California State Budget Crisis Not Caused by the Recession
by Peter Phillips
The budget crisis in California has been artificially created by cutting taxes on the wealthiest people and corporations. The current “crisis” is a shock and awe process designed to undermine wages and unions in the state and force labor concessions to protect corporate profits.
According to the California Budget Project, tax cuts enacted in California since 1993 cost the state $11.3 billion dollars annually. Had the state continued taxing corporations and the wealthy at rates equal to those fifteen years ago we would not have a budget crisis today.
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