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Sunday, 9 December 2012
Economics 101
The liberals subscribe to a policy of uncontrolled spending paid for by taxing "the rich". Some how they believe that the answer to any fiscal crisis is to simply vote themselves more money from the pockets of the largest producers in the economy.

In November 2012, California, a liberal state constantly in fiscal crisis, voted to tax their "rich" by as much as 52% of income received. Celebrations abounded on election night as the measure passed. California was to have a utopia. They could now balance their budget and provide more to the money grabbing teachers' unions. Why didn't it work?
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.
The answer is the same reason why the Owebama government's idea of taxing "the rich" won't work either. "The rich" didn't get where they are because of stupidity. They didn't accidentally make their money through poor financial decisions. There comes a time when those understanding fiscal policy decide they will no longer work hard to only be milked by those with class envy and a government unwilling to live within a budget.

Welcome to the real world California.
Posted By P.Brown at 9:20 AM in Category:Politics
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