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Big taxes + big spending cuts = California budget surplus

GottaGo said:
That right there. ^^^

Several high-tech industry (read: High dollar) friends are coming back home to the East Coast to preserve a little more of what they make.

California is pushing their revenue sources right out the door!
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Exactly. Intel is a great example. They keep their main offices there in California, but gradually over the years they've moved manufacturing to other states that are more business friendly and have the water and workers. It's funny because CA state will count Intel as one of it's business successes even though the manufacturing portion of the business (the big nut) has all but left the state.
 
ocean515 said:
Calfornia is proving that the philosophy of banking on the rich to pay for everything is a fools errand. The only way for it to work is to make sure they stay rich and get richer - two things liberal/progressives completely oppose.
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Good afternoon, Ocean.

It seems that "cognitive dissonance" should be considered here, since simultaneously holding two opposing beliefs seems unusual. Nothing else makes sense to most people.... :lamo
 
polgara said:
Good afternoon, Ocean.

It seems that "cognitive dissonance" should be considered here, since simultaneously holding two opposing beliefs seems unusual. Nothing else makes sense to most people.... :lamo
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:2wave:

Good morning/noon to you Polgara.

It's quite interesting to watch the national narrative that seeks to "stick it" to the "rich" while witnessing the failure of that approach over the last 15 years here at home in California.

As it is, I think your conclusion is spot on.
 
head of joaquin said:
The anti-California meme is de rigueur for the modern Tea partier.

I love how it's so wonderfully counterfactual.

What state has a $2B budget surplus, not to mention is the largest economy in the US?

Come on, you can say it!
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And here we see the Progressive HOJ in his natural habitat, arguing that state projections are more real than reality.
 
Taylor said:
Not according to your article:
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I hope you understand what you are saying (me thinks otherwise?)....

If California projects collections of $95.4 billion and spends $93 billion for a specific fiscal year, that is a budget surplus of $2.4B. The fact that the surplus is big enough to payoff the previous year's deficit is a huge plus.... that would be paying down the debt.


joko104 said:
The article is delusional. You got nothing.


All of the state's budget figures and forecasts for the year are still guesswork. California will have a better idea of exactly how much revenue it will collect this year -- and whether it will still have a surplus -- when it issues its revised forecast in May.
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.... that is why its called a budget. If it were telling us what actually happened, they would be called financial statements.
 
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