Texas vs. California Update for February 21, 2013
Another Texas vs. California update! And I don’t even have a line item on how the Houston Rockets picked the Sacramento Kings’ pockets’ in yesterday’s trade.
All of TPPF’s Texas vs. California updates in one handy place.
California is raising taxes and decreasing services.
Mainly because pension funding is crowding out everything else.
Good news for California: They got $5 billion more in revenues than they expected in January. The bad news? It was only “an accounting anomaly.”
California voters approved a few modest pension reforms last fall. Naturally, unions are sponsoring legislation to have them overturned.
Logic: “No amount of legal argument can sidestep the grim numbers facing San Bernardino. The City Council and employee unions alike should recognize a basic fiscal fact: The city will never climb out of bankruptcy without reining in personnel costs.” Unions: You and your oppressive math and logic can die in a fire.
Who says California’s high taxes and excessive regulation are driving businesses away? According to The Sacramento Business Journal, 54% of Californians.
One reason businesses flock to Texas from California is lawsuit reform. Texas has it, California doesn’t. “For decades, its leaders have consistently pursued policies that promote excessive litigation, making it among the most litigious states. These policies create obstacles for the new and small businesses that drive California’s economy and have allowed abusive lawsuits to delay or halt projects.”
The Economist sniffs that Texas’ spending restraint meant the state spent less than the could have. That’s not a bug, that’s a feature.
Liberal compares Rick Perry to Stalin because Texas won’t spend as much as liberals think they should. I’m sure we all can agree that was the very worst thing about old Joe Stalin: Fiscal restraint.
Tags: California, pension crisis, Regulation, Rick Perry, San Bernardino, Texas, unions