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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.
 
Lutherf said:
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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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.
 
penn1954 said:
Just remember Figures lie and Liars figure!!!:peace
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Well, conservatives lie. How's that California is going bankrupt meme working for ya!

BWHAAAAAAAAAAAAAAAA!
 
head of joaquin said:
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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:lamo

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.
 
ocean515 said:
:lamo

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.
Click to expand...

Thank you!

As I mentioned to H of J Figures lie and liars figure!!
 
ocean515 said:
:lamo

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.
Click to expand...

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!
 
head of joaquin said:
California has a $2.4B surplus.
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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.
Click to expand...
 
head of joaquin said:
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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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.
 
I wouldn't be opposed to a one time hike in tax rates.
The Govt could use the money.
a change in the tax rates beyond a year. No good. California will most assuredly find out why.
 
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!
Click to expand...


Why the state of Abject Delusion, of which it is apparent there is at least one resident!

Here's some more facts to run from...


California’s Balanced Budget: Not as Good as It Looks - By Veronique de Rugy - The Corner - National Review Online

Brown’s budget not only assumes $1.1 billion in higher income and sales tax revenues than the November projections, but it also takes advantage of an additional $1 billion in revenues that will supposedly be created by the state’s new cap-and-trade program and the elimination of certain development tax breaks.

But Brown was hardly in a position to make such assumptions. Before his speech, the first round of cap-and-trade auctions had already taken place, producing only 14 percent of expected revenue. In addition, California’s state controller had already released numbers in December showing that actual tax collections were 10.8 percent below projection.
 
Taylor said:
Not according to your article:
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Gee, is that all! Still a surplus

The rightwing noise machine is proved false again. It's becoming a habit, like Palin saying something stupid about the revolutionary war.
 
ocean515 said:
Why the state of Abject Delusion, of which it is apparent there is at least one resident!

Here's some more facts to run from...


California’s Balanced Budget: Not as Good as It Looks - By Veronique de Rugy - The Corner - National Review Online

Brown’s budget not only assumes $1.1 billion in higher income and sales tax revenues than the November projections, but it also takes advantage of an additional $1 billion in revenues that will supposedly be created by the state’s new cap-and-trade program and the elimination of certain development tax breaks.

But Brown was hardly in a position to make such assumptions. Before his speech, the first round of cap-and-trade auctions had already taken place, producing only 14 percent of expected revenue. In addition, California’s state controller had already released numbers in December showing that actual tax collections were 10.8 percent below projection.
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National Review. Perfect!

See how the rightwing noise machine just can't stand the thought that raising taxes works, and so does California.

By the way the meme that businesses are leaving California in droves . .. more rightwing dreck. Totally debunked.


Studies not stories: Businesses are NOT leaving California | California League of Conservation Voters (CLCV)

NEXT!
 
KLATTU said:
I wouldn't be opposed to a one time hike in tax rates.
The Govt could use the money.
a change in the tax rates beyond a year. No good. California will most assuredly find out why.
Click to expand...

Conservatives keep repeating this meme. But if you want to make money in hi tech, in trade on the Pacific rim, in intellectual property, you come to California not Alabama.
 
head of joaquin said:
National Review. Perfect!

See how the rightwing noise machine just can't stand the thought that raising taxes works, and so does California.

By the way the meme that businesses are leaving California in droves . .. more rightwing dreck. Totally debunked.


Studies not stories: Businesses are NOT leaving California | California League of Conservation Voters (CLCV)

NEXT!
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:monkey


Some people make it so easy....


As Manufacturing Picks Up Nationwide, California Struggles to Compete

February 5, 2013

By contrast, a closer look at manufacturing in California reveals a different trend, with manufacturing jobs declining over the past year. According to the state’s Employment Development Department’s January report, the state unemployment rate remained unchanged at 9.8 percent in December, while four categories, including mining and logging manufacturing, other services, and government, posted job declines over the past year.


HINT: Never enter into a debate about California. It's the Progressives worst nightmare. You can't hide what has been done to one out of eight people living in this country.
 
Speaking of memes going down the drain, I see that California is coming up with big spending cuts? Huh? I thought Government spending was good for the economy?
 
ocean515 said:
:mdonkey


Some people make it so easy....


As Manufacturing Picks Up Nationwide, California Struggles to Compete

February 5, 2013

By contrast, a closer look at manufacturing in California reveals a different trend, with manufacturing jobs declining over the past year. According to the state’s Employment Development Department’s January report, the state unemployment rate remained unchanged at 9.8 percent in December, while four categories, including mining and logging manufacturing, other services, and government, posted job declines over the past year.


HINT: Never enter into a debate about California. It's the Progressives worst nightmare. You can't hide what has been done to one out of eight people living in this country.
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Pssst: California has the largest manufacturing base in the nation. Indeed, Southern California does, all by itself!

http://www.ourweekly.com/los-angeles/southern-california-has-largest-manufacturing-economy

Jeez, it's like taking oxycontin from a comatose Limbaugh.
 
KLATTU said:
Speaking of memes going down the drain, I see that California is coming up with big spending cuts? Huh? I thought Government spending was good for the economy?
Click to expand...

So many memes, so little time.

1. Aaaahnold left a mess, so we had to cut.

2. We also raised taxes, which is why we have a surplus.

3. Now the cutting is through and in fact spending will increase, thank God.

That's how you grow -- you invest. A concept lost on conservatives.
 
Baaaa, why care about California? I want to care about how bad my state is... you know the united one, thats my state
 
head of joaquin said:
Pssst: California has the largest manufacturing base in the nation. Indeed, Southern California does, all by itself!

Southern California has the largest manufacturing economy | Our Weekly - African American News | Black News | Black Entertainment | Black America

Jeez, it's like taking oxycontin from a comatose Limbaugh.
Click to expand...


:lamo

So although the base has been cut substantially, it's still super big, so all is well...

I didn't think it would be so easy to prove how ill suited Progressives were to govern and understand simple concepts. The fact is liberal/progressive regulatory and tax initiatives have caused 30% of the manufacturing jobs in California to be lost over the last 20 years.

That's called screwing the middle class, which doesn't hold to the "we care" narrative now, does it?


California losing manufacturing jobs faster than rest of U.S.

California is losing a battle with other states to retain and attract manufacturing jobs, and the cost of doing business is largely to blame, according to a report released today by the Milken Institute.

Manufacturing 2.0: A More Prosperous California found that California had 21 percent fewer manufacturing jobs in 2007 than in 2000, compared with a decline of 20 percent nationally and 13 percent among seven states that are competing for the same types of manufacturing jobs.
 
ocean515 said:
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.
Click to expand...

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!
 
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!
Click to expand...


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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