California's a mess because of "green" regulations and taxes

“By most objective measures, the economy is among the worst in the nation. Unemployment of over 12% is well above the national average of 10% — no surprise, considering the nonpartisan Tax Foundation recently ranked California 48th among the states on business-tax competitiveness.

A Milken Institute study recently estimated that, from 2003 to 2007, California lost 79,000 manufacturing jobs due to regulations and high taxes. If manufacturing’s share of the work force stayed where it was in 2000, the state would today have 1.6 million more jobs, $101 billion more output and $5 billion more in tax revenues.

From 2000 to 2007, state spending surged more than 60%. But revenues over the same time have shrunk because businesses and entrepreneurs are being strangled by higher taxes and thousands of new regulations. The regulations alone cost $493 billion a year.” “California Begging

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: