Re-Elect Brown...Re-Elect Brown...
Posted on 08/19/2014 2:16:24 PM PDT by SeekAndFind
Stop the music. All the merriment over the California recovery may have been a bit premature. Tax revenues are way down this year in the Golden State, and this could throw the books back into the red.
Not so Golden State
Here is the sobering analysis released last week from the Rockefeller Institute of Government, which monitors state spending and revenues:
"After four years of uninterrupted growth, states' tax collections saw a decline in the first quarter of 2014. Preliminary figures for the second quarter of 2014 indicate further declines in personal income-tax collections and possibly in overall state taxes."
Then came the show stopper:
"Most of the decline is attributable to a single state — California — where personal income-tax collections declined by $2 billion, or 11.1%. If we exclude California, personal income tax collections show a growth of 2.0% in personal income tax collections and a growth of 0.6% in overall state tax collections."
This time last year, liberals around the country were trumpeting the big fiscal comeback of the Golden State in the wake of Jerry Brown's giant tax increase — Proposition 30.
That initiative was passed by voters on Nov. 6, 2012, and it raised the personal income-tax rate on taxpayers making over $250,000 for singles and $500,000 for married couples to as high as 13% — which is the heaviest tax penalty on working and investing in the nation outside of New York City.
What was especially devious is that the tax hit was made retroactive to January 2012. Sacramento was so desperate for money that nobody seemed to mind this after-the fact taxation is really a form of confiscation.
(Excerpt) Read more at news.investors.com ...
I left the “Golden State” early this year for a state that doesn’t view me so much as a source of income/fees/fines, at the same time abusing me for not being Mexican and for being “wealthy.” If it were possible to moon an entire state, I would have done it when I crossed the border into Arizona.
They just need another facebook ipo.
They’ll just keep raising taxes and also find more things to tax. You water we tax, you don’t water we tax. Oh and the sunshine tax and you name it ...
Well he’s already said his son would look like Travon.
So all he’s got left is...
“If I had a daghter she would look like Michael Brown.”
I can see why he’s staying low.
Is he thinking of having a trans-gendered child too?
I mean, just to be fair and equal to all right?
Typical of these schemes, they got a one time boost, but the long run will be less net revenue per capita, with a higher tax rate and a smaller demographic of the population paying the lions share of the taxes, until some of them leave, revenue is even further down, taxes are raised again and the cycle starts all over.
Gotta work on my Spanish, though. :O
I saw a post on another forum where Kalifornia is looking to raise the gasoline tax once again. They already have one of the highest gas taxes in the nation.
Ca. $14 bill a year in services to people in the country illegally.
welfare recipients and illegal immigrants as a rule do not pay taxes. Therefore it is a no brainer that California is in deep financial dodo. On another note: Jerry Brown considering running for president; on his loser record?
A 50,000,000,000 high speed train to Bakersfield will fix everything. Shut off Central Valley water to save a fish and import millions of illegals to the welfare rolls and the problems just fix themselves.
Bump
I'm sorry, the latest estimates put it closer to 150,000,000,000, with an additional 50,000,000,000 to dig a tunnel under the mountains to link Grand Central Station in Los Angeles with the high speed rail. What's that? $525 for every soul living in California? Ahh, gotta love government overspending.
Union Station in Los Angeles, There is a Grand Central Farmers' Market in downtown L.A., but no Grand Central Station. That's in New York.
Be sure to check El Dorado County
where gold discovered
Hangtown (Placeville) and South Lake Tahoe
Awesome place to live
real estate prices not bad
you wont need Spanish
Very conservative area
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