It is one of the things you know is “out there,” a fiscal landmine waiting to explode, something that is guaranteed to polarize the country along sectional lines when the cries start coming for the inevitable federal bailout:
1. One survey of business executives has ranked California as the worst state in America to do business for 8 years in a row.
2. In 2011, the state of California ranked 50th out of all 50 states in new business creation.
3. According to one recent study, California is the worst-governed state in the entire country.
4. Thanks to Proposition 30, California now boasts the highest state income tax rate in the nation.
5. Even though California just raised taxes dramatically on the wealthy, state revenues are falling like a rock. State revenue for November 2012 was 10.8 percent below projections….
Note: Oddly enough, Chuck Thompson had nothing to say about this in Better Off Without ‘Em. California has the most productive agricultural sector in the country which is being destroyed by the lunatics in Sacramento.
It is too bad we can’t leave the Union with our own slice of the California cake. The Golden State has abundant oil and natural gas reserves, access to the Pacific and Asian markets, and a lucrative agricultural sector which would be a real prize for the revived Confederacy to possess.