California Taxes Its Way to Prosperity!
January 4th, 2013 - 11:02 am
Or perhaps not:
On Tuesday, California released a report that revealed state tax revenues have plummeted even further below Gov. Jerry Brown’s (D) estimates, even after residents voted to increase taxes via Proposition 30 in November’s elections.
At the end of November, “taxes were 3% short in the fiscal year that started in July,” which is “a gap of $936 million.” The state was 0.7% short a month before.
California voters are getting the government they demanded — good and hard.
I hate this state. And I did not vote for this (most everyone else did).
California, Illinois, and New York are dragging the rest of the US down into a black hole.
I didn’t vote for it either – I live in a red state, I voted for Newt in the primaries and Mitt in the general.
So how do we escape from this enslavement?
Proving once again that higher tax rates do not mean higher tax revenues. Democrats refuse to accept this proven fact.
You would think with their love for government money that they would wish to increase revenues as much as possible, but it is not really about money. It is about the political power that comes from class warfare. Divide et impera. Divde and conquer.
Or, perhaps, we are watching a practical example of the old wisdom “never underestimate the awesome power of large groups of stupid people.”
It’s not about raising revenue, it’s about eating the rich. Which the rich are supposed to allow.
I do remember reading about an interview with Obama, where it was pointed out to him that an increase in capitol gains tax would likely lead to a decrease in revenue, and he flat out stated that he didn’t care, because it was about “fairness”, not revenue.
Along the same lines, several Democrat CA legislators, when told that the laws they enacted are driving businesses away, have publicly stated that they want those businesses to leave, since most of their owners vote Republican.
Too many people are noticing that The Ten goes all the way to San Antonio, famous for that Rose. And zero state income tax.
The problem (according to many people north of me in NH) is the people fleeing high tax states bring their affection for big government & taxes with them and begin the process anew. There is no escape.
So true, they have ruined Oregon and Colorado, but Bob Wills is still the King in Texas. Black preachers, aging cowgirls and their daughters, have built a strong Tea Party down there, even if they do talk funnt (by Okla. standards).
I hate to bust your bubble, JFP, but when I considered heading north to Vermont-achusetts some years back I discovered that even without a state income tax my total taxation would be pretty similar. Your local property tax rates are simply explosive compared to what we Massholes face here thanks to Prop 2 1/2.
1. JFP: “people north of me in NH”. So what makes you write, “Your local property tax rates” as if he were in NH? Clearly, he is not.
2. Total tax rates in NH are far lower than they are in MA, I pay less property tax for a nicer house than my friends there do; unless you’re at the bottom end of the income spectrum, or choose a very high tax town, you will always do better in NH. (BTW, Prop 2 1/2 limits property tax rates to 25 mills. Few towns in NH have higher rates than that – and property values are generally lower here than in MA.
The People’s Republic of California loves equality, the connected elites who can hide behind tax loopholes and enjoy tax credits are more equal. The govt bureaucrats who make hundreds of thousands a year and enjoy guaranteed employments and pensions pushing papers are more equal.
The “well educated” middle class rubes aspire to become the elites do what the elites want them to do and despise those who are in less exalted positions to voice different opinions. They are proud to raise their own taxes to create a utopia of “equality”.
Could we give LA to Mexico? Would that help?
I was born and raised in the Golden State – Orange County, one of the few conservative holdouts there – and moved to the East Coast after college. My mom still lives in the house where I grew up and I have friends and family nearby. I love the natural gifts that the whole state has to offer – the ocean, the mountains, the deserts, the forests (our family vacations were often at Sequoia National Park), the incredibly fertile agricultural areas – we go out every Thanksgiving and my East Coast-raised husband marvels at how beautiful it is. It breaks my heart when I see what is happening to this amazing place.
We are contemplating retirement in the next few years – hubby a few years before me – and we would love to move out there. But when I read about the “train to nowhere”, the ridiculous job-killing regulations and the kind of head-in-the-sand politics that plays out time and time again….unless they get their act together it won’t happen.
Unfortunately, California is betting that Washington DC will bail them out after they run the state into the ground. Given the past track record of our dear leaders, I’m sure that all the rest of us will pay for it.
um, have the new taxes taken effect yet?
I have no doubt they will fail, and yet I sort of doubt they have failed already.
Also, recent reports are that California job creation has suddenly spiked, yes upwards. I cannot imagine why and tend not to believe it, but it would be at odds with a report of immediately plummeting revenues.
Yes, the new taxes went into effect immediately — and retroactively. There will be a spike in revenue in April, as taxpayers are forced to pony up on income they thought they’d already paid the taxes on.
Cute trick, eh?
Cute indeed.
Like most Californians of either stripe, at this point I just try not to look.
There’s really no doubt about the endpoint, just the minute and second we hit it.
It’s always sad when a dream dies.
Move?
“California voters are getting the government they demanded — good and hard.”
And no kiss goodnight.
I remember when this was The Golden State. No longer, not for a very long time. I am looking for a new start somewhere else. Maybe Texas, maybe Arizona.
I know there are a handful of people who think the state can be turned around, but I honestly believe it’s too late. In five years, we won’t even recognize this state.
Just check your Californicated ideas at the state line. Those of us in other Western states have had quite enough of expatriate Californians moving to our states and trying to Californicate us.
HoooooooBOY! Am I ever glad I left Californicate when I did 7 years ago. Moved to a mostly rural REPUBLICAN/CONSERVATIVE state. Now I have to put up with snow every winter, but they have a mostly balanced state budget and our taxes and living expenses are less than half of what they were in California.
Too bad too because it WAS a beautiful place to live, nice weather, and you could drive to any kind of activity you wanted within a couple of hours. You can still do that but you have to pass through some pretty nasty areas just to get there now.