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(Democrat) Brown pushes tax hike as California's money woes deepen
reuters ^ | 5/14/2012 | Jim Christie

Posted on 05/14/2012 3:24:51 AM PDT by tobyhill

(Democrat) California Governor Jerry Brown was elected in 2010 on a promise to fix the state's chronic fiscal crisis. His weekend announcement of a much bigger-than-expected shortfall in the state budget signals how far he still has to go.

In an unusual move that underscored the highly politicized nature of the state budget, Brown took to YouTube on Saturday to deliver the bad news: the state's projected budget deficit for the fiscal year starting July 1 is now $16 billion, up from the $9 billion anticipated in January.

The Democratic governor also warned of further cuts to an already-battered public education system if voters rejected a tax increase in a ballot initiative this fall.

On Monday, Brown will hold a news conference to detail the new budget deficit and how he intends to close it.

California, whose economy is the largest in the nation and would rank ninth in the world if the state were a country, has struggled for decades with a tax system in which property tax increases are limited by law and tax hikes of any kind must be approved by voter initiatives or a two-thirds vote of the legislature.

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


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 05/14/2012 3:24:52 AM PDT by tobyhill
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To: tobyhill

They’ll be asking for a bailout from us soon. I promise.


2 posted on 05/14/2012 3:36:31 AM PDT by Principled
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To: tobyhill

It is amazing that the land of nuts and fruits, and governed
by total idiots and morons, would have the ninth largest economy in the world.


3 posted on 05/14/2012 3:38:40 AM PDT by AlexW
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To: tobyhill

And tithe plan is to drive every last one who still pay taxes away.


4 posted on 05/14/2012 3:38:48 AM PDT by cunning_fish
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To: tobyhill

..why isn’t he recalled?


5 posted on 05/14/2012 3:45:43 AM PDT by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: Principled
And, of course, those selfish Californians will continue to support and vote for Obama with the hopes that he will give the state a federal bailout.

California, the prime "entitlement/gimme" state is the text book example of how the whole nation is heading under Democrat leadership and this administration.

6 posted on 05/14/2012 3:51:46 AM PDT by CitizenM (Obama - The architect of the decline of the U.S.)
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To: tobyhill

Maybe he should think about cancelling the 100 billion dollar Moonbeam Express train to nowhere.


7 posted on 05/14/2012 4:05:44 AM PDT by Hugin
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To: Doogle
..why isn’t he recalled?

If Brown is recalled, it would be by Democrats to replace him with someone more radical.

8 posted on 05/14/2012 4:07:30 AM PDT by Hugin
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To: Principled
Go for that Hollywood CASH!
Call it the "George Clooney Tax"

9 posted on 05/14/2012 4:08:37 AM PDT by Falcon4.0
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To: AlexW
It is amazing that the land of nuts and fruits, and governed by total idiots and morons, would have the ninth largest economy in the world.

If I am not mistaken, that means that the California economy has actually dropped. It used to be 6th or 7th, back in the 80s. With a few more years of liberal leadership, CA can probably be pushed down a few more notches.

10 posted on 05/14/2012 4:26:16 AM PDT by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: tobyhill

I’m a native Californian(though I’ve lived in The Northeast since 1989).I voted for Prop.13(Jarvis-Gann).I’m PROUD I did!!The ONLY solution to budget-deficits(according to DemonRats)is TAX-HIKES!!They NEVER consider cutting spending??????????????????????


11 posted on 05/14/2012 4:46:11 AM PDT by bandleader
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To: tobyhill

——His weekend announcement of a much bigger-than-expected shortfall-—

Bigger than expected? By who?

The media needs to get out more. FRee-market economists who were expecting this.

And California is hardly hobbled by Prop.13. It’s the spending, you mediots!


12 posted on 05/14/2012 4:46:26 AM PDT by St_Thomas_Aquinas (Viva Christo Rey!)
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To: tobyhill
(Democrat) California Governor Jerry Brown was elected in 2010 on a promise to fix the state's chronic fiscal crisis. His weekend announcement of a much bigger-than-expected shortfall in the state budget signals how far he still has to go.

This shortfall cannot be a surprise to people with common sense. It would be quite a surprise if California, run by Democrats, could actually demonstrate fiscal responsibility. But, as we all know, Democrats just know how to raise taxes, seek bailouts, increase out of state taxes, and forget about a budget. Oh, yes, and blame others including Bush.

