Spend it! Spend it! You know you can, California!
There can be only one logical conclusion; Raise taxes.
Build high speed rail? Free gay weddings for everybody? New “Rainbow Edition” Boy Scout handbooks?
Since when do tax increases actually yield the quantity of money they are projected to bring in?
That old saying about not counting the chickens before they hatch comes to mind. I'm betting the projected revenue never materializes.
B/S.
“...Unexpected surplus...”, “...Good fortune...”
These clowns really do think that money just appears out of nowhere.
At best, they guess you print it up willy-nilly and it’s the fault of meanies that just want to hog it all. And the only way to get is to tax “the rich.”
is this their yearly deficit? from The Washington Times April 1 2013A financial report issued by state auditors finds that the state of California is in the red by an unsustainable $127.2 billion.
The report says that the state’s negative status increased that year, largely because it spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion in fiscal year 2011-2012, the Sacramento Bee stated.
There is NO surplus money, if debts are still owed. There might be extra money coming in, but that is not a surplus in this situation.
It is what comes of years of the press and politicians working to conflate "debt" and "deficit" in public mind.
Along the same line is balanced budget. Either a budget balances, i.e. assets = liabilities, or there else there is either an error or criminal activity. A budget is balanced whether it shows a deficit, surplus, or parity.
It was not long ago that California was facing a $24 billion deficit. That was a big problem. People might be opposed to the way Brown solved that giant problem but there is no denying he solved it.
As for any surplus, it should go to fund pensions to get that monster under control...right after pension reform is enacted to stop the double and triple dipping and government official retiring with $150,000 to $200,000 a year plus medical for life.
I don’t buy this for one second.
NY has started ad campaigns, from Buffalo, no less.
If California had money they could start with paying back the hospitals for the medical bills their beloved Illegals racked up instead of expecting its citizens to pay along with their insurers.
But Cali has no more money than NY.
If there really is a surplus, they should give taxpayers a REBATE, like they used to do in the before time.
I suppose returning it to the taxpayers is out of the question?
Projected based on rosy estimates of no more businesses leaving, no more sane citizens getting displaced by illegales, etc.?
This is so not true.
1. IIRC, many folks sold issues at a profit, before cap gains tax increased. So there are some time-limited proceeds from this.
2. Higher tax rates on millionaires brought in more money, only because it takes a while for the 1 percenters to sell and move.
3. and I think I read that the chinese are buying property here in the once-golden state (please correct if I'm in error), so there is a stimulatory effect from that.
.
I have an idea, pay some of your bills.
I don’t believe any of this BS anyways.
How’s that pension problem going CA?