Saturday, January 24, 2009

California at the Tipping Point

From the Chicago Boyz:

I think a threshold or tipping point exists in the ratio between the political power of those who pay taxes and those who consume taxes directly. After that tipping point is reached, those who pay taxes become the economic slaves of those who consume taxes.

I think California has passed that point.  Tax consumers now control the state government and can vote themselves almost any level of personal income and benefits they wish while taxpayers cannot muster the political capital to defend themselves.

Read the whole article, and the comments.  CA is in deep financial shit, and unfortunately the state is frequently a forerunner of the rest of the nation.

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