My Blog List

Thursday, February 11, 2010

Why We're Broke

For any of you that are unclear on why California will most likely be the first state to declare bankruptcy, this should make it crystal clear.

We are somewhere in the neighborhood of $20 billion (with a 'B') in the hole - give or take a billion dollars.  We are furloughing workers.  We send our debtors script when we run out of cash.  In fact, we're supposed to be totally out of cash by the end of March.  We pay double the rate of welfare payments that our fellow socialist state, New York, pays its serfs.

Yet somehow, in the midst of all of this financial strife, we are able to find $350 million dollars to pay for personal household improvements.
The state Public Utilities Commission on Thursday established the California Solar Initiative Thermal Program, which will be funded using $250 million to replace natural-gas-powered water heaters, with $25 million set aside for low-income customers. An additional $100.8 million will be used to swap out water heaters powered by electricity.
We're broke, yet we pull $350 million from some crevice to pay for upgrades to people's personal homes, or for tenant improvements in rental properties.

Not to be outdone, the feds get in on the deal as well.
The rebates could reduce the cost of a solar water heater by 15% to 25%, industry experts said. The federal government also offers a 30% tax credit.
Your tax dollars going into private pockets.  Thanks.

Well, I'm sure there's already plenty of demand for these types of systems, right?
The last year was "absolutely dismal," SolarRoofs.com President Al C. Rich said. The company sold about a dozen heating systems last year [without incentives] compared with 50 the year before [with incentives]. In the 1980s and 1990s, firms like his were regularly installing 10 systems a week [with obscene incentives], he said.
So, your tax dollars, which are literally taken at the point of a gun (try not paying your taxes and see who shows up), are being given to private property owners to pay for systems which are unable to economically support themselves.

Sounds like another form of welfare to me.  And we know how well California does that.

Accept The Challenge

If you are a Californian and are not actively working to reduce your "tax profile", you are insane!  If you make it, they will take it. 

I'm just waiting for Prop 13 to be overturned so the vultures in Sacramento can raise our property taxes.  Then things will get REAL interesting.

---
Copyright 2009 Bison Risk Management Associates. All rights reserved. You are encouraged to repost this information so long as it is credited to Bison Risk Management Associates. www.BisonRMA.com

5 comments:

Andrea said...

That's so funny! Not funny 'ha ha' but funny 'bless your heart'! California is so busy being green and politically correct, it doesn't care that it's writing checks it can't cash!

Chief Instructor said...

Andrea, it is so maddening. I read a recent article where some pinhead said the reason we're broke is because the politicians can't raise our property taxes! No concept of cutting costs - raising taxes will fix it all. They believe income redistribution is the way to go.

Unreal.

theotherryan said...

I really hope work never makes me live there. If they do I guess I would just keep my head down and take only politically correct guns with me. I wouldn't have issues with state taxes (no way on Gods green earth I would buy a home there) and would likely register my vehicles in our home of record.

If I wanted to take a Glock I would have to buy some 9rd (?) mags which doesn't appeal to me much. The only good thing is that I believe I have one of the few semi automatic rifles allowed in that state (M1 Garand).

The Hermit said...

My brothers both live in the PDRK, at least part of the time, and I'm utterly damned if I know why. If Kim Il Sung ran for Governor he'd win in a landslide.

Chief Instructor said...

TOR, military transfers to this state would be interesting. If a civilian moves to CA and has guns, they must all be registered within 30 days (I believe) as you are considered to be a - ready? - firearms importer. I kid you not.

If you lived off-base, you'd probably fall under this law.

Hermit, I believe he was only narrowly beaten in the Democrat primary for Senator by Feinstein. It was a toss-up, but she got the nod because she was taller. We like our commies on the tall side...