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ARNOLD LOSES HIS MIND
January 10, 2007
California Governor Schwarzenegger has has announced the latest plan to make Nevada look wonderful. Russ Fox has the scoop:
The plan would mandate that all Californians have health insurance, and the state would mandate what would and wouldn't be covered. The plan would be funded by a 4% payroll tax, a 4% tax on hospital revenues, and a 2% tax on physician's income.
A 4% payroll tax on top of an income tax that tops out at 10.3%. When you can hire people anywhere nowadays and communicate at lightning speed over the internet, why would any multi-state business expand in California?
UPDATE: More here.
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