT. Also partly explains why a house in Stamford is much less than a comparable one in Greenwich – much higher prop taxes in Stamford, as well as other disadvantages, either perceived or actual. (you tired today, Lowly; usually you’re one of the sharpest ones here?)
But prices need not be comparable/reflected re: local/state government’s asking. Greenwich RE is much more pricey when compared with Stamford due to demographics, location, current contracts, privatized education, etc. It’s not a reflection of maintaining a similar, overall pricing (when comparing, for tax purposes). You think PT is lower in Greenwich simply due to…I don’t even know…fairness across the board, using some bizarre formula to contrast/compare RE, and what the gov. can/can’t get away with?
I don’t know. I’m tired, and probably missing something here.
I also don’t want to bring the whole red vs. blue thing, but (according to Wiki data (I know, I know)) Greenwich = 41% Repub. ; 21% Dem. *vs.* Stamford = 26% Repub. ; 38% Dem.
“Funny thing about these high tax states . . . . They’re where all the good jobs are. ” 3:32pm
No, _this_ is funny: http://xkcd.com/552/
@24
You hit the nail on the fucking head. All skimming from the government. And none of them have a problem with it. It annoys the fuck out of me.
@2, etc.
haha wow way to throw out the stupidfuck stereotypes of CA. i know maybe 100 guys from college who work in finance and accounting from liberal SF to red Newport. my girlfriend’s dad is a loaded oncologist with ties to ucla who is as non-socialist as possible. and voting is not solely based on economic issues, so your (perceived) dearth of finance/small business types does not equal automatic Democratic officials.
anybody who thinks theres no middle class in CA is a moron who just sees CA through the media lens: poor ass mexicans and girls from The Hills. In reality, many suburbs around LA- Ventura, Glendale, etc. are dominated by pickup driving, tattooed middle class guys. try having some actual knowledge on a subject before you dump shit you gleaned from scanning a couple movies and years of assumptions.