If California is home to most of the wealthiest people in the US, why is the state broke? There MUST be plenty of money from taxes, especially from the massive amount of wealthy places and people in CA. I really do not understand how this happens. Obviously, the social programs are a drain on the State.
Answer by SamanthaAgain at 4:23 PM on Feb. 14, 2009
Answer by Anonymous at 4:24 PM on Feb. 14, 2009
Answer by Anonymous at 4:26 PM on Feb. 14, 2009
Answer by aliciatron at 4:26 PM on Feb. 14, 2009
Answer by Anonymous at 4:27 PM on Feb. 14, 2009
Answer by SheriSanchez at 4:46 PM on Feb. 14, 2009
Answer by trippyhippy at 4:59 PM on Feb. 14, 2009
Answer by SheriSanchez at 5:05 PM on Feb. 14, 2009
Econ is not my forte' but as a Cali native I have tried to keep up with the issues we have. 1. Our Constitution requires the voters input on many measures, like bonds. This is great in theory but the average person doesn't know the impact of some of these things 2. I don't think they are the whole problem but illegals do cost.
3. Arnie's special election on his 4 measures that failed costing $70-80 million didn't help. 4. Our state legislature got spending happy during the dot com and real estate bubbles and haven't adjusted back down now that revenues are down