Written by Nicholas Vetrisek
As it turns out, it’s possible to run out of money. This may come as a shock to California Democrats who seemed to believe that “it can’t happen here.” As multiple cities approach dangerous levels of economic uncertainty, and in the wake of cities like San Bernadino already having declared bankruptcy, it’s becoming clear that the tax and spend gravy train will not last much longer.
While Democrats have somewhat gotten away with the above-mentioned strategy in decades past, local governments have been devastated by the mass exodus of professionals and entrepreneurs from the state each year. In addition to this, the high earners that the state used to squeeze dry in order to pay for programs are being replaced at an equal level by large amounts of immigrants who are likely to receive more in benefits from the government than they contribute in taxes.
Furthermore, it’s not just cities that are having financial problems, as school districts are in trouble as well. As a result of voting themselves endless pay raises in the face of declining enrollment, unfunded pension liabilities, rampant corruption, and financial mismanagement. They are attempting now to get parcel taxes, which are taxes on corporations and the “one percent.”
Democratic lawmakers are finally feeling the effects of their careless spending. They obviously won’t change, but maybe voters will be able to see that their policies simply do not work.
When more cities in the People’s Republic of California fall, we must remember why. Democratic spending policies can not and will not ever work.
