Skip to comments.Here’s a surprise (not really): Jerry Brown over estimates how much his tax will generate
Posted on 03/19/2012 11:07:41 AM PDT by Mark Landsbaum
Gov. Jerry Browns plan to raise your taxes would raise less than he planned, according to the nonpartisan Legislative Analyst. So Brown came up with another plan, caving in to union demands. Now Brown would raise your taxes even more. Does Jerry Brown have it right this time?
Guess what the Legislative Analyst says about this new, improved (higher) tax plan?
Just two days after the governor announced his compromise ballot measure to raise taxes, Californias top budget analyst said today the measure will generate $2.2 billion less next year than Brown has estimated...
(Excerpt) Read more at orangepunch.ocregister.com ...
It's the law.
Jerry Brown has proved that the Laffer curve works, in reverse. Higher tax rates produce lower income tax revenue.
EXCERPT---The Great Obama Recession has thousands of aging Americans postponing retirement and watching their nest eggs dwindle. According to the Bureau of Labor Statistics, approximately half of all workers in the United States have saved less than $2,000 for retirement. But despite this crisis, some government employees are sitting pretty on nest eggs most public workers could only dream of.
For example, according to the Congressional Research Service, 290 members of congress who had retired under the Civil Service Retirement System as of October 2006 receive an average annual pension of $60,972.
Not bad, but five-figure annuity is chump change compared with what some civil servants make each year. One California fire chief collects $436,691 a year -- a combination of his padded pension and school consulting income, while a former Congressman convicted of embezzlement collected $100,000 a year.
California has one of the worst pension crises in the countrythe states pension funds are about $500 billion in the red, and over 5,000 retired teachers and administrators receive pensions in excess of $100,000. But the crisis hasnt stopped Santa Clara Countys fire chief from having his cake and eating it, too. Kenneth Waldvogel, who retired at the end of last year, was kept on as a consultant beginning in Januarythat means that for six months he not only took home an impressive consultant salary ($236,691), but a $200,000 yearly pension to boot.
California certainly has no shortage of gold-plated pension plans, but another thing the state apparently needs to spend big bucks on is mosquito control. Of the myriad six-figure pensions, perhaps the most surprising was in San Joaquin countya member of the Mosquito Abatement department, Jack Fiori, takes home an impressive $118,816 each yearthat must have been a lot of dead mosquitos.
Overpaid university administrators are no surprise, but when we spotted a top California pensioner collecting mega money from the Modesto City Elementary school fund, we were a bit shocked. Indeed, James Enochs, a former Modesto City School District superintendent and teacher, takes home a jaw-dropping $296,555 each year. Though he claims that, he too, is ticked off by Californias out-of-control pension program.
Smart parasites never gorge to the point of killing their host. The CA union pension parasites will soon find themselves trying to suck on a corpse; dry, withered and quite dead.
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