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Thread: Jerry Brown: California's deficit is gone

  1. #231
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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by sangha View Post
    The article doesn't suggest that because it would be wrong.

    And calculating revenue from past income isn't much of a porjection. It's a "calculation"
    Actually it does:

    While the tax rate of up to 13.3 percent on top earners is retroactive to January 1, the revenues won't really start coming in until sometime early in 2013 because of delayed withholding.
    And since the article begins:

    In November, California hikes taxes on its top earners to the highest rate in the country. A month later, income-tax revenues explode. And the governor announces that the state's famous multi-billion-dollar deficit is pretty much gone.
    It would appear the assertion is the new rates are retroactive back into 2012 as the article was written on 01/14/13 and 'retroactive' for two weeks seems inconsequential. But that does seem ambiguous. As to the ‘calculating revenue from past income’ claim, true it is not a projection but a projection based on an erroneous premise may/may not come to fruition. We’ll see.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    Re: Jerry Brown: California's deficit is gone

    Sangha, I've provided citations for data that support the fact that most of Clinton's jobs were in bars, tech, housing and government. This data covered most of Clinton's presidency. Clinton's presidency, economically, is defined by the greatest bubble to ever rupture in cosmic history (and the feel-good BS that went along with such). You've provided nothing. Divorcing the artificial market and increased government employment from a claim of 'jobs created' is crap. Good day.
    Last edited by ecofarm; 01-16-13 at 04:53 PM.

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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by StringBean View Post
    Sangha, could you expound on your explanation of the 90s economic boom?

    I've seen reasonable responses in this thread that:

    A) the president doesn't create jobs and in fact has little to do with broader economic conditions (an understood truism among economists)

    B) The tech bubble (responsible for the record lows in unemployment) didn't magically appear in 1997, but rather built up throughout the 90s as firms gained understanding of the productivity gains possible due to emerging IT.

    I just want to know what you are arguing, because you seem to disagree with these premises.

    EDIT: And I completely disagree with ecofarm that government created the IT revolution. Bill Clinton didn't invent the internet. Perhaps gov policy contributed to the housing bubble, but that's another discussion.
    A) No,, neither the govt nor the president "create jobs", but their policies can either enhance or detract from the economy's ability to create jobs

    B) I've seen no evidence (ex employment #'s, or capital investment for startups) for Silicon Valley that suggest the existence of this "momentum" you speak of

    C) I didnt say that the govt "created" the IT revolution, but they certainly provided much needed "venture" a apital

    D) Take 10 economists and you'll get 11 different opinions as to why the economy did so well in the 90's. However, most of then will agree that low interest rates, a direct result of govt policy, was a crucial factor.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by ecofarm View Post
    Sangha, I've provided citations for data that supports the fact that most of Clinton's jobs were in bars, tech, housing and government. This data covered most of Clinton's presidency. Clinton's presidency, economically, is defined by the greatest bubble to ever rupture in cosmic history (and the feel-good BS that went along with such). Divorcing the artificial market and increased government employment from a claim of 'jobs created' is crap. Good day.
    you've provided irrelevant data that neither matches the time frame your claim refers to, or support your claim (even if the time frames did match)

    And if you think the dot com bubble or the real estate bubbles of the 90's were bigger than the bush* real estate bubble, then it seems that rationality has abandoned your posts.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Jerry Brown: California's deficit is gone

    As I expected, you provide no citation and instead start talking about Bush.

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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by ecofarm View Post
    As I expected, you provide no citation and instead start talking about Bush.
    I've made no claims that require citations.

    You have
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by Ray410 View Post
    Forbes Magazine, America's 20 most
    MISERABLE CITIES: America's Most Miserable Cities - Forbes.com

    Stockton, CA
    Merced, CA
    Modesto, CA
    Sacramento, CA (Jerry Brown's Home)
    Vallejo, CA
    Fresno, CA
    Salinas, CA
    Bakersfield, CA

    How 'bout them Liberals, huh?
    Lol....yep.

    But California's suddenly rolling in the money and liberal policies are the reason.

    I guess we in Texas can count on more Californians to head our way as they try to out run that liberal plague state.

    Hell, send the goofy liberals so they can see how a States supposed to be run.

    Just so long as they clean their slug trail up on the way out.

  8. #238
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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by Ray410 View Post
    Forbes Magazine, America's 20 most MISERABLE CITIES: America's Most Miserable Cities - Forbes.com

    Stockton, CA
    Merced, CA
    Modesto, CA
    Sacramento, CA (Jerry Brown's Home)
    Vallejo, CA
    Fresno, CA
    Salinas, CA
    Bakersfield, CA

    How 'bout them Liberals, huh?
    Merced = almost even split right/left
    Bakersfield= very rightwing
    Modesto = republican
    Fresno = repub stronghold
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  9. #239
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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by sangha View Post
    I've made no claims that require citations.

    You have
    Yes you have. You claimed that most of the jobs came before the official bubble start at '97. You've claimed that jobs created before that have nothing to do with the bubble. You've claimed that jobs created after '97 are an insignificant portion of those created.

    I provided a legit citation proving that most of the jobs created between 1989 and 1999 were in restaurants/bars, tech, housing and government.

    You've provided nothing to support your version of what jobs were created, when nor how those jobs are separate from the bubble. You invented a logically implausible scenario that even a cursory examination of facts dispels.

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    Re: Jerry Brown: California's deficit is gone

    Quote Originally Posted by sangha View Post
    Merced = almost even split right/left

    Bakersfield= very rightwing
    Modesto = republican
    Fresno = repub stronghold
    So those cities dont have to pay state taxes.? Or are not subject to Californias regulations ?

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