Democrats control California's Legislature, and its governor, Jerry Brown, is a Democrat. California is home to some of America's richest people and...
CA has the highest state sales tax rate in the nation. 7.25% (does not include local sales taxes). 7.50% starting next year. http://taxfoundation.org/article/state-and-local-sales-tax-rates-january-1-2012 CA corporate income tax rate (8.84%) is the highest west of the Mississippi (our economic competitors) except for Alaska. http://taxfoundation.org/article/2013-state-business-tax-climate-index Table #1 – we are 6th highest nationwide.
California was once the land of opportunity, but it is going down the tubes. Several of California's prominent cities have declared bankruptcy, such as Vallejo, Stockton, Mammoth Lakes and San Bernardino. Others are on the precipice, and that includes Los Angeles, California's largest city. California's 2012 budget deficit is expected to top $28 billion, and its state debt is $618 billion. That's more than twice the size of New York's state debt, which itself is the second-highest in the nation.
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