CA tax revenues continue to drop despite tax hikes. “At the end of November, ‘taxes were 3% short in the fiscal year that started in July,’ which is ‘a gap of $936 million.’ The state was 0.7% short a month before.” Gee, what about those prestigious “studies” Moonbeam had done that showed people don’t care how high tax rates were? Hope he didn’t borrow money to pay for ‘em.

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deepthinker January 4, 2013 at 3:35 pm

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As folks are abandoning CA (looney land), please leave your left and socialist ideas there. They dont need to expand. Just look at the state you are fleeing.

CO2Insanity January 4, 2013 at 3:54 pm

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The loonies don’t get it. Never will, as evidenced by the idiot Dems they keep sending back to office. Like the man said, insanity is doing the same thing over and over and expecting a different result. California seems to fit this definition nicely.

danybhoy January 6, 2013 at 5:00 am

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Here is a feature on the singer of Iron Maiden, Bruce Dickinson, who is working on a startup in the aviation industry. His comments the taxation & regulation in America is spot on. What is sad, is that the frontman of a heavy metal band gets it & the dumb M-effers who all have Ivy League educations & Nobel Prizes don’t…

http://online.wsj.com/article/SB10001424127887324640104578161103488741518.html

By ANNE JOLIS
London

For three decades, Bruce Dickinson has been an object of worship in the headbanging world of hard rock and heavy metal music. Last May, the Iron Maiden frontman became a hero to an entirely different crowd—namely, a political establishment desperate to claim industrial revival.

“This is exactly the type of investment needed,” declared the Welsh business minister of Mr. Dickinson’s plan to “create hundreds of highly skilled engineering jobs” with a new aircraft-maintenance venture in Cardiff. His own statements at the time had featured the words “cautious projection” and “up to,” but no matter: “Iron Maiden singer pledges 1,000 new jobs to Wales,” read one typical headline. The U.K. Trade and Investment bureau promptly began figuring the top-end projections into its tally of “jobs new and safeguarded.”

Seven months and a few reams of paperwork later, Mr. Dickinson was good enough to meet me for coffee and an update: Cardiff Aviation Ltd. now employs a grand total of 40 people, and expects to have between 100-125 by the summer.

“And, well, that’s not bad!” says Mr. Dickinson, who’s quick to note that even rock gods live in “the wonderful world of practicality.”

***
That can be easy to forget, given Mr. Dickinson’s record. His tenor belting has helped sell more than 85 million Maiden albums since he first joined the band in 1981, and created more jobs for T-shirt vendors than any ministry could hope to count. The 54-year-old superstar—also a competitive fencer, successful novelist, licensed pilot and serial entrepreneur—has resurrected heavy metal from the commercial trash-heap more than once. Surely he could do the same for heavy manufacturing.

So what specifically is standing between him and his best-case vision in Cardiff?

“Clearly aviation is a highly regulated industry, and it does take time for the wheels to grind,” Mr. Dickinson says carefully. At first glance, he almost blends in with the dark-suited bankers milling through the courtyard of the Royal Exchange. Look closer and you’ll spot the rocker, his navy suit in pinwale corduroy, the hair a good two fingers longer than City standard.

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Zina Saunders
.While governments like to tout their courtship of skilled manufacturing jobs, in practice “civil servants, on some level, are almost institutionally prejudiced against entrepreneurial activity and risk,” Mr. Dickinson goes on. “Of course nobody wants to return to the dark ages, no one wants to return to fundamentally unsafe work practices.” But he warns that overregulation and the burgeoning “health and safety thing” add up to “an industry that is eating itself, that has been created and is creating an entire industry which will eventually consume manufacturing and retailing.”

The result is that Cardiff Aviation, for instance, currently has “five million dollars worth of heavy engineering machinery—we have enough stuff in our hangar to build an airliner, let alone maintain it,” says Mr. Dickinson. But the company is still waiting on its certifications for heavy-duty work, and in the meantime, “we can’t afford to have people sitting around doing nothing.”

I ask how the Cardiff site’s location in Wales’s official “Aviation Enterprise Zone” is helping with the red tape. Mr. Dickinson responds with a chuckle: “I wish I could tell you exactly what an ‘Enterprise Zone’ is.”

“No, there are some benefits,” he says, such as “direct access to some very very proactive civil servants” in Wales. “And they can give us some breaks—temporary breaks on things like business rates,” a form of property tax.

“But they are limited,” he adds of the Welsh authorities, with no control over most regulations or, for example, British value-added tax rates. “If they could defer VAT, so you don’t have to charge 20% tax on everything you do, that would be massive.”

