California: Tax the rich!

California, like Greece is perpetually in fiscal trouble. Overoptimistic revenue forecasts coupled with spending $2 billion more than expected has California in a deep hole. Governor Jerry Brown has the same non-solution as ever, hike taxes. Brown wants a "temporary" (as in seven years) tax hike. Given we all know there are no such things as temporary tax hikes in California (seven years is permanent enough in the first place), and also given the California school budget needs an axe, the I say let him.

The tiff between the country's two largest economies has escalated, with California Governor Jerry Brown brusquely dismissing Texas Governor Rick Perry's latest ad campaign to swipe Golden State business.

Reuters - With California Governor Jerry Brown making little progress in his efforts to solve the state's intractable budget problems, a number of private groups are maneuvering to put new tax measures to the voters next November.

Reuters - California Governor Jerry Brown sai