California Gov. Newsom calls for more taxes despite surplus
Public Policy Institute of California’s Mark Baldassare on California moving its Primary day to Super Tuesday, California Gov. Gavin Newsom’s new budget calling for more taxes and the state of the California economy.
California Gov. Gavin Newsom is pushing new taxes despite the state's $21 billion surplus — and Californians want to know why, according to the CEO of the Public Policy Institute of California, Mark Baldassare.
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“In our latest poll we found that almost half of Californians said that they felt they're paying too much in taxes now and that's consistent with what we know from looking across the states in terms of California being one of the… states that has the highest taxes,” he told FOX Business’ Stuart Varney on Monday.
When Varney asked whether it’s accurate to say “middle-class Californians are moving out in significant numbers,” Baldassare responded: “It's true.”
”There are more people moving out than moving in,” he said.
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Baldassare added that California also has the lowest population growth rate “that we've seen in the modern history of California” because of the cost of housing and living.
“Californians are really very stretched economically — many who are in the middle class,” he said. “Of course there are many who are doing very well in California but many who aren't doing well– we have the highest poverty rate in the nation as well as tremendous wealth that's accumulated here in this state.”
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