Consider the disconnects: California's combined income and sales taxes are among the nation's highest, but the state's deficit is still about $16 billion. It's estimated that more than 2,000 upper-income Californians are leaving per week to flee high taxes and costly regulations, yet California wants to raise taxes even higher; its business climate already ranks near the bottom of most surveys. Its teachers are among the highest paid on average in the nation, but its public school students consistently test near the bottom...
The end will come when California cannot find buyers for its bonds, and the federal treausry refuses to step in and bail them out.There is not one state in the US that can run up $16 billion defecits and remain viable.
Driving across California is like going from Mississippi to Massachusetts without ever crossing a state line.
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