Higher Taxes = Fewer Jobs

So, you might ask, what is the problem with raising taxes? Read the following excerpt from a Manufacturing Industry Report on the state business in California...

"Harder to Compete for California Companies

California’s manufacturers find it harder to compete because the business environment grows
increasingly unfriendly. In 2005, California dropped to 50th in ranking in the Small Business
Survival Index by the Small Business & Entrepreneurship Council (SBE Council), and its rank
did not change in the 2006 and 2007 reports. However, California’s rank rose one point to 49th
in the 2008 report, with New Jersey dropping to 50th. This low overall ranking was based on
California’s anti-business environment in the following areas:

• Highest personal income tax rates
• Highest state gas taxes
• Highest capital gains tax
• 5th highest cost of worker’s compensation premiums
• 6th highest electric utility costs
• 8th highest corporate capital gains tax rates
• 9th highest corporate income tax rates
• High state and local property tax rates

California will undoubtedly drop to 50th when the SBE Council takes into account the increases
in taxes passed by the state legislature to address California’s estimated $11-12 billion deficit for
the fiscal year 2008-09. The California Chamber estimates that businesses and investors will be
paying $5.8 billion more in taxes in 2008-09 and $1.6 billion more in 2009-10."
--San Diego County Manufacturing Industry Report
“What’s Happening in Manufacturing??”
November 2008, by Michele Nash-Hoff

Who cares about California? YOU should -- because as the old saying goes, "As California goes, so goes the nation." California is/was 10% of the nation's economy, and they are/were about the 8th largest economy in the world.

If the B.O., Pelosi, Reid and the rest of their cabal of fools want to kill off more jobs than they can imagine, just go ahead and raise all those taxes. It has worked for California. Brilliant!