Skip to comments.California’s tax revenue drops 33.5 percent exposing Sacramento’s delusion
Posted on 08/21/2012 8:13:32 PM PDT by Free ThinkerNY
Revenue from Consumer sales fell a whopping 33.5 percent or $475 million, further demonstrating a severe reality check for the Golden States recovery plan.
Decades of poor leadership from the state capital have contributed to an unsustainable yearly budget which means California voters must either substantially raise taxes or cut, cut, cut.
All the accounting gimmicks have failed, Obamas stimulus dollars only postponed the inevitable, Facebooks shares have crashed, taxpayers havent approved a tax hike in the past few elections as their wallets are empty, the high-speed train to nowhere will only add to the states budget crisis and now the nations leading credit industry Moodys will make it official by bludgeoning municipal credit worthiness.
The new report from State Controller John Chiang pointed out that Californias July sales tax revenue was down 33.5 percent from estimates that supported the just passed state budget.
(Excerpt) Read more at examiner.com ...
Thus, California needs to cut all of their year-to-year expenses by 33.5 % to live within their means.
End all payments to illegals.Then cut state employees and the budget by 40%. Then get down to the real cutting.
And Hollywood leaving the state for tax reasons.
We refuse to feed the government beast if at all possible.
It will be interesting watching government employees attempt to survive confiscating money from illegals making 8 bucks an hour. .
We plan on holding a party when state government eventually collapses under it's own obese corruption.
Where’s Chainsaw Al when you need him?
Oh, going nowhere, except on a fast train
Oh, trying to get away from the past
Oh, keep on moving keep on moving on a fast train
Going nowhere, across the desert sand, through the barren waste
On a fast train going nowhere
On a fast train going nowhere
San Francisco steals their water from Yosemite, so they have no dog in that hunt.
That’s nothing, wait until they raise taxes.
Now that’s a blast from the past. I remember him well from when I was on wall street.
And BULLCRAP MULTI-BILLION $$$ HIGH-SPEED RAIL projects for illegal alien commuters.
How about no government pension starts paying out until age 68? Nah, it makes too much sense not to pay retirement benefits until someone has actually reached retirement age. Might as well keep paying them full salary to sit around with their thumbs up their derrieres (or to take another gooberment job while being paid full retirement). It’s worked so well thus far.
Going Gault in californication? They deserve every bit.The conservatives better un-ass that state and quick.
Good for you.
Romney should use this as an example of what happens when you raise taxes.
They are all deluded like Obama. They believe the more money they spend, the more money will come in, as part of their "you didn't build that" mentality.
Two ideas to reduce spending without sacrificing anything:
1. There are 512 state commissions in California. Eliminate 500 of them... (I’d say eliminate all of them, but it will be fun watching them go at each other to grab one of the few slots).
2. We have too many non-teaching positions in education. In my city, we have:
- Local School District
- County School District
- State Board of Education
- State Department of Education
and then, of course, we have the federal Department of Education.
None except the local school district has teachers in classrooms. Let’s eliminate those and then come talk to me about dropping teachers.
Business as usual.
Budget expenses are estimated low and always increase, based on estimated revenue, which is always estimated high, and is always less.
Nothing short of replacing the entire legislature, the bureaucracy and the courts can save the dysfunctional pervert state.
surprise surprise surprise