The seeds of California’s current crisis were planted more than 30 years ago, when voters overwhelmingly passed Proposition 13, a ballot measure that placed the state’s budget in a straitjacket. Property tax rates were capped, and homeowners were shielded from increases in their tax assessments even as the value of their homes rose.Paul Krugman fails to mention California's massive increase in government spending the last several years.One has to laugh about how the Republican party in California is to blame according to Krugman.Remember, this is the ultra-Blue state of California. Maybe the 3600 California prison guards making over $100,000 a year should hire Paul Krugman as a press agent.
Monday, May 25, 2009
The NYT's Paul Krugman Thinks California' s Problems are Due to Lack of Taxes
Paul Krugman of the New York Times say California doesn't have enough taxes: