ocean515
DP Veteran
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- Jan 26, 2013
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Yeah, you may want to read those articles before you post them. 1st one is over a year old and is titled: California's Boom Is Poised To Go Bust.. It hasn't gone 'bust' yet so they are admitting the economy is booming.
The 2nd says this: California, with 2 percent job growth in 2016, gained jobs more rapidly than most states. The growth rate was about equal to Texas and Colorado, but behind such growth centers as Florida, Nevada, Oregon, Washington, Utah and the District of Columbia.
2% is NOT end of the world like Cons try to make it out to be.. 1st article from 216 says there's a bust coming, but the 2nd says 2016 was 2% growth, which is very good. Cali. has something like the 6th-7th largest economy in the world. Stop making it out to be some 3rd world hell hole.
LOL
I've read the articles many times. You should read them once, so at least when you try to dismiss the facts presented, you could appear like you possessed some knowledge on the subject.
California will be the example to the Nation of what happens when unfettered, and unchecked extreme Socialist Progressive agenda's and policies are allowed to be enacted.
Here's some more information for you to ignore.
https://www.forbes.com/sites/patrickgleason/2016/07/26/camyth/#648077017113
Those bragging about the fact that California’s budget is back in the black would be wise to curb their enthusiasm, given the state’s notoriously volatile revenue collections that are marked by steep peaks and valleys. When times are good or relatively good economically, state coffers are flush. Yet California’s reliance on high income individuals and households, and capital gains income in particular, means that changes in the economy and stock market cause state revenue collections to drastically fluctuate. This over-reliance on high income taxpayers makes revenues less stable and budgeting more difficult.
Nearly half - 48% - of total California income tax collections are paid by the top 1% of earners. The pitfalls of a state having such an over-reliance on high earners was on display earlier this year in New Jersey. When billionaire hedge fund manager David Tepper announced he was moving from the Garden State to Florida, New Jersey budget officials warned that his departure would create budget uncertainty for the state.
Nearly half - 48% - of total California income tax collections are paid by the top 1% of earners. The pitfalls of a state having such an over-reliance on high earners was on display earlier this year in New Jersey. When billionaire hedge fund manager David Tepper announced he was moving from the Garden State to Florida, New Jersey budget officials warned that his departure would create budget uncertainty for the state.
And from those previous links:
The Fiscal Crisis
California’s “comeback” has been bolstered by assertions that the state has returned fiscal health. True, California’s short-term budgetary issues have been somewhat relieved, largely due to soaring capital gains from the tech and high end real estate booms; just 5,745 taxpayers earning $5 million or more generated more than $10 billion of income taxes in 2013, or about 19% of the state’s total, according to state officials.
California’s “comeback” has been bolstered by assertions that the state has returned fiscal health. True, California’s short-term budgetary issues have been somewhat relieved, largely due to soaring capital gains from the tech and high end real estate booms; just 5,745 taxpayers earning $5 million or more generated more than $10 billion of income taxes in 2013, or about 19% of the state’s total, according to state officials.
So California depends on Capital gains from 5,745 taxpayers to keep afloat? What happens when those 5,700 people don't have any Capital Gains to report?
Ignorance is bliss, and some appear almost catatonic in their bliss.
Hawaii is following the model, and will pay the consequences.