If you look at my post I congratulated Cali on doing well, how did you miss that as it was in bold and in a different color? I suppose besides being just plain blind to facts one could in addition be also color blind. And I guess you proved you cannot read with comprehension. Well, some naturally do have slower mental processing skills, granted.
Here is my post with further highlighting to give some hints as to where Maher, the comedian, painted a more rosy picture than the reality:
Did you by any chance check to see if Maher, being a paid jokester, was just joking? He is not a reporter or journalist.
I will say congrats to Cali and glad they are doing well. However, how long do you think it will it take the top 1% to get the message and move outta state? Especially if they make the tax, which was supposed to be temporary, more permanent, ... out to 2031?
http://www.cnbc.com/2016/05/26/calif...ture-dims.html
"California's economy is on fire, but the state's finances are facing the cold reality of a revenue slowdown. And experts blame the state's unusual tax system for the problem."
"
Right now, the surging tide of revenue is beginning to turn," Governor Jerry Brown said earlier this month at a press conference announcing
a revised $122.2 billion state budget and potential deficits ahead due to expiring tax increases.
"California has turned around and taken the volatility of the stock market and made it the central component of the revenue system.
There's nothing right about that, because what it means is that we're constantly in either boom or bust."
"The
revenue picture has dimmed a little bit," said Gabriel Petek, a credit analyst for Standard & Poor's Credit Market Services. He
noted that there are only three states with a lower credit rating than California (New Jersey, Illinois and Kentucky). "
"According to state data, the
top 1 percent of Californians account for nearly half of the state's income taxes, which in turn accounts for two thirds of general fund taxes. In recent years, capital gains — taxed in the state like any other income — have represented around 10 percent of California's general fund revenues"
"Last month, Moody's Investors Service conducted a "fiscal stress test" on the nation's
four most populous states and found California's preparedness for a recession "weaker" than the others. It cited the Golden State's highly volatile tech industry and California's reliance on personal income taxes, particularly from top earners"
"
I do think reducing the revenue volatility would be good," the governor said. "Maybe over the next year or two Republicans can join in, and we can come up with something that would make sense. It's not that simple.
There's a reason why we tax the 1 percent. It's because that's a tax people have shown their willingness to vote for."
Notice how even Brown knows it takes Republican inclusion to arrive at some sense?
"Ultimately, Thornberg believes
California would be better served with a Texas-style tax revenue system where there's less reliance on personal income taxes and capital gains tied to the stock market, and more of a focus on property taxes and sales taxes."
I'll give you a few hours to properly digest that.