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Thread: Big taxes + big spending cuts = California budget surplus

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    Big taxes + big spending cuts = California budget surplus

    California has a $2.4B surplus. I guess conservatives are going to have to move on to a new discredited talking point.

    Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013

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    Re: Big taxes + big spending cuts = California budget surplus

    That's the beautiful thing about budgets...if I budget in a 10% revenue increase and 2% in cuts I've got a pretty rosy looking future. Unfortunately, if my revenue increase isn't 10% that may cause a problem.

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by head of joaquin View Post
    California has a $2.4B surplus. I guess conservatives are going to have to move on to a new discredited talking point.

    Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013
    Just remember Figures lie and Liars figure!!!

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by Lutherf View Post
    That's the beautiful thing about budgets...if I budget in a 10% revenue increase and 2% in cuts I've got a pretty rosy looking future. Unfortunately, if my revenue increase isn't 10% that may cause a problem.
    Fortunately for California, it's an economic powerhouse where even limited economic growth produces huge revenues.

    Unlike, say, Alabama, and other desperate red states mired in austerity and conserative delusions.

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by penn1954 View Post
    Just remember Figures lie and Liars figure!!!
    Well, conservatives lie. How's that California is going bankrupt meme working for ya!

    BWHAAAAAAAAAAAAAAAA!

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by head of joaquin View Post
    California has a $2.4B surplus. I guess conservatives are going to have to move on to a new discredited talking point.

    Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013


    That's why so many sheep live in California. They just chew away on the slop that's feed them.

    What taxpayers should know about Gov. Brown's budget: Opinion - Press-Telegram


    If one were to believe Gov. Jerry Brown's representations about how "austere" his proposed budget is, a taxpayer would assume that government spending is much lower than during California's boom times before the recession. That assumption would be wrong.

    First, the 2013-14 proposed budget would spend more than any other budget in California history. This is true even as it relates to the general fund portion of the budget which doesn't include special funds or federal revenues. In fact, the general fund budget at $97.7 billion is actually $104 billion if previous realignment dollars are included. (The "realignment funds" are simply general fund dollars sent to local governments for the purpose of paying for programs - like corrections - that were previously the responsibility of the state.) The general fund budget is once again above 2007-2008 levels - the highest ever in state history.

    Second, the higher spending is not due to additional revenue coming in because of economic growth. To the contrary, the extra dollars are reaching state coffers due solely to the $50 billion tax increase approved by the voters in November. Succumbing to the threats of closed schools and tuition hikes, voters approved Proposition 30 by a wide margin.

    But Prop. 30's passage is coming at a huge cost now that California has the highest income tax rates and highest sales tax in America. Specifically, that damage is inflicted on our potential for economic growth. Indeed, it now appears that the exodus already underway by skilled workers, higher income earners and educated students out of California is accelerating.

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by ocean515 View Post


    That's why so many sheep live in California. They just chew away on the slop that's feed them.

    What taxpayers should know about Gov. Brown's budget: Opinion - Press-Telegram


    If one were to believe Gov. Jerry Brown's representations about how "austere" his proposed budget is, a taxpayer would assume that government spending is much lower than during California's boom times before the recession. That assumption would be wrong.

    First, the 2013-14 proposed budget would spend more than any other budget in California history. This is true even as it relates to the general fund portion of the budget which doesn't include special funds or federal revenues. In fact, the general fund budget at $97.7 billion is actually $104 billion if previous realignment dollars are included. (The "realignment funds" are simply general fund dollars sent to local governments for the purpose of paying for programs - like corrections - that were previously the responsibility of the state.) The general fund budget is once again above 2007-2008 levels - the highest ever in state history.

    Second, the higher spending is not due to additional revenue coming in because of economic growth. To the contrary, the extra dollars are reaching state coffers due solely to the $50 billion tax increase approved by the voters in November. Succumbing to the threats of closed schools and tuition hikes, voters approved Proposition 30 by a wide margin.

    But Prop. 30's passage is coming at a huge cost now that California has the highest income tax rates and highest sales tax in America. Specifically, that damage is inflicted on our potential for economic growth. Indeed, it now appears that the exodus already underway by skilled workers, higher income earners and educated students out of California is accelerating.
    Thank you!

    As I mentioned to H of J Figures lie and liars figure!!

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by ocean515 View Post


    That's why so many sheep live in California. They just chew away on the slop that's feed them.

    What taxpayers should know about Gov. Brown's budget: Opinion - Press-Telegram


    If one were to believe Gov. Jerry Brown's representations about how "austere" his proposed budget is, a taxpayer would assume that government spending is much lower than during California's boom times before the recession. That assumption would be wrong.

    First, the 2013-14 proposed budget would spend more than any other budget in California history. This is true even as it relates to the general fund portion of the budget which doesn't include special funds or federal revenues. In fact, the general fund budget at $97.7 billion is actually $104 billion if previous realignment dollars are included. (The "realignment funds" are simply general fund dollars sent to local governments for the purpose of paying for programs - like corrections - that were previously the responsibility of the state.) The general fund budget is once again above 2007-2008 levels - the highest ever in state history.

    Second, the higher spending is not due to additional revenue coming in because of economic growth. To the contrary, the extra dollars are reaching state coffers due solely to the $50 billion tax increase approved by the voters in November. Succumbing to the threats of closed schools and tuition hikes, voters approved Proposition 30 by a wide margin.

    But Prop. 30's passage is coming at a huge cost now that California has the highest income tax rates and highest sales tax in America. Specifically, that damage is inflicted on our potential for economic growth. Indeed, it now appears that the exodus already underway by skilled workers, higher income earners and educated students out of California is accelerating.
    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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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by head of joaquin View Post
    California has a $2.4B surplus.
    Not according to your article:

    California expects to take in $2.4 billion more in revenue than it will spend this fiscal year, which ends June 30. After paying off a shortfall from last year and setting aside funds for upcoming obligations, it's on track to end the year with a $36 million surplus.

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    Re: Big taxes + big spending cuts = California budget surplus

    Quote Originally Posted by head of joaquin View Post
    California has a $2.4B surplus. I guess conservatives are going to have to move on to a new discredited talking point.

    Big taxes and big spending cuts give California a budget surplus - Feb. 7, 2013
    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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