***
The retort that lower taxes would fund less government is unlikely to go far with Mr. Dickinson, who says he “would cheerfully pay the amount of tax I do at the moment if I didn’t pay it to the government.”

As it stands, “No, I’m not a famous British tax exile,” he sighs, confirming that he pays the current 50% rate outright on his personal income (dropping to 45% in April). “I live here. And I pay my tax here. Whilst I think the rate of tax is too high,” he shrugs, “I like living here.”

That arrangement not only sets him apart from the likes of Ringo and Mick (respectively domiciled in Monaco and the Virgin Islands). It also means that “I pay about 500 times more tax than Amazon,” which makes a quarter of its non-U.S. sales in the U.K but bases its European operations in Luxembourg, thus escaping most U.K. corporate taxes.

“It amused me when I found out how much tax they didn’t pay, and how much tax I pay as a personal individual,” he says, with a smile that suggests he wasn’t all that amused.

What really seems to get him, though, is that “there is so much money wasted on the inland revenue. It’s vast, the costs involved, on both sides. People employing clever accountants and lawyers and all this nonsense, and then a massive amount is spent by the Exchequer chasing them all over the world.”

As if to prove his point, Her Majesty’s treasury last month announced it would spend an extra £77 million on more tax inspectors, and said it will propose new legislation this year to target “abusive tax avoidance” of the sort that’s perfectly legal today.

The alternative, endorsed by Mr. Dickinson, would be a flat rate. “You simply say everybody has to pay it—if you’re born in this country, you pay 20%. End of story, no tax exiles, you want to live in Monaco, fine—20%.”

Inescapable income taxes are a feature of the U.S. fiscal code, though it’s hardly flat. I put that to Mr. Dickinson and ask if—given the costs, regulations and rigamarole in Britain—he’s ever considered taking his projects to the U.S.

“Well sadly, I think I’d rather open a business in this country than the U.S.,” he says. “The U.S. is—it’s a minefield. Open a business in California? You must be joking. The lawyers, the taxes—people talk about high taxes here. Well, yes they are high, but in America, in the places you might really want to open a business—New York, L.A.—you’ve got state taxes, city taxes, state income taxes, city income taxes—you add that lot up, you’re paying more over there than here.”

None of that makes the U.S. coasts particularly attractive for employers of any kind, let alone multimillionaire rock stars. And Mr. Dickinson is firm that, whether you’re touring the world with a metal band or trying to run a more mundane business, “You’ve got to have a vision, but you’ve also got to have common sense.”

He learned that a while ago. “One of my earliest ventures was when I was nine years old,” he recalls. “I realized there was a shortage of pencils at school, so I started Rent-a-Pencil. But I made a fundamental mistake”—he’d failed to secure his inventory. “Everybody stole my pencils.”

PsychoDad January 4, 2013 at 5:27 pm

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Ya know, I’m just reminded of something from long ago. When I was a kid*, I had an album of Danny Kaye telling children’s stories and folk tales from around the world.

One of them was about a foolish couple enduring a harsh winter, and for whatever reason, instead of going out to chop a tree for more firewood, the first thing he does is pull down his fence to burn — so now the wind chills them even more, and he needs more wood. So it goes on, he gradually pulls the shutters off the windows, the shingles off the roof, etc. And he comments to a rather confused neighbor, “It is a most curious (wood) stove, for the more we feed it, the colder we are!” I think it ends with them sitting on a bare piece of land, empty except for the stove.

So yeah, I guess you can all see the point, despite the humor of the story it makes a rather serious point about entropy and perpetual motion, which are just as applicable and immutable to economics as to wood stoves. Too bad Danny isn’t around to give a lecture in Sacramento.

*Did I really just say “long ago” about when I was a kid?

poppajoe49 January 4, 2013 at 11:41 pm

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Yes you did, welcome to the old farts club.

flashingscotsman January 5, 2013 at 9:06 am

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I always use the term “a long long time ago.”

sa_rose January 5, 2013 at 12:47 pm

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“i can still remember….”

ooddballz January 5, 2013 at 1:56 pm

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Back in the day…..

poppajoe49 January 5, 2013 at 2:55 pm

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We used to.

sifi January 5, 2013 at 3:15 pm

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There was a time when….

flashingscotsman January 5, 2013 at 3:36 pm

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When I was a kid,…….

GhostntheMachine January 7, 2013 at 6:41 am

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We walked to school, 5 miles. Uphill. Both ways!