I cannot believe that Democrats just do not seem to understand basic economics. The Dems have policies that punish the successful businesses with increased regulations and taxes, and then wonder why they are leaving the state.

13 posted on 05/14/2012 4:52:39 AM PDT by olezip
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To: tobyhill

$16 billion in the hole when will the dems cut useless spending (entitlements).


14 posted on 05/14/2012 5:00:16 AM PDT by Vaduz
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To: tobyhill

Albert eistein’s definition of insanity was doing the same thing over and over again...expecting a different outcome.

Maybe We the People can one day, in a defensive move, assemble a “play legislature”..and “play executive branch” for these fools to spend all day “regulating” and “taxing” to their hearts content..


15 posted on 05/14/2012 6:39:25 AM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: mo

If they’d only tax Hollywood at say 79% or so, there’d be rainbows and skittles for everyone. Sigh. So uptwinkles!

Until Hollywood discovers economics, and moves all operations elsewhere.


16 posted on 05/14/2012 6:45:40 AM PDT by Big Giant Head
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To: exDemMom
It is amazing that the land of nuts and fruits, and governed by total idiots and morons, would have the ninth largest economy in the world.

If I am not mistaken, that means that the California economy has actually dropped. It used to be 6th or 7th, back in the 80s.

What's tragic about this is that those 8 higher than California have also dropped....

If California whould have been at the same rate when No 5 would be much higher today.

17 posted on 05/14/2012 6:54:45 AM PDT by spokeshave (If Obama is Lenin....who are Trotsky and Stalin...?)
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To: tobyhill
Brown pushes tax hike as California's money woes deepen

Yeah, that'll work.

18 posted on 05/14/2012 6:56:48 AM PDT by Jim Noble ("The Germans: At your feet, or at your throat" - Winston Churchill)
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To: tobyhill
Credit analysts will scour details of Brown's revised plan, which could affect their outlooks on the state. Standard & Poor's revised its outlook on California in February to positive from stable, a potential first step to a higher credit rating, which would help ease borrowing costs. At 'A-' - six levels below 'AAA' - California is S&P's lowest-rated U.S. state.

They obviously didn't anticipate an 80% increase in the deficit.

19 posted on 05/14/2012 6:57:14 AM PDT by Timocrat (Ingnorantia non excusat)
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To: olezip

You are right about Democrats >driving hardworking ambitious people out of the State of California through regulations&taxes.

It’s being done on >purpose.

The Democratic politicians want political power; they are NOT really concerned with prosperity for Californians. It’s just typical ‘gangster-government’ where people in power prevent potential opposition.

Solidifying the political base typically entails >driving potential opponents out of a country, state or city. The ‘thugs’ in charge always claim they are doing for the good of the people remaining.

At this moment in history:

1. Republicans generally want to increase their political power by making >everyone wealthy with two running cars in the garage.

2. Democrats generally want to increase their political power by making the >population poorer with 4 or 5 non-running junker-clunkers parked in the front&backyards. No need to have a running-car when you get a “free” bus-pass with the welfare check.


20 posted on 05/14/2012 7:34:59 AM PDT by gghd (A Pro-life Palinista & a member of the NRA)
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To: tobyhill

“Brown pushes tax hike as California’s money woes deepen”

Brown will win tax increases.

California’s “money woes” will not be solved. They will grow worse as the tax base flees and revenues fail to rise. Revenues may even decrease.

Brown will push more tax hikes.

Brown will win more tax increases.

And you know what happens next....


21 posted on 05/14/2012 9:04:35 AM PDT by Road Glide
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To: Principled

I think that as the distance between states with massive public union debt and those who have limited it grows, that the blue states will move to somehow nationalize the debt and obligations.


22 posted on 05/14/2012 10:06:27 AM PDT by ansel12 (Ann Romney, 1994 'We didn't know a single Republican when we jumped in in December,')
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To: ansel12

“...that the blue states will move to somehow nationalize the debt and obligations.”

In that regard, this kind of debt is a power play...by which California can make a demand on South Carolina....

If that don’t trigger CW II....!!!

We’ll need a Constitutional Amendment prohibiting such nonsense..


23 posted on 05/14/2012 10:13:53 AM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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