Posted on 01/16/2019 6:13:26 AM PST by artichokegrower
Probably not. I doubt the Dems can find that many votes. Remember, most of the Congressional Democrat’s don’t live in California and Pander Claus needs that money to buy votes in their district.
Do you mean NYC?
Check out that public pension chart I posted the link to above. Finding the votes will not be a problem, God help us.
Bump
Bump
Easy peasy. Just tax Hollywood entertainment businesses and residents of Beverly Hills at 70%.
More and more people are leaving California by the hour.
On KABC radio this morning they had a rep for the teachers union who when told that if the city gives in to the 5 billion dollar demands from the union that they would be in debt right away. The rep said that they would accept 900 million + and it would be settled. (so push the crisis down the road a few years).
She also wanted the commercial properties to be taxed much higher and prop 13 gone as she said that all the other taxes were higher as a result.
1 of 4 dollars is now spent on pensions and will be higher in a few years.
Rich Californians are now deciding to move and-or retire.
Its going to get much worse.
My kid brother (Age 67) is one of those. Retired at 57 after 30 years with CALTRANS, lives in Newport Beach, thinks California is the center of the universe and anyone who lives anywhere else is stupid. He thinks I am insane because I live in Alaska.
I don't think he quite understands that Alaska has ZERO state taxes on individuals, and the PFD is beyond his comprehension.
My son is getting ready to move his company from Mountain View, CA to Reno, NV. The new numbers are crazy and have convinced him that he cannot afford to stay in California. Add the Quality of Life issues in a family friendly city makes it a no brainer.
Let me guess, the rainy day fund is off limits... except for pet projects of the elitists.
As the old submariner oft said.. Stand By to Dive.. DIVE!! DIVE!! and as all too many have already said here,, FLEE!! FLEE!!
The article speculates, for example:
With California's top 1% of income-earners who make over $500,000 a year paying over half of all state taxes, a portion of the grim tax collection shortfall could have been due to mail delays for filing December quarterly estimated income tax payments.
So... Is that different from the last few years (should not be too hard for the writer to check), and, if so, why? (deeper investigation possibly needed.)
The article continues:
But December 2018 sales tax receipts of $1.16 billion also missed budget by $1.42 billion, and...
Forget the "and" (a "relatively" [my word] small drop in corporate tax receipts), the above means that sales tax receipts for December "missed budget" by 55%! Either the 1.42 billion figure is a typo, or the budget figure is pure BS, or there is some sort of major error in the data, or CA's retail economy has tanked in colossal fashion, with serious implications for the rest of the US.
???
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