Hell Freezes Over: Liberal Mecca California does the impossible: balances budget..

[Ryan]

AND runs a Surplus......http://www.bloomberg.com/news/2013-...us-proclaims-california-s-crisis-is-over.html

Gee - imagine if we could do this on a Federal level.....you know, raise taxes on everyone AND cut spending.........

 

[SpatiallyAware]

I am skeptical.

 

[Phokus]

This was only possible because the Democrats have a supermajority in California now

 

[dank69]

Crossposting for ownage

http://forums.anandtech.com/showthread.php?t=2281676

 

[Genx87]

Crossposting for ownage

http://forums.anandtech.com/showthread.php?t=2281676

Gloat for now. Lets see the results in a few years when spending resumes at normal california rates without tax increases to pay for it.

 

[glenn1]

Congratulations I guess. And all it took was raising state sales tax to 7.5% and top income tax rate to 13.3% (both highest in the nation) to cover spending that's gone up over 40% in the past five years. Sounds like paradise.

 

[SpatiallyAware]

Congratulations I guess. And all it took was raising state sales tax to 7.5% and top income tax rate to 13.3% (both highest in the nation) to cover spending that's gone up over 40% in the past five years. Sounds like paradise.

Is that really how they did it??


Yeah... That is a fantastic temporary fix, until everyone who is supporting the degenerates leave the state.

 

[Londo_Jowo]

Congratulations I guess. And all it took was raising state sales tax to 7.5% and top income tax rate to 13.3% (both highest in the nation) to cover spending that's gone up over 40% in the past five years. Sounds like paradise.

I wonder how many more Californians will move to Texas with 6.25% sales tax and no income tax.

 

[Genx87]

I wonder how many more Californians will move to Texas with 6.25% sales tax and no income tax.

Austin texas has a lot of California transplants. My sister lives in Dallas and has friends in that city.

 

[fskimospy]

I wonder how many more Californians will move to Texas with 6.25% sales tax and no income tax.

Don't forget some of the highest property taxes in the nation in Texas.

Look at property values in CA vs. Texas. That should tell you.

 

[PokerGuy]

So... this is how you solve a budget problem. Spend even more?

The general-fund budget, paying for most basic services, would be the largest since 2008, when Governor Arnold Schwarzenegger, a Republican, and lawmakers spent $103 billion. Brown is calling for total spending of $145.8 billion, including special funds and bond proceeds, the most ever for California and an 11 percent increase since his term began.

So basically, they've increased spending (at least general fund spending) by 40% over the last year or two. Then, they jacked up taxes to increase revenue, and then they used rosy forecasts to pretend that those tax increases won't negatively impact the CA economy.

I find it very amusing that libs think increasing spending by 40% and reducing the deficit by jacking up taxes and rosy forecasts is somehow a good thing.

 

[monovillage]

Don't forget some of the highest property taxes in the nation in Texas.

Look at property values in CA vs. Texas. That should tell you.

What a damn hypocrite, now do your little Prop. 13 tantrum.

 

[Matt1970]

It will take at least 4 years for the effects/impact to be felt/seen

No doubt.

Unless magically the budget balances, then you will think the effects were retroactive.

Crossposting for ownage

http://forums.anandtech.com/showthread.php?t=2281676

 

[Genx87]

Don't forget some of the highest property taxes in the nation in Texas.

Look at property values in CA vs. Texas. That should tell you.

I guess Prop 13 has some value afterall?

 

[Matt1970]

Governor Jerry Brown declared an end to California’s chronic fiscal crisis, projecting the first surplus in a decade thanks to spending cuts and $6 billion in new taxes approved by voters in the most populous U.S. state.

Brown’s budget predicts an $851 million surplus for the fiscal year that begins July 1. The blueprint, including a $1 billion reserve, increases general-fund spending by 5 percent to $97.6 billion. Schools will get an additional $2.7 billion.

These are just projections? We all know projections are always right.

 

[s0me0nesmind1]

Austin texas has a lot of California transplants. My sister lives in Dallas and has friends in that city.

QFT. Austin is the liberal bunghole of Texas. Comes to no surprise that all it is known for is bars - and generally other people who have yet to hit the real world (read: working world) yet.

 

[fskimospy]

I guess Prop 13 has some value afterall?

Haha, sadly no. It's part of the reason the other taxes are high. (and vice versa in Texas)

Don't get me started on the prop 13 hate train again!

 

[s0me0nesmind1]

I guess Prop 13 has some value afterall?

Don't worry, when you have 15-30 people living in a single household it doesn't account for much :sneaky:

 

[rudder]

These are just projections? We all know projections are always right.

The governor was licking his chops on all the new spending from the facebook IPO tax revenue.

 

[fskimospy]

What a damn hypocrite, now do your little Prop. 13 tantrum.

I wasn't claiming that it was superior, you idiot. I was saying that its wrong to ignore property taxes in comparing tax burden.

 

[Genx87]

Haha, sadly no. It's part of the reason the other taxes are high. (and vice versa in Texas)

Don't get me started on the prop 13 hate train again!

He he I keed I keed

The effective tax rate is really a better measure for state taxes. Taxes will be paid it just depends where it comes from. Income, sales, or property. For people in different times of their lives a state is more beneficial.

 

[Jaskalas]

CA has been, what, 21-26 billion in the red each year?

Their projection of this being eliminated in a single year is ridiculous. Will love to see how the final numbers play out.

 

[PokerGuy]

AND runs a Surplus......http://www.bloomberg.com/news/2013-...us-proclaims-california-s-crisis-is-over.html

Gee - imagine if we could do this on a Federal level.....you know, raise taxes on everyone AND cut spending.........

Cut spending? Where do you see a spending cut? According to your link, spending has increased roughly 45% since the governator was there. Spending cut not found, massive tax increase found. Exactly what we DON'T want on the federal level.

 

[Moonbeam]

People who piss into the wind have to move around sometimes, as the wind direction changes.

 

[ShintaiDK]

Alot of bitter and self destructive people here it seems. The news is good news, not bad.