Study: California worst-run state

Dec. 1, 2012

By John Seiler

247 Wall Street once again ranked California as the worst-run state in the (increasingly Soviet) Union. That’s depressingly bad, considering we’re even worse than Illinois, New York, New Jersey and other high-tax, high-regulation, anti-jobs, anti-human states. The verdict:

“California is 24/7 Wall St.’s “Worst Run State” for the second year in a row. Due to high levels of debt, the state’s S&P credit rating is the worst of all states, while its Moody’s credit rating is the second-worst. Much of California’s fiscal woes involve the economic downturn. Home prices plunged by 33.6% between 2006 and 2011, worse than all states except for three. The state’s foreclosure rate and unemployment rate were the third- and second-highest in the country, respectively. But efforts to get finances on track are moving forward. State voters passed a ballot initiative to raise sales taxes as well as income taxes for people who make at least $250,000 a year. While median income is the 10th-highest in the country, the state also has one of the highest tax burdens on income. According to the Tax Foundation, the state also has the third-worst business tax climate in the country.”

Actually, of course, the tax increases to “get finances on track” will make the finances even worse, as the analysis hints when it also writes that California has “the third-worst business tax climate in the country.”

But however you look at it, the cumulative effect of decades of assaults on businesses and citizens is that jobs and workers and businesses are fleeing the state for more sensible locales.

 

7 comments

Write a comment
  1. Sean Morham
    Sean Morham 1 December, 2012, 09:57

    Wow, what an uplifting post. We are number one!!!!

    Reply this comment
  2. lila
    lila 1 December, 2012, 10:39

    Thank you Jerry B,GF,BB and all the progressive agenda 21 socialest.

    Reply this comment
  3. Joe
    Joe 1 December, 2012, 10:40

    If you elect idoits to run the state what else do you expect? You elected them now live with it STUPID!

    Reply this comment
  4. Rex the Wonder Dog!
    Rex the Wonder Dog! 1 December, 2012, 15:38

    We’re NOT worse than IL.

    Reply this comment
  5. Rex the Wonder Dog!
    Rex the Wonder Dog! 1 December, 2012, 21:14

    Where did you get that pic of Teddy Steals car 😉

    Reply this comment
  6. Hondo
    Hondo 1 December, 2012, 23:06

    California has more ways to grow the economy than any place on earth. The natural resources are off the scale. While most of the country is coming back economically, Kalifornia is still stuck with an unemployment rate of over 10%. With its resources, it should be under 6% by now.
    You can’t blame the republicans. This is an all Democratic disaster.
    Hondo….

    Reply this comment
  7. sean morham
    sean morham 2 December, 2012, 06:05

    What is so sad: I have to laugh when the governor touts private sector job growth in Cal., like it is because of effective governance. Perhaps Cal is getting out of the recession, but high taxes, excessive regulation, and a welfare state do not portend well. The Michigan economy is showing signs of life, but it is far cry from what it once was. Greece has beautiful weather as well,
    The shoe is going to drop in Cal. in 2014. Some would claim that is being negative, a doomsayer. No, it is objective as a resident and a property owner in Cal. Prudence with family future, and investments is my responsibility. If one does not want to accept personal responsibility, you will be food, however one may define that. Chomp.

    Reply this comment

Write a Comment

Leave a Reply


Tags assigned to this article:
247 Wall StreetJohn Seilertax increase

Related Articles

Only in CA: Costly edicts depicted as jobs programs

When Gov. Arnold Schwarzenegger signed AB 32 into law in 2006, he did so after first demanding that the measure

‘Violence is as American as apple pie’

Jan. 30, 2013 By Katy Grimes The Senate and Assembly held a joint Public Safety committee hearing on Tuesday about

Much required of Democratic Legislature

Dec. 14, 2012 By Joseph Perkins I met Darrell Steinberg last week. The state Senate president pro tem said that