"California raised a bunch of taxes this year. Its economy hasn’t collapsed."

[applegrove]

California raised a bunch of taxes this year. Its economy hasn’t collapsed.

By Jim Tankersley at the Washington Post

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/08/22/california-raised-a-bunch-of-taxes-this-year-its-economy-hasnt-collapsed/?wprss=rss_business&clsrd&wpisrc=nl_wonk_b

"SNIP..............................


Six months ago I wrote that California was diving into an interesting political and economic experiment: Could it keep adding jobs even after slapping its wealthiest residents with the highest state income tax rate in the nation? Most of the economists I talked to in the state predicted the tax hikes wouldn’t matter much. A lot of conservatives wrote me to predict the opposite.

What’s happened since? Well, California kept adding jobs, and at about the same rate as the nation overall. Private-sector employment rose by 0.8 percent in the Golden State from January through July. Across the country, it rose 0.9 percent.

The analysts at Beacon Economics in Los Angeles noted recently that California accounted for a quarter of the nation’s net job growth last month. The State Department of Finance reports that there were 374,000 fewer unemployed Californians in June than there were a year earlier: “The year-over-year decrease was the largest on record.”

Unemployment isn’t as good of a measure as job growth, because it includes people moving in and out of the labor force. Still, the stats show California’s unemployment rate a) remains higher than the national average and b) has fallen faster than the nation’s since January, dropping a full percentage point.




.............................SNIP"

[doc03]

1. I asked my Faux News addicted friend if he heard that California

turned around and was showing a surplus now that Governor Brown took office. As I figured they don't report that kind of thing on Faux.

[Notafraidtoo]

2. Those people will stay in California.

Cant beat a huge educated, experienced workforce that no other state in the nation can compete with, The brain drain in the south moves to Cali because that's where the jobs for smart innovative people are, conservatives don't care about smart innovative people they just want cheap workers and that's why they go to Texas or Oklahoma.