Calif. Borrows $40M a Day to Pay Unemployment

Posted on November 8, 2010
Filed Under Uncategorized | 834Leave a Comment2010-11-08+04%3A14%3A13MikesView

Down the tubes.

As some businesses close down or move out of state, when will a majority of Californians wake up and demand an easing of the regulatory environment and tax burden which is loading down economic activity, the engine for job creation.

A friend of our family had founded a cryogenics pump manufacturing company in the seventies in Sacramento, CA. By 1994, due to regulatory and tax burdens, which made expansion in the state of California unfeasible, a new larger plant was built in Nevada. This accommodated the needs of the growing business and employees that made the move benefited from no Nevada state income tax.

Do you believe Governor Brown and the Democratic Party controlled legislature will improve the economic climate, or will they raise taxes and further impose control over social, economic and environmental activities in the state? I believe the latter folks, and hope my family members and friends that live in that state survive this further swing to the left.

Calif borrows $40M a day to pay unemployment.