The place to be
They watch the hazy sun
Sinking in the sea
So what is causing all of California's woes?
If you are a liberal, it's that the state hasn't been able to tax it's citizens enough.
The world according to Harold Mayerson.......
To understand why the woes of California's economy threaten the nation's, we must understand the state's road to insolvency. The Age of Reagan did not commence with the Great Communicator's inauguration in 1981. For its real beginning, we need to go back to June 1978, when Californians went to the polls and enacted Proposition 13.
By passing Howard Jarvis's malign initiative, California voters reduced the Golden State to baser metal. Under Republican Gov. Earl Warren and Democratic Gov. Pat Brown, California epitomized the postwar American dream. Its public schools, from kindergarten through Berkeley and UCLA, were the nation's finest; its roads and aqueducts the most efficient at moving cars and water -- the state's lifeblood -- to their destinations. All this was funded by some of the nation's highest taxes, which fell in good measure on the state's flourishing banks and corporations.
Nevermind that the state has spent money like drunken sailors on shore leave. Need another example?
I guess it also never occurred to Mayerson that if property taxes exploded commensurate with the values of real estate in the state, the foreclosure problem there right now would be about 10 times as bad.