Skip to comments.Governor signs $108 billion California budget
Posted on 06/20/2014 11:09:49 AM PDT by Citizen Zed
Gov. Jerry Brown has signed Californias $108 billion budget for the coming fiscal year that pays down debt, builds a rainy day fund and provides additional money for schools and health care. Brown held a signing ceremony Friday in San Diego. He says in a statement that the on-time budget provides for today and saves for the future. The new budget is the highest general fund spending plan in state history. It is built on temporary tax increases and surging stock market revenue. The Democratic governor allowed new spending for the priorities of Democratic lawmakers, including welfare expansion and preschool for 4-year-olds from low-income families. Republicans called the budget a mixed bag.
(Excerpt) Read more at m.washingtontimes.com ...
It’s not the bag. It is what is in the bag and it is quite mixed. Peas and carrots and some brown stuff.
oh goody California’s just gotten themselves some new money...
send all those illegal alien “children” there right quick ...
Looks like Jerry can support them nicely...
That is about $8000 in taxes per working person.
“It is built on......surging stock revenue.”
How does that work? The State buys and sells stocks?
50% for schools with the majority for pensions and not education. The schools have a 50% drop out rate. Those that do graduate cannot read or write or do math very well.
Personal income taxes on sale of stock, including the many IPO’s in Silicon Valley. He should have written it so that it didn’t sound so direct.
Since the MSM won’t volunteer the actual dollar amount, try this
little fund fact activity out on low info folks you may know. Ask
them to guess how much of each California state tax dollar goes to
fund education. Some may say 20-25 cents but most will guess under
10 cents. The true answer is 50 cents per state tax dollar. That figure
comes from the old $100 billion budget. It is even higher under the
new $108 billion budget. Is California getting its’ moneys worth?
I don’t think so.
“Lawmakers agreed to Browns plan to set aside $1.6 billion for the states rainy day fund”
I’m too lazy to delve into the details, but I wouldn’t be surprised at all to find that that $1.6B is borrowed money anyway.
No side effects expected from using MOOTA, but eventual total, complete econonimic collapse. More sooner than later.
It almost seems like the government would have a real interest in seeing stock prices go higher, then. That would increase tax revenue.
“Silicon Valley: New Majority Leader Kevin McCarthy Listens to Us ‘100 Percent of the Time’”
Of particular interest to Silicon Valley lobbyists is McCarthy’s support for increasing the number of high-tech visas, which companies like Facebook covet and have demanded in any immigration bill.
According to Politico, McCarthy “has reinforced a need for high-skilled foreign workers” even though numerous scholars and studies have shown that there is a surplus — not a shortage — of American high-tech workers. These scholars and studies have emphasized that importing more high-tech workers on guest-worker visas would lower wages more in an industry that has not seen wages increase since Bill Clinton’s presidency.
Temporary until a bigger increase.
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