A street scene in crowded, affluent San Francisco. (Photo: ChameleonsEye, via Shutterstock)
“These are the progressive policies that have made California the sixth largest economy on planet Earth,” De León said. We won’t wade into the debate over whether progressive or other policies have positioned the state’s economy on such a high perch. But we will examine the provocative “sixth largest economy on planet Earth” claim by itself.
Gov. Schwarzenegger unveils budget, 2009
It’s a litany of good news in Gov. Jerry Brown’s election-year budget. Safety net programs are being shored up. Debt is being repaid. Revenues are rising.
Except for corporate taxes.
In fact, business tax receipts are falling at the same time hefty profits are being posted by major companies across the country. (AP Photo/Rich Pedroncelli)