This is what the Socialist Democrats know: spending, regulation and taxation. The free market can’t work because of it. This is how California’s budget got to its $1.6 billion deficit and pension insolvency.
Governor Brown’s Secret Plan Will Be Very Controversial
Governor Brown has been secretive about his plan to raise money, for good reason. The taxpayers won’t like it.
He’s taxed so many areas dry and put such a heavy burden on the average taxpayer and businesses that there are few areas left to hit up. The one area he plans to burden now is one that draws majority condemnation. It has for decades.
Tax collection in the state increased by 50 percent in the last nine years, but Governor Brown announced revenue is down. He has come back to the watering hole.
Brown wants – needs – to keep spending on California’s roads, and believes a 42 percent increase in gasoline taxes and a 141 percent increase in vehicle registration fees is the way to go, Breitbart News reported.
It’s Been the Bane of Governors Before Him
Arnold Schwarzenegger’s popularity fell dramatically when he pushed through Proposition 1-A for the now-failed high-speed rail initiative.
Breitbart said: Gov. Brown’s willingness to try raising gasoline taxes by 17 cents a gallon, and on vehicle registration fees by $65, is a sign of the insolvency risk from the exploding cost of California Public Employees’ Retirement System (CalPERS) public pensions.
Additionally, Brown’s draft 2017-2018 budget has taxpayers funding pensions by $524 million more every year for the next four years That amounts to an 11 percent increase over this year’s $5.3 billion cost.
The governor’s deals rob from Peter to pay Paul.
The Water Hole Is Running Dry
According to a study by the Pacific Research Institute, the brutally high tax burden has been the cause California’s abnormally slow growth along with its net exporting of U.S. citizens and its shrinking labor force.
Socialism doesn’t accept facts, just ideology.
Wait until they get Governor Newsom, he’s worse.