On January 10th California Governor Jerry Brown proposed a whopping $179.5 billion (yes, that’s a “B”) budget. State revenues are projected to fall short by $1.6 billion.

The culprit? All those greedy millionaires and billionaires who refuse to pay their “fair share.”

According to the most recent data (2014) the top 10% of the state’s earners – those who made an average of $404,184 – paid a whopping 79% of all personal income tax revenue. That’s up from 60% just two decades ago.

Yes, almost $0.80 of every $1 of personal income taxes comes from 10% of the state’s earners. Wow!

California’s highest personal income tax bracket is 10.3% due to Proposition 30 – a measure approved in 2012 that “temporarily” raised taxes on people earning more than $250,000. The rate was set to begin phasing out in 2018 but on Nov 8, 2016, voters approved Proposition 55 which extends higher taxes through 2030.

Temporary? Ha!

And just how many supporters of Proposition 55 are part of that group – that 10% of incomes paying 79% of taxes?

Fair share? Yeah, right.

How is it fair when such a small group foots the bill? How is it fair when voters get to tell other people what to do with their money?

Margaret Thatcher’s famous words have never been truer:

“The problem with socialism is that you eventually run out of other people’s money.”

If you’re a “ten-percenter” in California it just might be a good idea to flee the state in search of finding out, “Who is John Galt?”