I haven’t written much about the budget battle in California because I don’t really understand it. But I did find a relatively coherent article in the Los Angeles Times that I think covers the highlights.
The bottom line is–it is going to cost more to live in California. According to the article:
“According to a legislative analysis of those four tax increases, an average family of four with an annual income of $75,000 would pay $963 more a year in taxes.”
As I have said, I really don’t know a lot about California, but from what I have heard, $75,000 a year in that state is not a lot of money.
The voters will get a chance to vote on some of the provisions of the tax bill. I’m not sure what the consequences of their voting will be.
The real shame in this is that it is totally unnecessary. California has enought offshore oil to totally fund their budget. You have to wonder why they are so afraid of the environmentalists that they have not tapped it. Just for the record, it can be tapped in an environmentally safe way.