High Taxes Hurt Economy and Government – Just Ask California
President Obama and the liberal politicians that side with him tell us that taxing high income earners helps the government and, in an effort to fool those who don’t pay attention, claim that will help the economy also. Well as pointed out by Godfather Politics, we have an example of a state who has had the philosophy – California.
In fact, the middle class in California pays a higher percentage in taxes than millionaires in 47 other states. And we all know about how wonderful California’s government and economy is doing. Oh wait…they’re actually having a terrible time aren’t they? Record debt, the wealthy and businesses fleeing the state – that’s what happens in the real world when you tax people who are only guilty of earning instead of mooching off of society by sitting back and collecting welfare checks.
In fact, according to a report by Spectrum Locations Consultants, 254 businesses moved all or part of their operations out the state of California in 2011 resulting in a loss of 120,000 jobs while in the same time frame, the state of Texas gained 130,000 jobs. A number of the companies that left California had in fact moved their operations to Texas due to the more conducive business environment and more favorable personal income taxes.
It doesn’t help the government or the economy to increase the tax burden on citizens and/or businesses. In fact, we’re seeing it on a national scale as well with businesses and jobs moving overseas to more business-friendly countries.
What will help the government and the economy is to fire the politicians who seem to only exist to dream up new ways to get into our pockets and to get into our lives. Just ask California. But hurry, they might not be able to afford statehood much longer.Please share: