Raining Californians Again

The eight states north and east of California are preparing themselves for new record levels of fleeing Californians.

In response to having spent all of their substantial take from taxpayers, a coalition of 76 Democrats and 6 Republicans today passed a $13-billion tax hike. Nevada political pundits jealously coveted the plan’s “stable tax structure.”

The tax hikes include a full percent increase in sales tax, increasing the state income tax to 14%, and doubling car registration fees. The tax hike packages is about 65% the size of Nevada’s 2003 tax hike package, on a per-capita inflation-adjusted annual basis.

Standard & Poor’s has cut California’s credit rating to last place amongst 50 states.

Here’s coverage from the Wall Street Journal.

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