California Budget Surplus ‘Explodes’ to $68 Billion, Enough for Two Ukraine Wars

Breitbart ^ | 04/29/2022 | Joel B Pollack

[ChicagoConservative27]

California officials report that the state’s expected budget surplus has risen dramatically, and could reach $68 billion — more than twice the amount President Joe Biden requested from Congress on Thursday to fund weapons shipments to Ukraine.

The Golden State is one of several that is experiencing a surplus after fears of shortfalls in the early days of the coronavirus pandemic. Massive transfers from the federal government, as well as rising tax revenues, have contributed to the excess cash.

[ChicagoConservative27]

Federal funny money surplus. All BS

[BitWielder1]

Could it mean that their taxes are way too high?

[Jolla]

I bet it gets spent, or rather will get spent funding 10% of a new program that will be funded in perpetuity

[Vermont Lt]

And yet they raise the gas tax…go figure.

[Bishop_Malachi]

Could it mean that their taxes are way too high?

______________________________________________________

They are high, but it sure seems like a lot of people are hanging around California to pay them despite all the claims of a mass exodus.

Unfortunately the state is so big that it dominates much of the western seaboard of trade. That gives the state government a lot of leverage to charge a premium for living there.

[BitWielder1]

Yea, they will spend it on new programs, that will then need funding in perpetuity.

[dhs12345]

My son is graduating from college soon and we are moving him to California. It is a good place to sow his oats and he will be an a better area than most. He is young, doesn’t have a family.

We are hoping that he will not be harmed by the insanity of California. And yes it is insane there.

[KeyLargo]

“Massive transfers from the federal government, as well as rising tax revenues, have contributed to the excess cash. “

[skeeter]

Woo hoo. Retired CA state employees: last one to Tuscany brings the Compari and Sodas.

Or is it the Costa del Sol this year?

[SunkenCiv]

Massive transfers from the federal government, as well as rising tax revenues, have contributed to the excess cash.

[zipper]

California is making money off people fleeing the state. Because under Proposition 13 property taxes are limited to 2 percent per year increases, when someone moves out the buyer pays MUCH higher taxes on the same property when they take possession.

So the state of California has enormous stake in driving people to sell their homes — and most of them are fleeing the high taxes for other states.

[zipper]

“California Proposition 13 ongoing tax relief limits on “assessed value growth” of real property actually maintains ongoing reductions in real estate taxes for homeowners in California. This is basically due to the fact that the market value of most real property in California increases at a faster rate than 2% per year. Therefore, under Proposition 13, the tax rate imposed on most real estate in California winds up being lower than the true market value.”

https://propertytaxnews.org/2020/01/10/proposition-13-creates-ongoing-tax-relief-for-homeowners-in-california-but-is-this-for-the-middle-class-or-the-wealthy/

[G Larry]

Yet they will impose an additional 5% gas tax in July.....

[skeeter]

Yes, a home sale now means a ton more money for the counties. But even so they found ways around Prop 13 years ago called “supplemental assessments”.

[nascarnation]

If the goal is to get poor people off the roads, so be it.

[marron]

Despite people leaving, property prices are still high and rising.

[libh8er]

“Taxations aren’t about what you need”

https://youtu.be/Ke9ec_Ua3x0

[PGR88]

Enough for Two Ukraine Wars

or enough for one war on common sense.

[ProtectOurFreedom]

Yeah…Fedzilla prints trillions of dollars, hands a lot to CA, and it’s called a “surplus.” What a crock of shee-it. We are paying thousands and thousands more every year for necessities and arseholes like Newsom get to brag about a fake “surplus” and piss it away on illegals, trains, and other liberal wet dreams

[ThunderSleeps]

Massive transfers from the federal government, as well as rising tax revenues, have contributed to the excess cash.

Want to guess which one of these is really responsible for the "surplus?"

The leftists in DC have made sure they pushed enough of our money at CA to make it look like CA is thriving. Watch for the claims "See, CA is doing it right, everyone should be doing what CA is doing, they're leading the nation, setting an example..." BS

So, after propping up their little disinformation campaign what will CA do with this federal windfall? Maybe do something to alleviate their water problems? Maybe do some other infrastructure improvements? Ha! They'll set up a "nature preserve" somewhere out in the desert that is solar powered, surrounded by grass lawns sucking thousands of gallons of water, and features exhibits showing how transgenderism is a thing with some endangered species of turtle. No ICE powered vehicles will be allowed, a light rail system will be set up to get people there in cars decorated by celebrated undocumented immigrant artists...