• Home
  • About Us
  • Political Analysis
  • Fundamentals Of Conservatism
  • CIVICS 101
  • Video Commentary
  • Political Consulting
  • Home
  • About Us
  • Political Analysis
  • Fundamentals Of Conservatism
  • CIVICS 101
  • Video Commentary
  • Political Consulting
Facebook Twitter Instagram
The Conservative Era
Subscribe
  • Home
  • About Us
  • Political Analysis
  • Fundamentals Of Conservatism
  • CIVICS 101
  • Video Commentary
  • Political Consulting
The Conservative Era
Home»Political Analysis»California Proves Destructive Liberal and Progressive Policies Must Be Avoided
Political Analysis

California Proves Destructive Liberal and Progressive Policies Must Be Avoided

Don PurdumBy Don PurdumFebruary 28, 2023No Comments3 Mins Read
Facebook LinkedIn
Share
Facebook Twitter LinkedIn Pinterest Email

The media has well chronicled over the last few years that millions of people are fleeing California for red states. Idaho, Texas, Florida, and Missouri are some of the top states picking up California’s refugees.

It appears that things are continuing to get worse in the Golden State. Its economic condition, thanks to liberal and progressive economic and tax policies, is proving to be a deadly cancer. On February 15, California Legislative Analyst’s Office (LAO), a government state agency that operates much like the Congressional Budget Office (CBO) for the legislature, released a damaging assessment of the state’s disastrous policies.

Democratic Gov. Gavin Newsome said last year he expected the state to run a deficit. Still, how did Democrats not see this one coming? In 2022, California ran a $100 million surplus due to federal COVID relief and surging capital gains. Now, the LAO says the state will run a $22.5 billion deficit in the next fiscal year.

Here’s the striking part, it’s $7 billion worse than Newsom predicted. Here’s why — the state lost $10 billion in projected tax revenues. 

The economic decline is already accelerating. In this fiscal tax year, California is experiencing economic trouble. In January, the monthly tax revenue was $14 billion lower than in January 2022. The current fiscal year started in July 2022, and the LAO says state revenues are currently $23 billion lower than expected.

Now, consider this…

  • California has the highest income tax rate of any state in the country at 13.3%.
  • The top 0.5% of taxpayers cover 40% of the total state income tax.
  • 1% of the total income tax returns filed in 2020 accounted for 40% of all personal income taxes.
  • Silicon Valley’s share of capital gains taxes is declining significantly as the tech sector has been hit hard economically, and companies cut tens of thousands of employees and bonuses.

If the state enters a recession this year, things will get even worse. The coffers could drop between $30 billion to $50 billion. 

Despite the headwinds, state Democrats are still calling for an expansion of social programs.

Needless to say, liberal and progressive Democrats are creating a nightmare situation. 

Unlike the federal government, a state cannot simply print money or manipulate the US dollar. It must live within its means. So, California must either cut its budget or raise revenues through increased taxes.

Pretty soon, all that may be left are the poor and ultra-rich. The state is driving out the middle-class class who can’t afford the high cost of living due to policies that are driving up energy, food, and shelter prices to unsustainable levels.

Yet, Democrats nationwide appear to want California policies at the federal level.

If it’s a disaster in California, how much worse could their policies make things nationwide?

Let’s hope we never find out, but God help us if we do.

Don Purdum

The Conservative Era, Copyright 2023

Destructive Policies featured liberalism overcoming progressives Taxes
Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleCities are Preparing To Use Federal COVID Dollars to Pay Reparations, But Is It Constitutional or Wise?
Don Purdum
  • Website

Related Posts

Cities are Preparing To Use Federal COVID Dollars to Pay Reparations, But Is It Constitutional or Wise?

February 23, 2023

Has Liberalism Decimated the Hopes and Dreams of an Entire American Generation?

February 22, 2023

Are Hospitals Inviting Government Intrusion and Healthcare Socialism?

February 17, 2023

What Will It Take To Fix Social Security, and What Are the Consequences?

February 15, 2023

Consider a Donation to support our work!

  • Facebook
  • YouTube
  • LinkedIn
  • Twitter
Tags
abortion American Dream Campaign Strategy Censorship conservatism Corruption cultural crisis debate Debates Deficits Democracy DeSantis Discrimination Education Elections Equity Extremism featured Founding Fathers Freedom of Expression Free Speech Fundamentals Government Dependancy Government Spending Grassroots liberalism Liberty MAGA Misinformation overcoming progressives Partisanship Political Division Polls Poverty School Loan Forgiveness Separation of Powers Socialism Supreme Court Tax Cuts Taxes Trump US Constitution Videos Voting women
Don't Miss
Political Analysis

California Proves Destructive Liberal and Progressive Policies Must Be Avoided

By Don PurdumFebruary 28, 2023

California Democrats have destroyed a once great state. Now, things are getting worse. The state is losing tens of billions of dollars in tax revenues. Bad policies are driving out residents, and things are spiraling as liberals and progressives live in denial.

How bad is it really, will it get worse, and is California progressivism about to strike a dagger in America’s future?

Cities are Preparing To Use Federal COVID Dollars to Pay Reparations, But Is It Constitutional or Wise?

February 23, 2023

Has Liberalism Decimated the Hopes and Dreams of an Entire American Generation?

February 22, 2023

Are Hospitals Inviting Government Intrusion and Healthcare Socialism?

February 17, 2023
The Conservative Era
The Conservative Era

Your source for Conservative political analysis.

Facebook YouTube LinkedIn
  • Home
  • About
© 2023 The Conservative Era.

Type above and press Enter to search. Press Esc to cancel.