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California Doomed to Repeat Tax History

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  • Description

    FBN’s Stuart Varney sounds off voters in the Golden State.

  • Duration 1:30
  • Date

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This transcript is automatically generated

What was that line about those who don't know history are condemned to repeat it something like that's in the close -- that.

The point -- if you ignore what happened in the past you will make the same mistakes all over again so.

Here is my take on the California and taxes.

I would like to say I was surprised this morning when -- -- the latest poll.

64%.

Of Californians support and highest sales tax and much higher taxes on top income -- 64%.

Support.

They want to repeat what has failed in the past I guess I shouldn't be surprised if tax the rich is being California's council not for a generation.

So they still have by a whopping great big deficit.

This integrating services and successful people rushing for the exits so -- they gonna do now.

Yes repeat that failed policies.

Governor Brown has done a deal with the unions move -- top tax rate up to 13%.

That would be the highest in the nation.

His own -- count as I've already told him that the new tax will not bring in anything like the money he expects.

California is looking at deficits and decline as far as the on vacancy what -- -- When I -- that 35 years ago it was indeed the Golden State boss there is a launch a message here actually and it is this.

Tax and spend doesn't look it has failed California and -- -- -- the nation get real California get real.

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