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Despite Tax Increase, California State Revenues in Freefall
http://gopthedailydose.com ^ | december 8, 2012 | amy

Posted on 12/08/2012 7:47:45 AM PST by lowbridge

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To: Clump; E. Pluribus Unum

>>The Laffer curve is not funny for those whose refuse to acknowledge its truth.
>>
>>The people in charge are either stupid or just don’t care about the consequences.

I don’t see this as an either/or situation. They are both stupid and evil. They embrace the consequences because they believe the high taxation on the rich” will even out “wealth inequality”, and they see this as a desirable outcome appropriate to be addressed via government taxation policy. Who cares if it destroys the economy for everyone?

And further regarding Laffer, these people are largely innumerate. Expecting them to properly interpret a very complex chart (not really) and the resultant effects on public policy is asking a whole lot.


61 posted on 12/08/2012 9:51:15 AM PST by FreedomPoster (Islam delenda est)
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To: lowbridge

The addict needs higher and higher doses to achieve the high they crave.

Giving more taxes to Sacramento is like giving heroin to an addict.


62 posted on 12/08/2012 9:51:56 AM PST by morphing libertarian
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To: buwaya

Yeah, I think the taxes take effect next month.

They are using projections. So if the increased tax income is less, the deficit will actually be higher than they are projecting.


63 posted on 12/08/2012 9:57:38 AM PST by morphing libertarian
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To: lowbridge

If you want less of something, tax it. Raise income taxes and income drops. Less income equals less revenue. CA isn’t smarter than a 5th grader.


64 posted on 12/08/2012 10:00:49 AM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: buwaya
People who are wealthy in California aren’t likely to leave just because of this increase.

You're not considering the fact that people of means don't have to leave California to have their income leave California. Many of them do exactly that, spend considerable time where they like in CA as tourists, but are legal residents and taxpayers of other states.

People of means can Californiaproof their wealth while spending small amounts of time outside the state, and they do.

65 posted on 12/08/2012 10:10:01 AM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Paul R.

It’s an income tax not a wealth tax. The super rich probably don’t need much income. What they own is bought and payed for.


66 posted on 12/08/2012 10:10:55 AM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: Future Snake Eater
At least there’s no income tax in WA.

And there's no sales tax in OR.

Live in WA, shop in OR!

67 posted on 12/08/2012 10:11:42 AM PST by Max in Utah (A nation can survive its fools, and even the ambitious. But it cannot survive treason from within.)
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To: lowbridge

Gee, this is so “unexpected”.
Raise Taxes and revenue falls what a coincidence.

Baaah, humbug.


68 posted on 12/08/2012 10:13:55 AM PST by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: lowbridge

If you tax something, you get less of it. If you subsidize something, you get more of it. California taxes the creation of wealth, and it subsidizes illegal immigration. ‘Nuff said.


69 posted on 12/08/2012 10:15:26 AM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: FlingWingFlyer

state revenue for the month of November 2012 fell $806.8 million,

I believe this is called the “Lafer Curve” taxes can only go so high then revenues begin to fall.

a basic rule of economics and taxation....proving that all the Morons in Sacramento are clueless. and have Destroyed the State...voted in by stupid Parasites.


70 posted on 12/08/2012 10:20:43 AM PST by LtKerst
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To: lowbridge

Sometimes the jokes just write themselves.


71 posted on 12/08/2012 10:25:46 AM PST by facedown (Armed in the Heartland)
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To: lowbridge

>voters clearly demonstrated their willingness to invest in our public schools and colleges

WTF? By increasing the tax rate of the people that provide jobs in CA? Any halfwit should know that these people they increased the tax burden on just might up and leave for greener pastures.

Too many people don’t use their brains.


72 posted on 12/08/2012 10:33:40 AM PST by soycd
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To: lowbridge

The ministry of truth reports that due to lower productivity chocolate rations will be decreasing. The good news is our war with East Asia will continue forward with our invasion of Syria.


73 posted on 12/08/2012 10:44:37 AM PST by justa-hairyape
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To: QBFimi
>>> “Don’t Californicate Colorado”

Californication of the 2010 elections
74 posted on 12/08/2012 10:49:09 AM PST by Safrguns
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To: lowbridge

Really All those taxes don’t equate to More Revenue? Shock Shock!!! Guess they are all leaving!!!!


75 posted on 12/08/2012 10:53:40 AM PST by tallyhoe
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To: lowbridge

Math is a bitch.


76 posted on 12/08/2012 10:54:37 AM PST by Redcloak (Winter is coming.)
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To: lowbridge

Well duh. The rich didn’t get rich by being stupid...or by being sheep. They will pick up their wealth and move elsewhere...where the taxes are less punative. After all....if anyone can afford to just move somewhere else, the rich can.

The ones who will suffer either directly or indirectly are those that can’t afford to just pick up and move to another state or country. Per usual.

This nation is already at “Idiocracy” status. We’re quite screwed.


77 posted on 12/08/2012 10:59:11 AM PST by XenaLee (The only good commie is a dead commie.)
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To: buwaya
a. Tax increases haven’t hit yet.

That's what I was wondering. The tax hikes were only voted in a month ago. I don't see how they could be implemented already AND the effects of it seen.
78 posted on 12/08/2012 11:02:44 AM PST by yorkiemom
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To: XenaLee; lowbridge
This nation is already at “Idiocracy” status. We’re quite screwed.

Link only.

Note the last sentence in the last paragraph.

79 posted on 12/08/2012 11:04:34 AM PST by thecodont
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To: lowbridge

BECAUSE OF not in spite of .


80 posted on 12/08/2012 11:05:09 AM PST by Vaquero (Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
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