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CA Tax Revenues Continue to Drop Despite Tax Hikes
#1
It's an economic law of nature.....revenue goes up when taxes go down.
But just like the gun issue, facts are totally ignored.
The only thing that matters is control over the masses. The ONLY thing.

This is what is going to happen nationally and then they will be back for more tax hikes......Circular firing squad.

http://www.breitbart.com/Big-Government/...ease-Taxes

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.

H.D. Palmer, a spokesman for the state's Department of Finance, spun the poor numbers by saying Facebook's stock vested earlier than expected,

But the report found that tax revenues were below estimates nearly across the board, as total "year-to-date revenues are $936 million below the initial forecast."

According to the report, personal income tax revenues were “$827 million below the month’s forecast of $4.387 billion.” Sales and use tax receipts “were $9 million below the month’s forecast of $1.601 billion” and the year-to-date sales tax revenue was $8 million below forecast.

Not surprisingly, corporate tax revenues were also down, $175 million below the month’s estimate and year-to-date corporate tax revenues were $441 below estimate.

As more of California's taxpaying residents and businesses flee the state due to its burdensome taxes and regulations, California's government loses out on their tax dollars. Meanwhile, the state government continues to spend more on various programs even as the state has fewer taxpayers to pick up its tab.
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
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#2
Having visited several times, the Left Coast can be classified as a breeding ground for low-information entitlement kings and queens, lorded over by low-information and low intelligence political types.

Very few of them understand the non-linearity of the relationship between tax rates and tax revenues.

A few with slightly higher intelligence might understand the relationship, but ignore it completely, so as to keep their own personal gravy trains rolling.

Eventually they run out of money. Won't be too much longer for them. We're currently on the same path, but we should be okay, thanks to the guns and the farms.
"Chris Kyle's death seems to confirm that "he who lives by the sword dies by the sword." Treating PTSD at a firing range doesn't make sense."
- some ass-maggot on Twitter
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#3
kunsunoke;57756 Wrote:Having visited several times, the Left Coast can be classified as a breeding ground for low-information entitlement kings and queens, lorded over by low-information and low intelligence political types.

Very few of them understand the non-linearity of the relationship between tax rates and tax revenues.

A few with slightly higher intelligence might understand the relationship, but ignore it completely, so as to keep their own personal gravy trains rolling.

Eventually they run out of money. Won't be too much longer for them. We're currently on the same path, but we should be okay, thanks to the guns and the farms.

Likewise. I was in LA a few years back. I couldn't wait to get back to PA. It was literally weeks for the odor to get out of my nose (no joke-they have mega-air pollution in LA). Common sense departed that region quite a while ago.

The San Andreas fault may fix this situation, tho.
Subject matter expert on questions no one's asking.
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#4
Wait til ya see their next fix..exit taxes. Lol
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
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#5
Maybe they should put armed guards on the highways to prevent those with any money from leaving the state.

No wait. . . that would mean using guns, which they hate. So lets barricade the roads with logs. . . no wait, that would mean cutting down living breathing trees. Ok, so let's use electric fences to. . . damn, that would require burning coal.

Oh screw it. Let's just imprison all the rich people and take their stuff. Now that's social justice!

Big Grin

Pocketprotector;57790 Wrote:Wait til ya see their next fix..exit taxes. Lol

Ha, ha.... I was typing the same thing as you posted! Ah, great minds!
Big Grin
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#6
PA Rifleman;57772 Wrote:Likewise. I was in LA a few years back. I couldn't wait to get back to PA. It was literally weeks for the odor to get out of my nose (no joke-they have mega-air pollution in LA). Common sense departed that region quite a while ago.

Its not just LA, the whole state suffers from that same problem. Sacramento and the south bay (silicon valley) are just as bad if not worse. Bakersfield and Fresno, farm towns, have massive air pollution from both cars and all the agricultural spraying they do.

If you've ever spent any deal of time in CA, you've heard of smog. It is a cloud of car exhaust and other pollution that looks like fog. I lived in the foothills east of Sacramento. When I drove into the city I would come over a ridge with a view down over the valley that should me magnificent. Most days however, you could not see the skyline 20 miles away through the brown air.
The law? The law is a human institution...
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