Truthmatters
Diamond Member
- May 10, 2007
- 80,182
- 2,272
- 1,283
- Banned
- #141
he gutted infrastracuture projects you asshole
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Economy of California - Wikipedia, the free encyclopediaInstitutional Causes of California's Budget Problem
Abstract:
Since the early 1990s, California has experienced a recurring budget crisis. This article examines the combined budgets of state and local government and the institutions for creating these budgets to ascertain the source of the problem. The facts are that the state collects more taxes and fees as a percent of income than most other states, but local government has lower revenues in California. Total revenues to all governments as a percentage of income are very near the national average. On the expenditure side, the state spends less than the average for other states, but local governments spend much more. High local expenditures are financed by revenue transfers from the state that account for about 40 percent of the states budget. The cause of Californias unusual fiscal relationship is decades of initiatives that more severely constrain local revenues than state revenues. The state has responded by creating a system of state-local transfers that allow local governments to face a form of soft budget constraint, leading to excess local spending and lack of clear accountability for the states recurring fiscal crisis. Because the cause is the cumulative effect of numerous state-wide initiatives, the only plausible cure is initiative reform and revision of numerous initiatives, which most likely can be accomplished only through a state constitutional convention. All other pending reforms are at best palliatives, and many would make the fiscal situation worse.
i.e Prop 13 is the cause of all this.
Bullshit.
The cause of all of this, as everyone but you sees, is that CA is filled with public sector unions demanding and getting outsize wage and benefits packages. This increases budget demands, leading to higher taxes. Couple that with the fruit n nut mandates on everything the state produces and the result is high productivity workers and companies fleeing the state, reducing tax revenues.
"Q.Why a state bank?
A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"
2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?
State Bank for California
he gutted infrastracuture projects you asshole
he gutted infrastracuture projects you asshole
no shit fuckhead read what posted.....howard Jarvis is NOT a dem
"Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base."Q.Why a state bank?
A. It’s time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"
2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?
State Bank for California
When it goes broke, you clean it up
"Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base."Q.Why a state bank?
A. Its time for new solutions that are both tried-and-true and innovative. Our state is wealthy in both natural and human resources. There is no reason we should be begging Wall Street bankers for credit and investments. California has hit the wall relying on Wall Street!"
2% mortgages?
Credit cards capped at 6%?
Billion$ in tax revenues that will NOT be going to Wall Street?
Why not?
State Bank for California
When it goes broke, you clean it up
"What it needs is a new source of revenue, something that wont squeeze consumers, homeowners, or local business.
"A state-owned bank can provide that opportunity. North Dakota, the one state that currently has its own bank, is the only state to be in continuous budget surplus since the banking crisis began.
"North Dakotas balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million and is debating further cuts.
"It also has the lowest unemployment rate, lowest foreclosure rate and lowest credit card default rate in the country, and it hasnt had a bank failure in at least the last decade."
North Dakota began doing business as the State Bank of North Dakota in 1919.
What makes you think California can't do at least as well?
CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG
Illegals aren't the problem."Meanwhile, (California) is struggling to meet its budget with a vastly shrunken tax base.When it goes broke, you clean it up
"What it needs is a new source of revenue, something that wont squeeze consumers, homeowners, or local business.
"A state-owned bank can provide that opportunity. North Dakota, the one state that currently has its own bank, is the only state to be in continuous budget surplus since the banking crisis began.
"North Dakotas balance sheet is so strong that it recently reduced individual income taxes and property taxes by a combined $400 million and is debating further cuts.
"It also has the lowest unemployment rate, lowest foreclosure rate and lowest credit card default rate in the country, and it hasnt had a bank failure in at least the last decade."
North Dakota began doing business as the State Bank of North Dakota in 1919.
What makes you think California can't do at least as well?
CALIFORNIA LEGISLATURE PASSES BILL TO STUDY STATE-OWNED BANK « WEB OF DEBT BLOG
CA is too fucked up to have its own bank.
The Illegals need to move back to Mexico and the CA Progressives need to move to France, then, maybe in 10 years CA can THINK about having its own bank
see what happens when you let republicans run the country.
Tax revenues disappear along with any stability in the economy to produce more revenue.
They seem to forget that ARNIE presided over the building of this mess.
Arnie was no republican sweet cheeks. Remember he was married to a Kennedy.