Exodus: California Tax Revenue Plunges by 22%

Breitbart ^ | 3/13/12 | Chriss W. Street

[Nachum]

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., 'I have found it'. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011. (snip) California politicians seem delusional in their continued delusion that high taxes have not savaged

[Crazy ole coot]

I did invite them. My son got as far as Okla and found a life. The grandkids are mostly Calif born and my daughter is staying with her husband, who is a Pastor and doesn’t intend to leave his church.

So, I’m stuck growing food to can and freeze for myself and wife.

Best of luck to everyone that stays in California.... except boxer and piglosi and etc

[Razzz42]

I happened to catch a portion of talk radio the other day. I think it was Roger Hedgecock, discussing unemployment taxes paid by employers. California has not been paying back the Federal government for exhausted and extended unemployment benefit packages.

Some employer phoned in who had 30 employees and said the IRS(?) sent him a bill for unemployment benefit taxes that the State of California hadn’t been paying back, a certain percentage of the company’s payroll to be taxed to make up the difference using some formula.

No notice, no explanation just a bill to pay. The guy said he would probably have to layoff employees to be able to afford the bill.

http://www.chooseust.org/2011/employers-in-twenty-one-states-to-see-tax-rates-rise/

[dragnet2]

I did invite them. My son got as far as Okla and found a life.

That how I got to CA. I broke down outside Barstow in a 65 Ford Falcon, and eventually moved into a room on Main, over the Pizzeria. Life has been pretty good.

[cynwoody]

Hopefully, the Facebook part of the One Percent will evacuate California before they "realize" their gains.

California needs to be an example!

[Pining_4_TX]

Not only did Atlas shrug, but he packed his bags and skipped town.

[Myrddin]

San Diego is going to feel the military cuts. Lots of unemployed in a town with high unemployment. Likely to restock the Harley shop with repos.

[aquila48]

“Why don’t they just raise taxes....oh wait that didn’t work.”

Oh you haven’t heard? Our governor moonbeam has a slew of tax proposals for the november ballot.

AND the libs in sacramento, (led by SF’s ultralib and unltragay Ammiano) are working night and day to find a way to undo Prop 13, the only thing that has kept the exodus floodgates from being torn off their hinges.

The Founder were geniuses when they instituted a federal form of government with each state doing their thing. Since the fall of the USSR we’ve sorely needed another real-life, socialist specimen. It’ll be great for the rest of the states to have California as the role model of what not to do.

[Myrddin]

My now deceased colleague went to school with Laffer. It was my colleague who convinced Laffer to move to Tennessee. When my colleague died, I flew to VA for his funeral. His wife asked me to sit with the family on the front row. A moment later, a man sat down next to me. He turned and introduced himself....Art Laffer. A really nice guy. Had a pleasant visit the rest of the evening at my colleague's home.

My colleague's family founded Nashborough. After the war, it was renamed with the French suffix...Nashville. I learned a lot that evening after the funeral. My colleague and friend was John Donelson III

[Hiryusan]

$20000..that’s a pretty expensive piece of paper.

Would that be more or less expensive than an online degree in regional water quality control??

(That number is SO off I had to ask that.)

[rbg81]

CA still has Silicon Valley and some of the worlds best universities. And, unlike Detroit, the weather is great. But, yeah, its a state living off its past.

In 50 years, they’ll be a few pristine islands of Elites surrounded by (ever rising) the Third World sea. In 10-15 years, the entire budget will go to welfare & pensions: $0 will go to legitimate Government services (law enforcement, roads, etc). All those things will have to be paid for privately—maybe even education too.

You just knew CA was commiting suicide when they elected Gov Moonbeam—again.

[JmyBryan]

I agree with the thrust of your prediction. However, how can any POTUS bail out one State over others. It’s the same problem they have in Europe - you can’t let everybody get out of the system and you can’t bail everyone out.

[twistedwrench]

LOL

[Enterprise]

LOL!!!!