State income tax revenue runneth over

Sacramento Bee ^ | 5/3/6 | Clea Benson

[SmithL]

John Laird, chairman of the Assembly budget committee, said the increased revenue is just about enough to cover all of those expenses that were not included in the governor's January spending proposal, plus a few other things that Democrats want.

[SmithL]

Just like every other time California politicians get a few extra dollars, they'll use the money as a down-payment on big-ticket items.

[rhombus]

Damn those tax cuts for the rich. ;-)

[rhombus]

The pace of revenues is amazing even the experts who make a living predicting how much the state will earn.

Earn?

[11Bush]

setting the stage for a debate among lawmakers over what to do with the bounty

How about give it back to the people it belongs to?

[Libertarian444]

The pace of revenues is amazing even the experts who make a living predicting how much the state will earn confiscate.

Fixed.

[RetiredArmy]

$4 BILLION IN BANK ACCOUNTS!!! FOUR BILLION OF OUR DOLLARS MAKING DOLLARS FOR LIBERAL RINOCRATS AND SOCIALIST DEMOCRATS TO SPEND!!! SPEND!!! SPEND!!! THAT MONEY SHOULD BE RETURED TO THE RIGHTFUL OWNERS FROM WHICH IT WAS CONFISCATED!!! THE DAMNED GOVERNMENT IS NOT A BUSINESS, NOT IN THE BUSINESS OF MAKING MONEY. THEY ARE SUPPOSE TO ONLY GET WHAT IS NECESARY TO RUN THE STINKING GOVERNMENT FOR THE YEAR, NOT STOCK PILE MONEY TO BUY MORE VOTES ON. I think it is time for another American Revolution and take back the Republic from the stinking politicians.

[UlmoLordOfWaters]

I read this article with great interest. For the first time, I owed more in CA state taxes than federal. Usually, when I've owed state taxes, it's a very small amount compared to the feds. This year, CA state taxes were 3x the fed amount.

Has anyone else in CA had this experience? I wondered if they changed the tax code, but the article makes me wonder. If the code was changed to get more taxes, there wouldn't be surprise at the FTB.

[RetiredArmy]

In the words of the Great One, Ronald Reagan: We start bombing when this news conference ends (or something like that!) I only wish we had enough people in the Republic that actually cared what happened to the country. But, when it comes to defending the Republic, I am afraid that the numbers who care are vastly outnumbered by the ESPN, talk show, American Idiot, Offpra watching types. If it does not up set their TV time and pizza delivery while watching, they don't care. The Republic is in a sad state of affairs. A group of less than 5% are running the entire show while the other 95% watch TV and don't care. Stop the planet, I want to get off in 1800 or so. When people cared.

[ErnBatavia]

This year, CA state taxes were 3x the fed amount.

That's really weird, because we know that CA state tax is based upon your federal (that's why when you file, you attach a copy of your federal return).

I'm not current anymore, but I believe California's top rate is something like 11 percent; much less than the Fed.

Could your situation be as it is because you got a very large state refund last year (making it state taxable income this year)?

[Jo Nuvark]

So to those who want to bash our Governator... Shut up!

Apparently he IS doing a good job in spite of the Socialists
in Sacramento and the 9th Circuit Court of Appeals.

[kentj]

Oh they have to be kidding - sales tax and 7.5% on FUEL that might explain where the boost is coming from - do you really think they can't tell where the increase is coming from???

But boy would the s--t hit the fan if they made it public - infact you can expect to see the same kind of windfall for every state that has a sales tax on fuel.

Duh

[UlmoLordOfWaters]

I thought it was strange, too. I didn't get a refund last year, but paid a small amount. My parents had the same thing happen to them this year.

[ChinaThreat]

I agree. This country is full of lazy, fat-headed unintelligent slobs. The remainder are psycho socialists or foreign immigrants. This country doesen't have a chance in hell. I'm going to Alaska and pushing for secession :-)

[monkeyshine]

I'm sure the sales tax on Gasoline had something to do with it, as well as some sales of homes (not "real estate deals" but people who have lived in California for 20-30 years and paid $10,000 for their home, sold it for $1.4 million... hard to hide all that profit from the taxman, for a common person who doesn't hide millions of dollars all the time.

[kentj]

it is sales tax on gas and real estate prices it is they that get the credit are you sure you want give the credit to the Guvanator?

[NormsRevenge]

I know.

Let's spend it!

---

The Gub and crew will make a token payment to paydown debt (if they have a clue) and blow the rest on a PR campaign to curry the teachers unions and parents favor in the upcoming election; i.e., by paying them their "owed" money..

[Mrs. Darla Ruth Schwerin]

Well, so is Arizona's. But do you think Sassy Nappy would refund anything or put it in an emergency fund? No, the money-monger will probably pour the money into some useless welfare merry-go-round...

[RetiredArmy]

Yell when you are packed and swing by WA state, I'll tag along.