" . . .Why do those who don’t or can’t leave put up with it? Why do they keep electing the same cast of criminals who are stealing their money and ruining their state?. . .
"Over the weekend, we learned that the Golden State loses one taxpayer to another state every minute, and faces an $18 billion budget shortfall, which is $5 billion higher than was projected just a few months ago.
"We also learned that only now, 10 months after wildfires destroyed thousands of buildings in the Los Angeles area, has the first home been rebuilt.
"These stories are yet more evidence of a completely dysfunctional state captured by ideologues who couldn’t care less about the harm their policies cause. Will voters there ever learn?
"The National Taxpayers Union Foundation used IRS data to calculate how many taxpayers are moving into and out of states each year.
"What it found was stunning. California is losing taxpayers at a rate of one every 1 minute 44 seconds – the fastest of any state in the nation. That amounts to billions in lost tax revenue every year.
"Florida, in contrast, is gaining taxpayers at a rate of one every 2 minutes 9 seconds.
"Meanwhile, California’s Legislative Analyst’s Office just reported that the state faces an $18 billion shortfall next fiscal year, which is $5 billion higher than it projected a few months back and which will likely “grow to about $35 billion annually due to spending growth continuing to outstrip revenue growth.”
"The report also cautions that even this outlook is optimistic because the current AI stock bubble is masking the state’s dire fiscal situation. California is ridiculously dependent on capital gains taxes. “With so much enthusiasm surrounding AI, it now appears time to take seriously the notion that the stock market has become overheated,” it warns.
"The report calls the state’s budget position “weak,” which has to be the understatement of the year.
"Next, we come to the weekend story in the Los Angeles Times to find that “The first home has been rebuilt in the wake of the Palisades Fire.”
"Los Angeles Mayor Karen Bass calls it “an important moment of hope.' ” . . .
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