As San Diego county in Southern California burns, there is more news about the move by Toyota to Plano, Texas. It is being estimated that the Texas economy will see a $7.2 billion dollar increase as a result of the move. The politicians in California don't get it. You can't fleece businesses and not have consequences. If it is possible for businesses to move, they will move and take all the related income with them. You can't tax your way to prosperity. Just like you can't borrow and spend your way to prosperity. California has extra income now, but it will not last. If stocks drop and more businesses move out of the state, tax income will drop and California will be back in the mess it just got out of. Ouch, as a teacher I just got my furlough days back. How long before I have to take furlough days again? A year?
What do you think?
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