One Guy's Opinion on the Political Scene By: Jim Herndon
Our Legislature has ground to a stop with a budget bill.
The deal is $15 billion in state spending reductions, $12.8 billion in temporary tax increases, and $11.4 billion in borrowing. The Republican minority fought taking on more debt and on the already heavily burdened Californians with more taxes. The Democrats blamed the Republicans for delaying the bill by demanding tax cuts. To a Democrat, asking for tax cuts is just being stubbornly ideological, never mind that history proves that cutting taxes always increased revenues and tax increases always do the opposite. With the state taking more money out of consumer hands, incurring even more debt, and the steady stream of rules and restrictions that our clueless representatives place on California businesses, it is hard to imagine this budget improving our state’s investment ranking as worst in America.
