Posted on 05/03/2009 5:17:30 PM PDT by NormsRevenge
The state may get more bad fiscal news this week when the state controller makes his final tally of April sales taxes.
It's no secret that the recession is taking a toll on the state's thinning coffers, but more troubling is that revenue is coming in slower than pessimistic forecasts.
April, the state's largest tax-collection month, has fallen short of expected revenue by more than $1.8 billion in personal and corporate income taxes. The state was $750 million behind projected tax collection on April 1.
There's good reason to believe April's sales tax receipts may disappoint, too. New car sales the first three months of this year fell by 43 percent compared with the same period last year, according a report last week by the California New Car Dealers Association.
Auto-related sales tax (car sales, parts, etc.) make up about 20 percent of the state's sales tax receipts, said Paul Warren, a revenue and taxation analyst for the Legislative Analyst's Office.
(Excerpt) Read more at sfgate.com ...
Poor tax revenues? That’s a shame....
Chapter 9 ???
OK, then social services may fall short of wildly optimistic forecasts.
What's the big problem? :)
Well they should just raise taxes. :)
Hey ..C.....A.....!
Cut California state Govt. overhead.
Send Mexican Citizens back to their Country with a copy of the constitution.......
Implement Reaganomics
Well, How’s the doubling off those car reg. fees working for us now!
Oh, that 1% sales tax must be helping too!
The rest must be bird feed!
I see them flocking to TX. They are just now seeing what I saw 3 years ago. Much better here. IMO
I be here in East Tennessee
Thez gonna hafta pry me outta
here with a crowbar
Municipalities can do that, but not states.
Yeah. Before long they'll have the numbers to change the state to the Utopian ideal that California is.
They just don’t pay.
On top of all this, the Enviros will levy Cap-and-Trade and low-carbon fuels sure to raise gas prices.
You and I must have left around the same time. I got out in late 2005 and planted roots in North Texas. Best darn move I could have made, in my opinion.
And for the record, I was born and raised in Cali.
I believe that there are at least as many, if not more conservatives flocking here to Texas because it's seen as something of a "safe zone" for us.
Most libs, on the other hand, see Texas as "enemy territory". My whole family is liberal, and they all think I moved into the belly of the beast.
Arnie tried this with a series of Propositions that he backed (2006 I believe) Too many RATs, NEA, freeloaders and Illegals to vote against them and they all went down to defeat. At that point Arnie threw in the towel and whatever Republican principles he had left and went with the “If you can't beat the, join them’ route.
Ditto. Even though I just took an awesome drive down the coast to Santa Barbara & love this land, it’s insane!!!
We here in CA, that are responsible conservatives, have cut our spending to the bare minumum and are doing our best to reduce our tax burden. What is the surprise in that?
As for the illegals and working poor..thye have a lot less to spend because I’m not paying them. Many of us have decided to stop feeding the beast.
Good point. Its been crossing my mind to get out of MN because of the liberal lunacy. I'd certainly be choosing to go someplace more conservative.
I just moved to a city next to Plano called “The Colony.” I was in CA for 50 years......born and raised.
I never knew I would be this happy. Northeast Texas is BEAUTIFUL! Plano, Frisco, The Colony, etc.......all like OC Irvine......but with a state that knows what it is doing......just watch for the cops......they like to issue tickets here.....if you obey the speed limit and make complete stops........you’ll be ok though.......LOL!
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