Skip to comments.Gov. Jerry Brown's budget tries to tame wild capital gains
Posted on 01/09/2014 11:53:13 PM PST by A CA Guy
Hey Wall Street, California owes you one.
The prolonged bull market has produced two banner years for (stock Market) capital gains in the state, with an even better year expected in 2014. The result has been surging capital gains tax revenues, which account for all of the surplus projected by Gov. Jerry Brown for the coming year.
(Excerpt) Read more at latimes.com ...
In this case California is announcing great stock market revenues and this to me means the whole country had the same situation going on and the Feds took in a bunch of new revenue from stock market sales.
Look soon for Obama to soon be making glorious claims like Clinton did for a short time about how Obama's great economic policies are doing great things for our economy. Then watch the whole Clinton years scenario happen again as it crashes and it could be worse this time by far because we have the Treasury pumping up to 40% of all the money now that made up the market recovery, so it was false to begin with.
Anyway, to me the full article is telling me the profits have again being taken out by those that know better and who are very willing to be gone and have paid the taxes on their profit before an expected crash. Soon we will get an Obama national gloat over similar national capital gains income that of course Obama will say are due to his remarkable policies.
Are we now to see a crash again like during the Clinton years? You never know till it happens for sure, but IMO hold on tight because here we go again. The smart ones are paying all these taxes to get out and are again leaving the stock market for others go down in. In addition, this time there hasn't been much of an economic recovery as stock went up, so if we get the similar crash as we did during Clinton, watch out!
“which account for all of the surplus projected by Gov. Jerry Brown for the coming year.”
Another way to account for a projected surplus is to lie about it.
The Fed prints $85 billion a month out of thin air.
Wall Street big boys make money.
States collect more taxes.
Retirees lose their lives savings.
Well, two out of three ain’t bad.
That is what happened before during Clinton and this looks to me like that in spades.
The other issue is, where do all the taxes and fines go for Obamacare?
That money could end up taking many billions out of savings and the economy to be gifted where? To pay off who? To provide power and money to whom?
See, the Obama will say this is where extending unemployment and other things will come from.
He will say this was due to his greatness and blah blah rather than a group of smart people running away from the stock market with profit leaving others to enjoy the fall.