All That Glitters Is Not Gold

California is known as the Golden State. But lately it's become more Fool's Gold than the real thing.

A few days ago the California state legislature voted to begin funding a controversial $68 billion bullet train. Meanwhile, the state is so desperate for cash that it has cut three weeks off the school year, and is actually considering reducing public-employee pensions. It is also seeking approval from voters for a 'temporary' tax increase. (Have you ever seen a temporary tax increase get rolled back? On the other hand, tax cuts like the Bush income tax reduction come with an expiration date. But I digress...)

The sales levy, already the highest in the U.S., would go to 7.5 percent from 7.25 percent. Income tax rates would rise on earnings over $250,000 a year. Those making $1 million or more, now paying 10.3 percent, would be assessed at 13.3 percent.

Ah yes, raise taxes on the evil 1% who either work hard enough or are smart enough -- or both -- to be successful. Sound familiar?

It's also worth noting that California cities such as Stockton and Mammoth Lakes have declared bankruptcy, and several others are close to it.

Yet in the midst of all this looming insolvency CA state officials insist on spending money they don't have on things that nobody wants.

“It’s incredibly tone-deaf to reject something voters want, like pension reform, while approving something they don’t want, like high-speed rail,” said Aaron McLear, a spokesman for the anti-tax campaign.

Need I add that both houses of the CA state legislature are controlled by democrats, and the governor is likewise a dem?

All of which brings to mind the following.

In 1850 California became a state.

The State had no electricity.

The State had no money.

Almost everyone spoke Spanish.

There were gunfights in the streets.

So basically, it was just like California today; except the women had real breasts and the men didn't hold hands.