California’s economic demise a preview of what progressives are planning for the rest of us
LOS ANGELES – It’s been said that one can see what the United States will be like 20 years from now by studying what’s going on in California today.
That’s because the Golden State is considered by many to be the nation’s cultural and political trendsetter.
If that’s the case, then the U.S. is in for some very tough times.
Joel Kotkin, a professor at California’s Chapman University, has studied the Golden State’s current economic conditions and reports that various industries are disinvesting in the state due to excessive taxes and smothering environmental regulations.
The most recent example is “Toyota’s decision to pull its U.S. headquarters out of the Los Angeles region in favor of greater Dallas,” writes Kotkin in a May 2 column.
Toyota’s departure was preceded over the years by numerous fossil-fuel energy companies that shifted operations out of California, due to anti-business and pro-green policies.
Economic conditions are so prohibitive that even the left-wingers in Hollywood are trying to save money by filming in more business-friendly states.
“Since 2010, California has managed to miss out on a considerable industrial boom that has boosted economies from the Rust Belt states to the Great Plains and the Southeast. Los Angeles and Orange counties, the epicenter of the state’s industrial economy, have actually lost jobs. Since 2000, one-third of the state’s industrial employment base – 600,000 jobs – has disappeared, a rate of loss 13 percent worse than the rest of the country.”