The financial stories over the past two weeks are enough to drive a person to drink….(but only if the person can afford it.) Consumer spending is down. Consumer wallets zipped shut. Drops in key barometers of the health of consumers. Investors fret strapped consumers won’t be able to carry on a recovery in the economy . Personal income –flat.
For California’s workers, it has just become a lot flatter. The state –this week–began digging a little deeper into the pockets of workers. This, in addition to upping the income tax right along with the car tax increases earlier this year. If Californians didn’t have the discretionary spending money before (which they didn’t) they have even less now.
The state of California is taking an additional ten percent off the top of wage earners salaries now, just in time for the Christmas shopping season. The Los Angeles Times refers to it as a “forced interest-free loan” which California workers are making to state government. (Somebody has to pay for that luxury weekend enjoyed by CalTrans workers at that luxury resort in Desert Palms. Somebody has to pay for those fifty brand new Prius automobiles purchased by the state….now sitting unused on the top floor of the capitol building.)
If someone broke into your house and stole ten percent of your paycheck, and left a note promising to pay it back at some point in the future, would it still be considered “stealing”? If a mugger grabbed an old lady’s purse and stole ten percent of what she had in it (and promised to pay her back at some date in the future,) would it still be called “purse-snatching” “strong-armed robbery”?
It was bad enough when the governor and our democrat controlled state legislature raised the state income tax (and car tax) in February….and now they’ve come back to grab ten percent MORE. Oh yes….they’ve promised to pay it back at some point in the future.
Stealing and strong-arm robbery, courtesy of the governor and democrats in our state legislature.