In the snow, dammit!

poppajoe49 January 7, 2013 at 6:46 am

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I only had to walk 1-1/2 miles.

drb January 7, 2013 at 8:00 am

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with no shoes

flashingscotsman January 7, 2013 at 11:08 am

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“I made shoes out of cardboard boxes.”

“You had CARDBOARD!?”

Joe Redfield January 4, 2013 at 5:29 pm

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Of course that won’t be true at the national level because…uh…er…because…um(Would some Progressive please help me out here and explain why increasing tax rates on people making more than 400K per year will bring in more tax revenue?)

poppajoe49 January 4, 2013 at 11:42 pm

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Because it will.

Libtard Logic.

deepthinker January 5, 2013 at 7:50 am

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As people begin to receive their first pay checks of 2013, we are seeing that we are all 400k rich. FICA is up, SSN is up and all other taxes are up.

Thank all of you 51% free loading ass holes who feel they need to have everything for free and wish not to work. It is time to return to the mentality that which this country was founded on. If you are able to work and don’t work, you don’t eat.

poppajoe49 January 5, 2013 at 7:58 am

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FICA (Social Security) and Medicare tax cuts were one thing where Bush was wrong. Cutting those taxes only exacerbated the underfunding of SS and Medicare. I have no problem with paying the extra couple percent if they will guarantee me that the money will be there when I retire and am eligible to collect. Remember, that being self employed, I pay double the FICA and Medicare taxes you pay, plus I have to pay into my employees FICA and Medicare, in an amount equal to what they pay.
I don’t mind it so much, since there is no way to get around it, and it has become expected that we will collect SS when we retire. But, damn it, leave that money alone! Keep it in the fund it is supposed to be in!

Sidekick January 5, 2013 at 8:07 am

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There is no SS fund. The money goes right to the general operating account and SS benefit checks are cut from that account. The fund, so to speak, is nothing but a repository of IOUs from the Treasury Department. Thank LBJ.

flashingscotsman January 5, 2013 at 9:08 am

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Paying an extra couple percent is in way going to guarantee that there will be money there for you and me, Poppa.

DefHarryMelon January 5, 2013 at 9:19 am

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I disagree. As ponzi schemes work, the money goes out as soon as it comes in. Some people believe the money they pay into it now goes into some place where it gets saved or invested for future use. It does not. When there were more people paying into it the surplus grew and grew. But it was really just a number on a ledger, until it got so big and ripe the gobs couldn’t resist ‘borrowing’ from it. So, as it was designed, the money that goes into it is used to pay for the people that paid into it for years and now get benefits from it, even though the dollar has devalued so far that the amounts are fairly less significant in value, and there are fewer people contributing and more people taking. That’s exactly how the ponzi schemes terminate, exposed and with the last players left holding the empty bag.

poppajoe49 January 5, 2013 at 2:52 pm

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But, if they had left the damned surplus alone, and lived within their means, (I know, LMFAO), then, when the deposits didn’t equal the outlay, they could still pay the retirees.

DefHarryMelon January 5, 2013 at 3:31 pm

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Sure, if the surplus hadn’t been swiped. But now, with the numbers of retirees exceeding the number of donors, or nearly so, and only getting more so, the fund cannot keep up. Any surplus that could have been built if all the corrupt grabbers hadn’t granted themselves the ability to ‘borrow’ it, would diminish rapidly with the shift occurring. Again, all of these positives would be negated by the rampant devaluation of the dollar anyway.

sa_rose January 5, 2013 at 12:49 pm

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And when you DO get to an eligible age (which is lookinglike its going to be 95 pretty soon) they will tell you its an etitlement and needs to be cut along with the money given to welfare cheats.

poppajoe49 January 5, 2013 at 2:48 pm

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But, there is SUPPOSED to be a fund.

Sidekick January 5, 2013 at 3:10 pm

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There was. LBJ was the first to raid it to pay for his schemes.

flashingscotsman January 5, 2013 at 3:41 pm

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But there was never an account, with money in it, and your name on it, being invested for you by somebody trained at such things, like if you had invested that money in a private retirement account.

sa_rose January 5, 2013 at 7:57 pm

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Though at the time of its inception the theory was that if the government went bancrupt, we would all be in trouble anyway, regardless of the SS fund. Oh wait. . .

danybhoy January 6, 2013 at 6:04 pm

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LBJ is 1 of the worst Presidents in our history, & maybe 1 of our worst Americans.

poppajoe49 January 6, 2013 at 6:56 pm

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It seems like they want that title!

