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Old 03-14-2012, 08:06 AM
 
Location: Orange County, CA
3,727 posts, read 6,223,758 times
Reputation: 4257

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California's downward financial spiral continues to worsen. State Controller John Chaing reported that compared to last year, tax revenue in February declined by a staggering 22% As more businesses and productive citizens leave the state because of high taxes and an extremely hostile business climate, Governor Jerry Brown and his Democratic Party associates solution to the problem is---more taxes! If approved, higher taxes will of course increase the exodus from the state, thus decreasing revenue even more, but our supposed leaders have been unable to grasp this very basic economic principle.

www.breitbart.com/Big-Government/2012/03/13/exodus-california-tax-revenue-plunges-by-22
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Old 03-14-2012, 10:22 AM
 
11,715 posts, read 40,451,929 times
Reputation: 7586
But I thought higher taxes were supposed to save the state.
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Old 03-14-2012, 11:16 AM
 
Location: Paranoid State
13,044 posts, read 13,867,365 times
Reputation: 15839
Once Facebook goes public, it is estimated that Mark Zuckerberg's personal federal tax liability will be between $2.0 Billion and $2.5 Billion. You can estimate California's take pretty easily.
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Old 03-14-2012, 11:27 AM
 
11,715 posts, read 40,451,929 times
Reputation: 7586
Quote:
Originally Posted by SportyandMisty View Post
Once Facebook goes public, it is estimated that Mark Zuckerberg's personal federal tax liability will be between $2.0 Billion and $2.5 Billion. You can estimate California's take pretty easily.
And the state will celebrate, spend it all, and cry poor again.
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Old 03-14-2012, 11:37 AM
 
Location: Paranoid State
13,044 posts, read 13,867,365 times
Reputation: 15839
According to the Sacramento Bee, about 1/3 of taxpayers earning $500,000 per year or more have moved out of California during 2007-2010.
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Old 03-14-2012, 11:40 AM
 
12,823 posts, read 24,402,599 times
Reputation: 11042
Quote:
Originally Posted by SportyandMisty View Post
According to the Sacramento Bee, about 1/3 of taxpayers earning $500,000 per year or more have moved out of California during 2007-2010.
Some of them were foreign expats, who were running start ups and small businesses. Now, they've gone back to their home countries, taking their businesses and spending with them. I know people in this category.
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Old 03-14-2012, 04:49 PM
 
Location: Yucaipa, California
9,894 posts, read 22,025,302 times
Reputation: 6853
Brown & the majority democratic legislature is leading us down the road to more deficit & its only going to get worse.
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Old 03-14-2012, 05:11 PM
 
25,619 posts, read 36,701,448 times
Reputation: 23295
I so enjoy the primrose paths this time of year. The ones planted in Sacramento are especially vivid.
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Old 03-14-2012, 05:20 PM
 
Location: San Diego
50,289 posts, read 47,043,365 times
Reputation: 34070
What was that expletive? "I'm not responsible for this plane going down!"
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Old 03-14-2012, 05:30 PM
 
Location: SW MO
23,593 posts, read 37,479,020 times
Reputation: 29337
Be assured, for every additional dollar the state takes in, the Legislature will spend $1.50.
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