Prop 23 and The Green Jobs Myth

If you haven’t read this excellent editorial from T.J. Rodgers in the Wall Street Journal, you should:

I have an indelible memory of the one time I was on Rodeo Drive. There she was, a rotund matron dressed in a pink sequined jumpsuit, exiting a limousine and handing her three toy poodles to the doorman at an upscale shop specializing in $1,000 purses. It’s a perfect metaphor for California’s economy: We ignore the important, focus on the trivial, and spend way too much money in the process.

While our state government frets over issues like the disclosure of trans fat on restaurant menus and the habitat of the red-legged frog, our economy—the habitat of homo sapiens—is a disaster. Jobs and the companies that produce them are being pushed out of the state by excessive taxes and regulations. We have borrowed to the limit and at times have been forced to pay state employees and vendors with vouchers until more cash could be secured.

California, which once plowed through recessions, now has 12.4% unemployment, third worst in the nation. CEOs surveyed nationally by Chief Executive magazine recently rated California the worst state for business, for the fifth consecutive year. My company, Cypress Semiconductor, has recently stepped up its contributions of food and money—and even donated an extra warehouse building—so that San Jose’s Second Harvest Food Bank can feed the swelling number of hungry people in Silicon Valley.

Read the rest here.

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