September 1, 2015
Liberal Alchemy: Turning Gold Into Lead
Meltdown of the Golden State looms
Bakersfield Now -- September 1, 2015
IRS data reveals mass migration out of California
Bakersfield, Calif. -- From 2004 to 2013 about 5 million people moved out of California, according to information released by the Internal Revenue Service. That's compared to less than 4 million people coming into the state, creating a net decrease of a million people when looking at migration.
Teresa Hitchcock, the Assistant Kern County Administrative Officer believes it's all about jobs.
“I think if you were unable to find employment, of course, no matter how affordable something is you need to find suitable employment,” said Hitchcock.
So where did all those people go?
The largest group --- nearly 600,000 people --- went to Texas. Though, about 250,000 Texans moved to California during the same period. Arizona, Nevada and Washingon were the next most popular states for California transplants.
Breitbart -- August 27, 2015
Stock Crash Would Create Budget Crisis for California
With the “one percent” paying more than 50 percent of state taxes, a sustained stock market crash would shrivel California's “one-time” capital gains taxes and throw the Golden State back into a financial crisis.
As Breitbart News recently warned, in “California is Greece, but with Capital Gains,” if the China stock crash continues, California could soon face a world of bad debt.
Sacramento public policy has created a barbell economy by wiping out the middle class through a combination of ferocious tax increases, ludicrous regulations and ultra-high welfare payments. As a result, California has an uber-wealthy class of billionaires living in sheltered liberal enclaves, while achieving a poverty rate of 23.4 percent that is the highest of any state in the U.S. and higher than Greece's 22.3 percent poverty rate.