Monday, February 18, 2013

Despite tax hikes California shows signs of life

SAN FRANCISCO — If there’s anyplace in the country where rising tax rates should choke off an economic recovery, it’s California. On top of the federal tax hikes that kicked in last month, the state has just raised income taxes on its wealthiest residents to the highest levels in the nation, a move conservatives warn will drive millionaires and their companies to other states, taking jobs and growth with them.

The increases come as California’s economy continues a remarkable turnaround. A year ago, the state was a mess, with double-digit unemployment, a bottoming-out housing market and scary budget deficits. Now, hiring is up faster than the national average, and the housing market is regaining strength. Even the state budget is back in the black.
Read the rest here.

1 comment:

Matthew M said...

Who wrote this crap? "California’s economy continues a remarkable turnaround". REALLY!?!
I am not seeing it around here and 95% of my former co-workers who were let go when our company went under can't get interviews let alone jobs.