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Why not? Doesn't California realize tax revenue from capital gains? I think so...
California Watches Projected Tax Revenues From Facebook IPO Sink With Stock Price - AllFacebook
But in reflection I hope their projections work out as predicted.
Because the projection the poster linked to was not a projection of tax revenue from all capital gains. It was a projection of the revenues from the sales of FB stock in the FB IPO
Your link is BS. It refers to a projection by the Legislative Analyst’s Office, which has no authority on the budget. Furthermore, they did not claim that the share price would be $45. They merely calculated what the revenues would be *IF* the share price went that high
Paying so much attention to some internet blog for financial information doesn't make one knowledgeable
Thanks for missing my point...carry on!...:lamo
Wyatt Buchanan
Updated 12:04 pm, Thursday, January 10, 2013
Looks like the Golden States showing us the way doesn't it?
<For the first time in five years, California is not facing a deficit as Gov. Jerry Brown and lawmakers work to put together a spending plan for the next fiscal year.Brown released his budget Thursday morning for the 2013-2014 fiscal year, proposing a $97.7 billion plan that is 5 percent higher than the current year's spending.>
<The budget represents a massive change for California's finances, which at their worst in February 2009 faced a $42 billion deficit. That resulted in emergency action on the budget as the state treasurer was unable to sell short term bonds, construction projects came to a halt and the controller was forced to send out IOUs instead of tax return checks.>
Read more: Jerry Brown: California's deficit is gone - SFGate
One thing that is interesting, is that when California is doing badly, then the left finds all kind of excuses, but when California does well then it is an example to follow for the rest of the country.Looks like the Golden States showing us the way doesn't it?
One thing that is interesting, is that when California is doing badly, then the left finds all kind of excuses, but when California does well then it is an example to follow for the rest of the country.
I don't know what estimates his budgets are based upon, but I believe he is overestimating revenue and underestimating costs. That is what they are doing in Europe every single year. Often they are built on GDP predictions that will never happen. These are the Bureau of Economic Analysis estimations for California's GDP per capita. My guess is that Browns estimations are even higher.
No, it fricking doesn't. Let me give you the numbers.Given that much of this data is historical, and it projects into the future at the same trajectory as the past, I am not sure what specific criticism you are leveling ...
2000 | -1.32 |
2001 | 0.80 |
2002 | 2.02 |
2003 | 3.68 |
2004 | 2.81 |
2005 | 2.66 |
2006 | 0.36 |
2007 | -1.07 |
2008 | -5.34 |
2009 | 1.04 |
2010 | 0.78 |
2011 | 1.23 |
2012 | 1.88 |
2013 | 2.07 |
2014 | 2.71 |
2015 | 3.13 |
2016 | 2.88 |
No, it fricking doesn't. Let me give you the numbers.
-1.31
0.807
2.02
3.68
2.81
2.66
0.36
-1.07
-5.34
1.03
0.78
1.23
1.87
2.07
2.71
3.13
2.88
The ones in bold are projections, and the only time we saw similar growth was during the housing/financial bubble. Expecting similar growth to the bubble period with no stagnation periods is ridiculous.
You can find the evidence in your quote.Please give evidence that "the only time we saw similar growth was during the housing/financial bubble".
You can find the evidence in your quote.
Oh for god's sake, how incredibly ignorant. You would have to have given many more years to try and claim that the only time such growth had occurred was during the bubble.
I was talking about the graph. The graph only goes to 2000.
Before 2000 is not interesting as US was in a completely different situation. Would you predict Japan to have high growth now, because they had high growth in the 80s?
Probably there are people in this room still mad at me at that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too. - Bill Clinton
WTF has facebook shares got to do with a CA budget?:2rofll:
You haven’t been following the thread?Ask moonbeam; they budgeted for a huge tax windfall from facebook stock sales last year - FAIL.
Ask moonbeam; they budgeted for a huge tax windfall from facebook stock sales last year - FAIL.
So Californai is on the road to recovery. How many years will it take the State to eliminate its debt of $34 Billion? Like the US, California has run up a huge debt.
CA Gov. Jerry Brown state budget deficit disappears but debt remains - Silicon Valley Business Journal
"California Governor Jerry Brown on Thursday morning declared that the state will have an $851 million budget surplus by the end of the 2013-2014 fiscal year if state legislators approve his proposed budget.....
The state still has more than $34 billion in outstanding debts."
The median number in regards to growth following WWII is 3.25%. None of your numbers so much as touch that figure.The ones in bold are projections, and the only time we saw similar growth was during the housing/financial bubble. Expecting similar growth to the bubble period with no stagnation periods is ridiculous.
With the ridiculous taxes and other assorted "fees" in California, how the hell do they not have a huge surplus every year? If they do go one year with a surplus (or even just simply a balanced budget), that hardly makes them a model for any state to follow, unless you're stupid.
Every state balances their budgets.
The revenue from FB's IPO met the projections
IOW, the only FAIL is in your post
Every state balances their budgets.
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