Pity California. Tens of billions of dollars of deficits every year, businesses fleeing the state with the second worst business climate in the country, big spenders firmly in control in Sacramento, Democrat Jerry Brown leading in the race for Governor, Proposition 25, which would eliminate the 2/3 vote requirement for new taxes, ahead in the polls, and Proposition 23, which would save what’s left of California’s economy by delaying the economy-crippling cap and trade law, AB32, behind in the polls. The perfect storm.
And what is AB32 really about? Well, as the Aussies described their proposed and rejected cap and trade law, it’s a great big tax on everything. Californians, desperately in the hole already because of government laws and regulations and high taxes, are about to be saddled with hundreds of millions in new taxes:
Less rosy still is a little-noticed and little-discussed draft report circulated last year by the California Air Resources Board’s economic and allocation advisory committee. In it, the panel seriously contemplates using some of the hundreds of millions of dollars the state hopes to collect in carbon “allowance fees” to pay the unemployment benefits of people thrown out of work by new regulations. “Prop 23 is all about saving California’s economy“
How much more greedy can one state government get, and how much more will the people of California willingly take?