I cannot begin to express my personal relief at this news…and though the LA Times is trying to portray the Republicans in California’s Legislature as the road blocks to real solutions, they are (against all odds) heroes in my book.
In what will eventually end up as a broader discussion of the fantastic amount of cash being doled out by our government to nearly every one except those on whom the economic rehabilitation would seem to depend, I would like to posit this argument:
The Economy will NOT recover faster through higher taxes while the populace are also experiencing a squeeze in areas of their private debt, mortgages, etc; it will NOT find it’s feet again through the over funding of institutions that manage to address none of the problems that prodded their demise; and finally it will not, will NOT, WILL NOT develop that healthy shade of pink (or should I say green?) we’re all looking for by forcing action quickly in order to simply look as if we are acting.
California has spent itself into the hole, and has failed to come up with any kind of meaningful solution to the problem. This most recent attempt at a budget, rather than cutting back on the spending that got California into this place in the first place, perscribes reducing tax breaks and increasing taxes across the board. The outlook for families and businesses in California as a result of this policy is grim; looking out at the grand plans for the national bail-out, California’s intended temporary tax increase of $1400 for each person (an ominous word that: temporary) would effectively wipe out the pitiful $400 a person tax incentive that features prominently in the nearly $800 Billion Dollar Stimulus package. At a time when we are struggling to weather a financial storm, Taxifornia’s strategy is to add to the financial burden of every resident.
This plan is wildly reckless and irresponsible. The problems we are facing will not go away without making actual changes. The Global Warming alarmists took the opportunity this Summer, when gas climbed to nearly $5/gl, to tell us that the only way to solve this problem was to radically change the way we lived and operated. People cut back on using gas, and gas prices dropped. Well, we are facing a deeper crisis and it is time the politicians of all sides reflect on this reality; the road to recovery will involve cutting back on the outrageous over-extension of our government, which requires in turn ridiculous taxes to support policies that are not the purview of the government in the first place.