With a supermajority, California’s Democrats have unfettered power, and they will screw it up. They will raise taxes on businesses and the wealthy. They will hike fees for various state services to raise more revenue with which to spend foolishly. They will hike spending. They will dramatically increase regulation on the ignorant belief that government oversight trumps the necessarily cruel hand of free-market economics. They will increase salaries and benefits for the constituents that keep them in power – namely rapacious state-workers’ unions.
Undeterred by that pesky need for sensible compromise now that Republicans are voiceless, the Democrats will ultimately create far greater fiscal woes for California, a state that is arguably the country’s most financially deranged already. And, I predict, their actions will spur an overwhelming grassroots movement among aggrieved, sensible Californians who will ultimately seek a referendum to split the state into smaller, more manageable pieces.
It is, quite likely, the future of California … and ultimately the future of America, given the deep and growing political, economic and social bifurcations that are epidemic in our country today.
Saturday, December 29, 2012
California’s New Democratic Supermajority is the Path to a Smaller America
The Sovereign Investor sends me stuff all the time. To this day I don't know whow they got my email address. But anyway, they had this to say about CA: