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Exodus: California Tax Revenue Plunges by 22%
Breitbart ^ | 3/13/12 | Chriss W. Street

Posted on 03/13/2012 7:41:31 PM PDT by Nachum

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., 'I have found it'. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011. (snip) California politicians seem delusional in their continued delusion that high taxes have not savaged

(Excerpt) Read more at breitbart.com ...


TOPICS: Government; News/Current Events; US: California
KEYWORDS: california; exodus; revenue; tax; taxes
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To: Savage Beast

What you said BUMP.
The problem is, after the simpletons have finished fouling their own nest they’ll move to other states and take their destructive Democrat voting habits with them. We need to build a fence between California and America.


61 posted on 03/13/2012 8:44:49 PM PDT by Lancey Howard
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To: Nachum
I live in CA. I was at the store and a guy out front was collecting signatures for a Ballot Proposition.

The Proposition was to fund Education by adding a 3% Income Tax to people making over a Million Dollars a Year. We already have the highest State Tax Rate at 11%. It was 10%, but (Meathead) Rob Reiner from All In The Family decided we needed another percent for the Children.

Delusional doesn't even come close.

62 posted on 03/13/2012 8:50:46 PM PDT by Kickass Conservative (A day without Obama is like a day without a Tsunami.)
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To: rbg81

50 years???

California has 10 left. 20 absolute max.

Well past the tipping point. Only thing saving the state so far, is that something so big, tips over slow.

Short a complete revolution of American business, leading to an industrial renaissance in America - CA is going to take the full brunt of the looming massive trade war with China.

What do you think pays for California right now?

The port of Long Beach, offloading Chicom products.

That’s not sustainable. When it ends, what’s left in the state to pay the bills?

Hollyweird? Television?

Like they’re gaining market share?


63 posted on 03/13/2012 8:51:27 PM PDT by Cringing Negativism Network ("The door is open" PALIN 2012)
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To: Crazy ole coot
Oh yeah...The biq quake that'll swallow us all up...I ferrrgot.

You're right, I'm sceeered...Packing my bags now, and doing the big chicken to the brown snow sticky woods...Where I will be safe forever.

Yuk yuk.

BTW, I'm just pullen your leg coot.

Best of luck wherever ya are. I've always ran to the sound of the guns, and choose not to run away. They don't have what it takes to make me pull up stakes. Take care and best of luck.

64 posted on 03/13/2012 8:53:56 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Lancey Howard

Don’t worry.

The parasites will be the very, very last to leave CA.

They’ll still be in line for hand-outs.


65 posted on 03/13/2012 8:54:22 PM PDT by Cringing Negativism Network ("The door is open" PALIN 2012)
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To: The Antiyuppie

Arthur Laffer already took a look at his curve of Kali, and moved to Tennessee.


66 posted on 03/13/2012 8:55:25 PM PDT by Calvin Locke
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To: jennychase
You're lucky, I owe them some money. They will have to wait until the very last minute to get my cash.
67 posted on 03/13/2012 8:55:53 PM PDT by Kickass Conservative (A day without Obama is like a day without a Tsunami.)
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To: dragnet2

Nothing agains you. I have spent many years in Calif. Van Nuys, San Francisco, Ft. Ord, L.A., and waaayyy up North in a little town named Gridley off of 99E.

So, I knew Calif back when it was a nice place. The worst place I lived was in the Imperial Valley which is where I moved from.

I have been all over the United States and still like the Southern life.

Best of luck. Oh, I wasn’t talking about the supposed “big” one hitting. I just don’t like the small and midsized quakes. Been through too many to count.


68 posted on 03/13/2012 8:59:56 PM PDT by Crazy ole coot (Mr. obama and Sen. Rubio are NOT Natural Born Citizens.)
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To: Cringing Negativism Network

I think you’re being rather optimistic there. My estimation is “10 max, with fiscal implosion within 5.”

My reasoning is founded upon the numbers coming out of CalPERS. The public employee pension problem is just starting to explode now, and the legislature and Brown are doing nothing about it.

CalPERS continues to predicate their estimates of future pension viability on 7.25%+ rates of return. How do this comport with reality?

Well, last year, CalPERS’ return on their investments was (drum roll please!) 1.1%.

Yea, that’s right. Below the rate of inflation.

And the Fed has indicated that they’re going to keep pumping money into the liquidity trap they have created, so rates aren’t about to go up anytime soon... which means that to get yield, CalPERS has to either take on a lot more risk, or they have to move out the yield curve in maturity. Both aren’t viable options for a pension fund that is facing a rapidly increasing number of claimants.


69 posted on 03/13/2012 9:00:05 PM PDT by NVDave
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To: Kickass Conservative

I live in California too. It is a sad sorry state. I like it here, but it is a tough slog.


70 posted on 03/13/2012 9:00:08 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

More chickens coming home to roost, to quote our beloved president’s favorite preacher.....


71 posted on 03/13/2012 9:08:49 PM PDT by Intolerant in NJ
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To: Cringing Negativism Network

The longshoremen Union will be getting a wake up call very soon. That port in Northern Baja is getting near completion along with the rail facility and the Panama Canal will be overhauled in about 2 years which will move a good deal of shipping away from Cal to the east coast.

Lived in Cal in the 70s and 80s and was fortunate to get out of there when I did. Thought it was great in the 70s and saw the slippage beginning in the mid 80s. I am beyond upset regarding now the libs and illegals turned a virtual paradise into a morass. Those leaving now were the last hope as they take their earnings with them leaving the state with no choice but to raise taxes to beyond insane levels on the earners and producers while allowing the moochers to suck the remaining life out of the state.

RIP


72 posted on 03/13/2012 9:11:31 PM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: Nachum

Laffer is Laffing!


73 posted on 03/13/2012 9:11:31 PM PDT by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: Nachum

Excellent.


74 posted on 03/13/2012 9:12:40 PM PDT by NoLibZone (Liberal concern for womens rights is fake. I submit their love of Bill Maher as proof.)
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To: Nachum

States filled with liberals.

They don’t even pay the Bush Rates.

Heck they are in the mid teens.

No wonder the States broke.


75 posted on 03/13/2012 9:13:52 PM PDT by NoLibZone (Liberal concern for womens rights is fake. I submit their love of Bill Maher as proof.)
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To: Nachum

Jerry Brown Solution:

REPEAL PROP 13 so we can RAISE TAXES even more!!


76 posted on 03/13/2012 9:15:53 PM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: Crazy ole coot
Know what ya mean. I was near epicenter at a punny 5/8 or something....I thought it was the end of the &#%@$* world. Rock and roll, floor jumping, full tilt...Blue flash transformers going off, close......After we all visited the bathroom, an later found there was not a lick of damage..Including the chimney which is vulnerable.

This planet can kick back...I've seen it multiple times.

77 posted on 03/13/2012 9:30:18 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2

Just be thankful that you were not hurt. I was at Anchorage in 64 when the 9.2 hit. I decided real fast that I don’t like the ground moving under me.

At least I can now hide from bad weather. I went through the F-5 tornado in Ok City in 99 and decided I don’t care for them too much either.

But, I do still have some family in Calif and I pray for them to remain safe. I don’t know how they are going to survive with the tax rates there.


78 posted on 03/13/2012 9:37:23 PM PDT by Crazy ole coot (Mr. obama and Sen. Rubio are NOT Natural Born Citizens.)
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To: Crazy ole coot
Just be thankful that you were not hurt

I was hurt...so to speak of. All we could think of at the time was get to the kids, as I jump out of bed, foot snag on whatever bedding and belly flopped on the floor..broke some bone in my foot. It was no big deal though. I didn't even notice it until the next day. My fault for moving too fast during the event. Not good, as during any event, one should try their best to avoid injury, as help may not exist at the time.

79 posted on 03/13/2012 9:56:46 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Crazy ole coot
I do still have some family in Calif and I pray for them to remain safe. I don’t know how they are going to survive with the tax rates there.

Maybe ask them to join you in Tennessee. Take them in, and share brother! Stock the fridge prior to their arrival an be sure they have tasty yummies on demand.

I'll reserve or hold back my laughter, depending on your response.

80 posted on 03/13/2012 10:02:35 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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