Also in this playlist...
This transcript is automatically generated
Let's get back to one of -- big stores -- Wednesday that would be the California accidents.
Californians fleeing the state every year over the past ten years joining the company from Sacramento as Republican strategist marks -- -- mark that is a huge exodus.
What kind of bit but it that the people moving Alps.
-- -- -- 5000 a year have been replaced by all the people moving eight what's the difference -- -- those Alex and the ones moving it.
I think they did those folks haven't found the exit ramp yet frankly -- and and what we're seeing right now is we were seeing party in power here in Sacramento that.
Continues to to figure out especially from the business climate standpoint.
We'd like to go from being the most business unfriendly state in the nation to to being really openly antagonistic to it to any kind of business whatsoever and you seeing this with a legislation that sitting on the governor's desk right now just passed -- earlier this last month.
Called SB 1234.
Which sets up.
Sector investment plan run by the government and -- just three words describe that I would say -- doodle.
So a great if I'm unemployed in California.
I don't awful my -- any kind of pension plan for a one carry out an offer to them.
Along comes this agent says yes you've got to contribute to a pension plan for your employees.
And you -- have the state of California manage it.
That's what we're looking at his -- is that's correct.
Yes and and and even goes further than that because you have three options if you're an employer.
UK and would join that state mandated system that's now being set up.
You can offer your employees with -- you've got five or 5000 you've got to offer them.
Your own company retirement investment plan or you'll end up paying -- penalty that could be as high as 750.
Dollars per employee per cycle.
What makes it's even worse is that the employees are automatically enrolled.
And they can opt out but the problem is they have to re opt out every two years -- open enrollment comes it.
Plus they get a minimum of 3% of they -- their income.
Withdrawn every -- paycheck and -- what we're discussing this on the set before you came on with us.
I'm not all of -- could really understand why California keeps doing this I mean -- literally.
Driving businesses driving jobs driving people out of the state and we don't know why they're doing that can you explain it.
What you I think that -- that because again the party this and that been been in power here and for -- out nearly four decades if you look at the actual employment history of these books.
But with the Republicans they tend to be small business owners entrepreneur or its farmers ranchers people who make things -- it.
For the folks at the Democratic Party they tend to be from the side of of the takers people who come from -- social workers or or or from education backgrounds -- trial lawyers union representatives and these are folks that have never had to make a payroll.
They've never had to try to figure out -- door of the rules or regulations in the red tape.
That is blocking California business from really thriving again and others that mentality frankly just doesn't allow that that -- the nerve endings to to have electricity make the jump to make a sensible salute what is the question -- what's the end game here because you can't go on like this you really can animate this and massive budget deficit in California.
You haven't -- opium -- wrath of bridging that deficit.
And you facing tax increases in November our interactions and what is the end game -- Well I'll tell you -- that I and I don't know if anybody else is gone this far to say everybody talks about California being like Greece and some other places that it.
Getting ready to go off the financial cliff.
I think unfortunately we may have already gone off over the edge.
And the problem is that nobody sees it and -- state government they're busy arguing over what kind of parachute everybody should be where.
And and that again is the problem with the mentality.
With the folks that are running things in California a -- we always appreciate you being with -- -- -- again -- thank -- -- -- -- I had better news for even -- effective here's what tell it how it is -- like best yet.
You you went to school.
Filter by section