I mentioned yesterday that I’ve never understood Democrats inability to grasp basic fiscal fundamentals, regardless of how many times they’re exposed to the simplest of financial realities.
I sometimes think this shortcoming is due to disinterest in these kinds of matters, whereas Dem’s tend to prefer focusing on social and personal preferences, rather than the hard realities of life. Their attitude seems to be one where others take care of their monetary needs. So why worry or bother to learn about economics? Then again, my rationale gives them credit for making a conscious decision to ignore details perceived unneeded .
But, perhaps I’m overrating them and the fact instead is that they’re simply outright ignorant, card-carrying, self-defeating morons.
I’m going to go with option two this morning because of an article I read on Fox News on-line by Joseph Weber, headlined “New tax increases in California stir debate about adding to exodus.”
Mr. Weber writes that, “A vote last month that makes Californians among the highest-taxed residents in the country is sparking debate about whether the Democrat-back initiative will backfire, by forcing high-earners to join a long exodus from the cash-strapped state.
Democratic Gov. Jerry Brown successfully pushed the tax increase by suggesting that high-earners must shoulder the largest burden in bailing out the state, particularly its debt-ridden public school system. However, high unemployment and government debt have already sent residents fleeing in large numbers – an estimated 225,000 annually for the past 10 years.
And the recently passed tax increase for families making more than $250,000 each year could further shrink the tax base for California, whose 2012 budget deficit is projected to hit $28 billion.
Ex-Californians over the past decade have already put roughly $5.67 billion into Nevada’s economy as well as $4.96 billion into Arizona and $4.07 billion in Texas, according to Manhattan Institute study titled “The Great California Exodus: A Closer Look.”
Now, what I absolutely can’t fathom is exactly how dumb you really have to be not to realize that the smart guy’s in the room, and almost always the one’s making all the money, aren’t going to sit around and permit anyone, deadbeats in particular, to keep on picking their pockets. Especially so when the spending is due to gross governmental mismanagement and continual wasting of billions upon billions of top-rung taxpayer’s hard-earned assets.
So, as I’ve written before many times, my predication is that buffoons like Gerry Brown along with the incompetent in the White House are going to wind up surrounded by the largest contingent of flat-broke nitwits in existence, because all the smart bucks are going to go elsewhere or underground.
But now, having seen the obvious problem facing California, along with the total failure of every socialist state that ever existed, I come back to my original question: How fundamentally limited are Democrats intellectually? I guess I’ll have to check with Nancy Pelosi and Barbara Boxer on that one.
That's it for today folks.
Adios
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