  NUGENT: California nightmare  Bankrupt state serves as a
warning to the rest of America  Story Topics  Will the last
American left in California please turn out the lights? And
don't let the door slam you in the behind. California isn't
going broke. It's already broke and is $16 billion in the hole.
With businesses leaving the state in record numbers because of
punitive taxes and bizarre overregulation, the only way forward
is to either raise taxes or severely cut benefits. Raising taxes
is the mantra of liberals, and California is awash with liberal
politicians.  In addition to business-killing taxes and
regulations, California has the third-highest state income tax
in the nation, the nation's highest sales tax and the highest
gas taxes in America.  Get this: Roughly half of California's
income taxes are paid by just 1 percent of California's
residents. It's no wonder the most productive people are leaving
the state each year as more bloodsuckers move in.  If that isn't
bad enough, California has one of th