Hey, California, Ready To Spend $400 Billion For Your Single-Payer Disaster?
http://www.investors.com/politics/editorials/hey-california-ready-to-spend-400-billion-for-a-single-payer-disaster/
CaliCare: California's so-called progressive Democrats, fresh off their classy "flipping off" of Donald Trump at their state convention, now want to flip off the entire state by imposing a reckless, economy-destroying single-payer health care system on the state's citizens. If voters don't stop this madness they'll get what they deserve.
A study by the Senate Appropriations Committee of the state legislature found that a proposed single-payer system would cost $400 billion a year - more than twice the state's current bloated budget of $182 billion. To say that it would be the fiscal and economic ruin of California is an understatement.
As the Sacramento Bee notes, half the tab would come in the form of a new tax of about 15% on all earned income. That's in addition to the 13%-plus state income tax already levied on Californians. That would still leave as much as $100 billion in new spending that would have to be paid for somehow. No doubt, they'll go after businesses for that.
The state has already lost millions of residents and thousands of businesses because of its excessive taxation and onerous regulations. The ruinous taxation from single-payer health care would lead to a mass exodus of companies and what remains of the once-thriving middle class. Californians need to wake up to the fact that they've put the most far-left state government in American history into power, and will soon pay dearly for it. ...
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