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Thread: Good news, California: Surplus is $2.4 billion

  1. #41
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    when the golden gate bridge collapses from disrepair, then i will consider california too far gone.
    Be careful with that. A lot of us remember the 89 earthquake where many bridges collapsed precisely because they were not kept repaired to the latest standards. Including the Bay Bridge.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by APACHERAT View Post
    That wannabe Republican Governor didn't wear the pants in the family, it was a member of the Kennedy klan who wore the pants in that Governor's family.

    I sure didn't vote for that girly man, I voted for McClintock.
    I love McClintock, but most Californians arent smart enough to vote for him, and even if they did he would be stonewalled.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by sawyerloggingon View Post
    The so called surplus is annual not overall. Calif is still in the hole big time. Proposition 30 that raised taxes is nothing more than a heroin addict making a big score and sitting in his flop house fat dumb and happy. In the end prop 30 will do more harm than good as the earners flee the state.
    Got that right.

    California is doing poorer than most any other states – the liberal leadership and direction are not working:

    • highest rate of poverty in the nation, measured at 23.5 percent, significantly higher than any of the states of the Deep South
    • awash in debt, hundreds of billions of dollars, much of it stemming from the Cadillac salaries, pensions and retiree health-care benefits paid to state employees – only minor progress made to address this continuing problem
      • The unfunded liability for the state’s public employee pension and retiree health care systems is officially estimated at more than $265 billion
      • Under former Gov. Pat Brown, the governor’s father, in the 1960s the state spent 20 percent of its budget on infrastructure. These days that number, including local bond measures, is around 3 percent. By shifting priorities away from the basic freeway and water systems that enable the state’s economy to grow, and toward unsustainable luxuries such as six-figure pensions and lifetime medical benefits for public employees, the state’s public services have become noticeably shoddy. The problems show up the most in troubled cities that have cut back on policing, parks and other public services as they struggle to pay for union-backed benefits.

    • Was one of the last states to fall into recession and first to pull out, now is the first to fall into recession, and the last to pull out - remains among the highest in the nation. Of California’s 58 counties, 27 are burdened by unemployment at or above 10 percent; four of them have a jobless rate higher than 15 percent
    • California students now ranks near the very bottom as measured by the National Assessment of Educational Progress
    • lost 33 percent of its industrial base from 2001-2012, declining 11 percent more than in the United States as a whole
    • Once the national leader in export growth, California has been losing ground for more than a decade and is now a distant second to Texas in total exports.
    • State and local government regulatory agencies are strangling the efforts of small and large businesses to expand
    • Environmental regulation, more restrictive than anywhere in the country, only adds to the burdens on business. Under AB 32, the state’s landmark legislation to combat global warming, energy costs for California manufacturers are projected to be 50 percent higher than any other state
    • Ironically, some national pundits argue that California is not only on the mend but is a model that other states and the national government should follow – Really?
    • Krugman is typically clueless: As New York Times columnist Paul Krugman wrote in his “Lessons from a Comeback” column in March, “California isn’t a state in which liberals have run wild; it’s a state where a liberal majority has been effectively hamstrung by a fanatical conservative minority that, thanks to supermajority rules, has been able to block effective policy-making.” He described those who point out the troubling trends detailed above as “California bashers.”
    • That’s why some progressive Democrats — including a few who will be writing in this series — have embraced pension reform and other efforts to fix California’s broken system.
    California Wake Up Call | The American Spectator

    One of the best indicators of a state’s economic health, according to John Merline, writing inInvestor’s Business Daily, is the “U-Haul Index” (first publicized by economist Mark Perry) to see what people are paying to move into, or out of, the state. Renting a 20-foot truck one way from San Francisco to San Antonio, Texas, for example, costs $1,693. Going in the other direction, however, costs only $983 for the same truck.
    Prison Planet.com » Latest U-Haul Index Shows Californians Leaving for Texas

    Nothing terrifies investors or entrepreneurs as much as the concept of expropriation. When governments decide to expropriate legally obtained assets, entrepreneurs who worked tirelessly to build businesses and investors who risked scarce capital end up with little to nothing for their troubles. In fact, developing countries often get saddled with country risk premiums, making it harder for them to attract capital because the mere threat their governments will someday seize profitable companies or industries keeps investors away.
    So it’s all the more puzzling that California, home of Silicon Valley and the densest concentration of entrepreneurs in the nation (possibly the world) would pass Proposition 30 in last month’s election. Regardless of your personal views on the issues of taxing and spending, there is one thing that cannot be overlooked. Prop 30 includes a gigantic retroactive tax increase on legitimate capital gains and ordinary income that dates back to Jan. 1, 2012.
    The top marginal rate jumps by 29.13 percent to a staggering 13.3 percent of income. Oddly, California doesn’t distinguish between ordinary income and capital gains in the way the federal government does. The result is that we have nearly doubled the 15 percent federal capital gains tax rate, and this applies to income earned in the past, for which taxes have already been paid.
    What Proposition 30 Means for California

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by clownboy View Post
    Be careful with that. A lot of us remember the 89 earthquake where many bridges collapsed precisely because they were not kept repaired to the latest standards. Including the Bay Bridge.
    i meant that if the golden gate bridge colapses due to it's own weight and not because of any outside forces.
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by clownboy View Post
    Be careful with that. A lot of us remember the 89 earthquake where many bridges collapsed precisely because they were not kept repaired to the latest standards. Including the Bay Bridge.
    I was able to feel that earthquake from almost 500 miles away.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    i meant that if the golden gate bridge colapses due to it's own weight and not because of any outside forces.
    But you see part of why the Bay Bridge collapsed WAS because of lack of proper maintenance, because the state couldn't afford it. That's the point.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by APACHERAT View Post
    I was able to feel that earthquake from almost 500 miles away.
    Yeah, that was horrendous. My grandarents were living in Oakland and boy did they ever feel it.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by clownboy View Post
    But you see part of why the Bay Bridge collapsed WAS because of lack of proper maintenance, because the state couldn't afford it. That's the point.
    i consider failure in terms of what afghanistan, iraq, turkmenistan, and Somalia are considered failed states.

    California is not in anarchy so it has not failed, and i refuse to believe that we have failed in the same way as Somalia.
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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by polgara View Post
    I don't know, but that hasn't stopped the gleeful speculation that they might! How can a state live under a Damocles sword of a $400+ billion dollar debt? How much debt is too much? Are there plans to reduce the debt?
    They are going to apply the surplus to the debt every year. At this pace they will have it payed off in about 170 years.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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    Re: Good news, California: Surplus is $2.4 billion

    Quote Originally Posted by Unitedwestand13 View Post
    i consider failure in terms of what afghanistan, iraq, turkmenistan, and Somalia are considered failed states.

    California is not in anarchy so it has not failed, and i refuse to believe that we have failed in the same way as Somalia.
    Whoa there chief, don't go setting the bar too high!
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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