Big government does for California

California has a public sector which expects high salaries and gold plated pensions. In recent years, state employees have paid about 30% more than their private sector counterparts for jobs of comparable skill level and responsibility. California’s budget deficit estimates for the coming year range up to 20 billion dollars, a sum that would require crippling tax increases to fund. Already high state taxes are driving a flood of businesses and affluent residents to Nevada, Arizona, and elsewhere. The residents fleeing California are being replaced with low income, service-consuming immigrants not all of whom are even legal. Arnold Schwarzenegger, one America’s weirdest political figures, may well go down in history as the man who led his state into bankruptcy.


%d bloggers like this: