Wednesday, October 11, 2006
BY C.B. FORGOTSTON
The headline "No quick fixes on insurance rates, governor warns" in today's Daily Monopoly jumped out at me. Governor Blanco said: "These are tough issues and what I have learned today is we are going to have to put up with high prices for awhile,...."
TRANSLATION: I have no solution. You mullets are stuck with high insurance rates for the foreseeable future so suck it up.
One of the costs of insurance in LA is taxes. Taxes on insurance companies are passed on directly to the insured via higher premiums.
A sure fire way to reduce insurance premiums is for the state to simply reduce the taxes it imposes on insurance companies. Another solution is for the state to reduce the taxes it imposes on individuals and businesses so that they can better afford to pay the high premiums.
Why is it that all financial sacrifices in LA must be made by the taxpayers and not government?
LA's population remains smaller, but government continues to grow exponentially. State spending in the last 10 years has grown from $10 BILLION to $27BILLION, annually. It's time that government sucked it for a while.