Another Triumph For Socialism

Tent City for unemployed springs up in Sacramento. (HT: Capitalism Gone Wild)

Authorities estimate that the tent city is now home to more than 1,200 people.

As America’s most powerful state California had the same gross domestic output as Italy and Spain, but it has been among the hardest hit by the recession and housing crisis.

The article goes on to describe some hard-luck stories by some residents… probably leaving out some unflattering details… but that’s par for the course. What the article also doesn’t touch on is how rampant socialism has created a ruinous business climate in California.

The cost of doing business in the state is 30 percent higher than in other Western states, with regulatory costs the biggest culprit… Regulatory costs in California are 106 percent higher than in other Western states.

Instead of making the business climate better, the Democrat state assembly recently passed massive tax increases. And new environmental regulations will cost gas stations to install tens of thousands of dollars in new equipment in order to reduce pollution by .03%. Many gas stations will shut down as a result. Manufacturers are already fleeing the state to avoid Draconian carbon emissions regulations.

At least retailers of tent and camping gear are doing okay.

Taxes and regulations kill jobs. Who knew?

Taxes and regulations kill jobs. Who knew?

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