Screw CalPERS.
Quote from SomeYoungGuy:
I've lived in California, and I always wondered where the hell does the money go? Property taxes are low, but high state income tax rate, the highest sales tax in the country (10.75% in some locales), high taxes on gas and cigarettes and booze.
Terrible roads, the worst I've been on in the US, and I have personally driven on the roads in 31 of our states. Overcrowded classrooms with embarrassingly low test scores.
Truly the only thing Cali has going for it is the weather. If you've never lived there, take my word for it; it is really nice. That and high paying tech jobs.
Somebody must be getting rich off the state's tit, but I never figured out who.
Quote from olias:
just found this little stat:
"though it has only about 12% of the total U.S. population, Californiaâs share of the welfare caseload has risen from 22% in 2002 to over 30%."
http://mangans.blogspot.com/2008/05/california-welfare-capital-of-us.html