And these high-earners tend to be people who actually produce output and jobs, like professionals, tech executives, and business owners. The multi-millionaires the Left likes to pretend to target pay very little income tax because they don't have earned income - and when they do, they know how to report it in Florida or Nevada rather than California.
Not having physical money will be a disaster. Everything will be fine with electronic cash up until it’s not. You can have millions in the system but.... Power goes out, you can’t buy. The server is down, you can’t buy. You complain about the wrong thing, you can’t buy. Every transaction would be recorded. Eat too much ice cream, you can’t buy because the health insurance board says so. Your car uses too much gas, you are shut off. No good will come of this.
Buy a printing press and issue Blue Backs.
Have you noticed we haven’t heard a peep out of Chicago? Wonder how they are going to handle the lack of income with all of the cushy jobs and retirements they used to buy votes with.
AHA!
This is why nasty Nazi Nancy's nephew Newsom keeps referring to California as "The Nation-State of California"!
Actually, it is perfectly LEGAL for American states, and any banks, and even private individuals to print their OWN money. One just cannot counterfeit United States currency. The PROBLEM would be getting people to ACCEPT California’s shakey currency.
Those of you outside will see this jackass soon. He is Pelosi’s nephew and WILL be running for the presidency. Everything he does is strong arm. He has referred to himself on more than one occasion as the Tsar. He seeks absolute power over everything.
Every corner of this country will.have to grapple with this.
With the shutdown of economic activity, sales tax revenue, state income tax revenue, and gas tax revenue everywhere, is cratering.
Can you imagine a trillion dollar bailout from Washington, to bail out all 50 states and numerous big cities? This could be on the horizon.
Thus us news to Albany.
Folks should see NYS’s new budget...
I predict that states will, to the extent possible, issue bonds to get the cash to balalnce their budgets.
How these bond issues are received in the financial marekts is another story. But it will be politically difficult to impose big tax increases. So the path of least resistance will.be to sell bonds, and kick the can down the road.
They can print money. They cannot mint coins.
Just sayin’.
Confusing headline. States are constitutionally forbidden from printing currency.
this is not a bad thing.....however in my state without a state income tax the rat governor and his fellow rats have wanted a state income tax for decades....
I wish Governor Newsom would do something so all these Californians would quit coming to TX.
Maybe that’s the plan, and y’all don’t understand...
CA has balanced their budget before using "accounting tricks" and shady transfers between accounts - they didn't cut spending, didn't increase taxes, didn't print any money. It can be done, because they've done it already.
yes and no.
in the last Great Depression, Californicators figured out how to make money when they needed it:
so we are sure they’ll figure it out again with this new mandated Depression. After all, the clams are still there..
The size and scope of California’s governmental expenditures is not sustainable.
The price of coddling to illegals unions liberals gays bites you in the a$$ now you whine about California leadership stupidity.
No doubt about your in aunt Nancy’s blood line.
States printed their own money during the depression.
What about mining money on your computer?