Posted on 11/18/2021 10:18:39 AM PST by entropy12
California will have so much money next year that state officials will likely have to give some of it back to taxpayers to meet constitutional limits on state spending, according to a new forecast from the state's independent Legislative Analyst's Office. The state's annual “Fiscal Outlook,” released Wednesday, predicts a $31 billion surplus for the 2022 budget year that begins July 1. The analyst's office says that will exceed a constitutional limit on state spending by more than $14 billion. That could require Gov. Gavin Newsom and state lawmakers to either cut taxes, spend more money on schools and infrastructure or — perhaps the most popular choice in an election year — give rebates to taxpayers.
Read more at: https://www.kansas.com/news/article255898796.html#storylink=cpy
(Excerpt) Read more at kansas.com ...
How in the world does CA get a surplus? I thought they spent every penny they had and then some.
Bwahaha...is this from the Babylon Bee?
yeah... that’s called INFLATION!!
when everything COSTS MORE, the government which taxes everything at a set percentage takes in more!
But liberals are to STUPID to understand this!!!
No, it’s all federal handouts anyway, so they will just squander it on their bullet train to nowhere.
That’s what happens when you tax the citizens penniless.
If they got a surplus, they did it on the backs of federal taxpayers. No way in Hell they got an honest surplus. They will insist it is a surplus on paper, but I simply don’t buy it.
Not a snowball’s chance in Hell.
Yep, it’s all federal bailout printed dollars.
Won’t be long before we hear that Illinois and New York suddenly have surpluses too.
If you keep raising taxes, faster than can be spent on bridges to no where, eventually there can be a surplus.
LOL yes, right after I win a PGA tournament.
That is grossly false. All pensions due are not included in that number stated. This is liberal math here...exclude your long term liabilities and encumbrances.
They waste most of their surpluses. With the revenue they get, highways should be paved in gold.
“How in the world does CA get a surplus? “
There’s so much money here it’s nearly unbelievable.
Simply wallerin’ in the stuff.
“Simply wallerin’ in the stuff.”
Can you spare any? I’m a little short. :-)
I don’t understand.
When we were at full employment just two years ago we were running a deficit.
Now, with an eroded GDP because of Covid lockdown and exceptionally high unemployment, as well so many small businesses going out of business we are actually running a surplus?
How?
Doesn’t make any sense to me.
Give money back?
Haaa!!!!
Only to those who paid nothing in.. illegals, homeless, internet robber barons like Zucky and TweetHead.
Maybe buy some common sense then.
“How in the world does CA get a surplus? I thought they spent every penny they had and then some.”
Train to nowhere. Money was probably never returned and they applied it to their budget instead.
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