Despite Tax Increase, California State Revenues in Freefall
California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Despite reassurances from academics and progressive media, the passage of the tax hike known as Proposition 30 may have spurred the state's millionaires to flee, causing this shortfall.







One would not have needed an IQ greater than a pencil eraser to see this coming.