taxes (Photo credit: 401(K) 2013)
Come July 1, the always fiscally-responsible state of California will hold the distinction of having the highest per-gallon gas tax rate in the country, at 70.1 cents per gallon (that .1 must surely be critical to sound financial management).
The state legislature switched its gas taxation system in 2010 so it could re-appropriate some of the gas tax money from road maintenance to other areas. It reduced the sales tax from 8.25 percent to 2.25 percent, but roughly doubled the excise tax to 35.3 cents.
Gas tax funds should be used for roads, but politicians love trains.
So once again, they're raiding the wallets of evil drivers to pay a little bit toward their expensive toys. This should have no effect on the flight of businesses and jobs from the state, as everybody knows that California's a great place to live, work, and do business.