Neo-7 January 4, 2013 at 5:59 pm

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Remember that whatever you subsidize , you get more of . Whatever you tax , you get less of .

I defy anyone to show this is not the case .

PsychoDad January 4, 2013 at 6:24 pm

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Um, “green energy” subsidies? I can only assume you mean “subsidize” in the sense of tax =breaks=.

Neo-7 January 4, 2013 at 6:32 pm

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“green subsides ” have almost all been failures . When you dream up bad ideas , throw in someone else’s money , you get bigger failure.

Subsidizing broken families === even more broken families .

What you tax , you get less of .

And on and on it goes .

poppajoe49 January 4, 2013 at 11:43 pm

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Tax the rich, and you get less rich to tax.

flashingscotsman January 6, 2013 at 9:38 am

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So, if you subsidize failing green energy companies, what you get is more failing green energy companies. Proving the maxim.

Extirpates January 4, 2013 at 6:37 pm

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Headline is right on the money!!! 87)
A big economic problem for Cal…
Too many pro tax do-do heads in Sucsramento,
Raising Taxes lowers government revenue,
Lowering taxes raises government revenue,
So what does Jerry SFB Brown do, raises taxes which lowers revenue,
What should he do, Lower taxes and raise state revenue,
Somebody read this to him or draw pictures.

Not so silent January 4, 2013 at 8:14 pm

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I don’t think ass clown Jerry Brown or that Obese fat ass from L.A. that is speaker of the assembly or Daryl Steinberg the senate leader understand anything about economics, they think they can just tax more and get more. Trouble is you tax more you get less and your budget hole starts to look like Michael Moore’s mouth in search of food, a hole so big nothing can fill it.

They wander around the capital patting each other on the back for such a great job, trouble with Kalifornia is none of them could make it in the real world, take away their perks and power and you would be left with a bunch of zombies like the movies, wandering around looking for trains..I mean mean brains…

God please let a meteor hit Sacramento during the middle of the week.

Joe January 5, 2013 at 12:01 am

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But I can’t draw. Well I don’t live in California either so I guess it’s alright.

Progressive Hemrrhoid January 5, 2013 at 7:02 am

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So when should we start up the California Default Lottery? Everybody can draw a number (too bad it’s going to happen withing the next couple of years) and try to pick what month the state finally goes belly up.

poppajoe49 January 5, 2013 at 7:32 am

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Unless I would win my choice of properties on the Pacific Palisades, tax free, I wouldn’t give a shit about drawing a number!

jcrowley1985 January 5, 2013 at 9:21 am

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Hidden due to low comment rating. Click here to see.

MDLION January 5, 2013 at 9:26 am

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I blame Government Greed.

jcrowley1985 January 5, 2013 at 10:19 am

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danybhoy January 6, 2013 at 6:02 pm

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Not entirely. But it is called FACISM.

sa_rose January 5, 2013 at 12:51 pm

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I blame idiots like Crowley!

Not so silent January 6, 2013 at 12:20 am

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Just so you know rose, there is a statute in Kalifornia and most states that a Moron, Idiot, or Imbecile can not be held responsible for their actions, I think it’s called the Crowley decision…:)

drb January 6, 2013 at 7:01 pm

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yeah but can’t we lock them up so they do hurt themselves?

sa_rose January 7, 2013 at 12:23 pm

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Nope. That’s a violation of their civil rights. Screw YOUR civil rights!

danybhoy January 6, 2013 at 6:06 pm

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El-Rushbo says it is the idiots who vote for the likes of Obama & other progressives that is a bigger problem then those they elect. I have to agree.

Sidekick January 6, 2013 at 6:28 pm

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Agree. The Republic can survive BHO but it can’t survive an electorate that votes him into office twice.

jcrowley1985 January 6, 2013 at 7:00 pm

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danybhoy January 6, 2013 at 7:58 pm

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Is PrisonPlanet & Infowars so boring that you need to come here & spam the forum with the same sh!t? Post after post, day after day, every effing day?

sa_rose January 7, 2013 at 9:45 am

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Ron Paul would NEVER have won. Herman Cain or even Newt had a better chance!

flashingscotsman January 7, 2013 at 11:11 am

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Had Cain been the Republican candidate, I would have voted Republican.

ooddballz January 7, 2013 at 11:39 am

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And had Ron Paul been the Republican candidate, I would have written in Mickey Mouse…..but he got re-elected anyway so at least MY vote would not have been wasted. Unlike Crowley s, who was essentially voting for Obumma.

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