Friday, November 30, 2012

Californians Are The New Wetbacks Headed For Mexico

chrissstreetandco ^ | 11/30/12 | Chriss W. Street

President Obama met with the newly elected President of Mexico, Enrique Pena Nieto yesterday. While the press focused on the Administration’s talking points for discussions on a wide range of issues from energy to climate change, the real concern is that the Mexican economy is far out performing the U.S. and the new immigration concern is increasingly from Americans illegally moving to Mexico.
Nowhere is this trend more challenging than in California, which was just awarded the booby-prize by 24/7 Wall Street survey, as the “Worst Run State” in the United States. The State has unemployment: 10.1% (2nd highest), Budget deficit: 20.7% (17th largest), Debt per capita: $4,008 (18th highest), Median household income: $57,287 (10th highest), percentage in poverty: 16.6% (18th highest) and the worst credit ratings.
State politician’s answer to get finances back on track, was to convince voters to raise sales taxes and increase the income tax rates for people making over $250,000 a year to the highest in the nation. This wasn’t difficult, since 40% of Californians don’t pay any income tax and a quarter are on Medicaid. Residents making $1 million per year saw their state tax burden rise to $96,189 from $87,459 last year. For every dollar earned over $1 million, the California income tax rate jumps to 13.3%.
(Excerpt) Read more at chrissstreetandcompany.com ...

T-Shirt