Posted on 02/17/2023 9:52:47 AM PST by george76
California’s fiscal wildfire is here. The flames are licking the highest levels of the state capitol in Sacramento. The flames surround the Democrat super majority-run legislature.
Democrats’ profligate spending, greed, and lack of imagination on how to run America’s most populous state have been disastrous. An investment research group says California’s “tax policy is killing the Golden Goose in the Golden State.” And that’s not the only problem.
Governor Gavin Newsom sent billions of Joe Biden’s specially printed, inflation-causing Covid money to voters for “inflation relief” before his latest election. He teed up “free” kindergarten for four-year-olds, and gave out “free” healthcare to illegal aliens. His reckless spending was the fiscal equivalent of putting on a pork chop suit and heading out to the closest dog park. Now, of course, he’ll be blaming this fiscal cliff on someone — anyone — else.
Newsom helped destroy contracting jobs and continued to waste money on the Train to Nowhere.
....
Money is fungible, and many billionaires and millionaires have “moved” their wealth to other states by spending a few more days of the month in another state.
...
The bad news for California starts out with “California tax revenues, a bellwether for the country, declined 42% year-over-year in January, led by a 50% decline in income tax revenues.”
And no, it’s not because of Covid. No, it’s not due to the market alone, according to the financial research company. Economists predicted a decrease in tax revenues, but nothing this dire.
(Excerpt) Read more at pjmedia.com ...
How will reparations be paid????
Actually you are going to start seeing Corporate America advocate it. Why? Because they are the ones who will benefit, since they are pretty much going to get all that money in the end.
Gavin is so pretty, let’s vote for him as President. CNN told us to.
Federal bailout. This is a real national emergency, unlike that ignorable disaster in Ohio.
California must be doing OK if they are discussing reparations. whahahaha
I have always thought the democrat plan for California was to turn it into a dump with plummeting real estate prices and then pick over the wreckage at fire sale prices and re-emerge as the sovereign socialist nation of California (a wholly owned subsidiary of the People’s Republic of China).
> Federal bailout <
Which will be an interesting test for the House GOP. We already know that the Republicans in the Senate won’t put up much of a fight.
Let’s hope it doesn’t go like this:
Biden: We need to bail out California.
House GOP: No way!
Biden: Feel free to include pork for your home districts.
House GOP: Deal. Just let us fuss a bit in front of the cameras first.
If I am correct and the DNC has chosen Gavin Newsom as the next ‘President’ of the dis-United States, I think Victoria Taft might be in a “Heap of Trouble”.
I bought a new guitar with that money.
Little Indian lingo there.
I was able to go to the movies.....by myself!
How could this happen? only 50% of the State collects some sort of Welfare
I don’t underestimate the ability of the media and big tech to create a narrative, but I cannot see Gavin Newsome gaining traction in a national race.
There are many “blue states” that don’t like California. Most Americans view California’s government negatively. What is Gavin’s record of accomplishment? He is doing the same thing to the entire state that he did to San Francisco.
It does not sell well.
He does not tick any “woke” boxes either and the hard left is obsessed with this. While I don’t underestimate the power of the left on our nation, I just can’t see people desiring the California model on the entire nation.
Better raise taxes and fees. The people have to know they will pay.
>>And do you know what that means? Fewer congressional representatives and fewer tax dollars
Sadly untrue, they’ll count all the illegals and then “apply statistical corrections” to estimate uncounted illegals and, just like that, California will gain EVs in the next census.
I also saw that Cali lost a NET of 500,000 residents over the past two years!
Exactly. Newsom’s gorgeous head of hair ensures his election, just as Trump’s wife’s shoes ensured his defeat.
In 1992, the day a bill to put Social Security on a fiscally sound plan was defeated, I told my wife: “When the takers outnumber the givers, the system will implode — and it will begin in California.”
I had no idea at that time that it would take as long as it has.
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