1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

California has a staggering

Discussion in 'BBS Hangout: Debate & Discussion' started by jiggyfly, May 11, 2021.

  1. jiggyfly

    jiggyfly Member
    Supporting Member

    Joined:
    Jul 2, 2015
    Messages:
    12,755
    Likes Received:
    10,703
    $75.7B budget surplus

    https://www.politico.com/states/cal...-has-a-staggering-757b-budget-surplus-1381195

    @tinman

    SACRAMENTO — California expects a staggering $75.7 billion surplus despite a year of pandemic closures — an amount that surpasses most states' annual spending and prompted Gov. Gavin Newsom on Monday to propose sending cash back to residents as he faces a recall election.

    California's coffers are bulging thanks to the high-flying Silicon Valley, surging stock market and a large share of professionals who were able to continue working remotely during Covid-19. The state has a progressive income tax structure that leans heavily on top earners, allowing the state to enjoy record revenues despite widespread job losses in the travel and service industries that have kept California's unemployment rate among the nation's highest.

    The Democratic governor provided the surplus figure Monday as he proposed $600 checks for middle-income residents along with $500 payments to families with dependents. California in February enacted an initial round of payments for its lowest-income residents, supplementing two rounds of similar checks from the federal government. All told, the state would give back nearly $12 billion this year if state lawmakers approve Newsom's plan.
     
    FranchiseBlade likes this.
  2. Rashmon

    Rashmon Contributing Member

    Joined:
    Jun 2, 2000
    Messages:
    16,827
    Likes Received:
    9,546
    But, but, but how will they get their checks if they're all moving to Texas?
     
  3. B-Bob

    B-Bob my celli weighs a ton
    Supporting Member

    Joined:
    Jul 26, 2002
    Messages:
    30,844
    Likes Received:
    24,622
    They won't.

    [​IMG]

    More for me and Mrs. B-Bob. Heh.
     
  4. Andre0087

    Andre0087 Member

    Joined:
    Jan 16, 2012
    Messages:
    4,767
    Likes Received:
    6,461
    They should throw that in a fund to help alleviate their wildfire and power issues...
     
  5. pgabriel

    pgabriel Educated Negro
    Supporting Member

    Joined:
    Dec 6, 2002
    Messages:
    40,698
    Likes Received:
    2,210
    Not surprising. They have to have the highest tax base in the nation. Good for them they can provide services that allow non high earners to live there

    Texas may not have a surplus but doesn't have the tax burden and Texas's finances works for Texas
     
    Ubiquitin likes this.
  6. Agent94

    Agent94 Member

    Joined:
    Jun 28, 2002
    Messages:
    1,733
    Likes Received:
    851
    Typical short term thinking. About to lose your job? Buy some votes. Don't consider ways that money could work both now and in the future.
     
    Ubiquitin, Nook, glynch and 2 others like this.
  7. KingCheetah

    KingCheetah Contributing Member

    Joined:
    Jun 3, 2002
    Messages:
    47,476
    Likes Received:
    32,642
    California has a staggering... history of earthquakes.
     
    FranchiseBlade and jiggyfly like this.
  8. Invisible Fan

    Invisible Fan Insider Newsletter™ 2X Diamond Member

    Joined:
    Dec 5, 2001
    Messages:
    35,264
    Likes Received:
    16,194
    They suck the rich dry and pump it back to the peoples.

    Elon faints. @tinman

    Real estate to the Moon though
     
    Ubiquitin likes this.
  9. B-Bob

    B-Bob my celli weighs a ton
    Supporting Member

    Joined:
    Jul 26, 2002
    Messages:
    30,844
    Likes Received:
    24,622
    There is a pretty robust rainy-day fund that the last governor set up though. Good budgeting practice.
     
    FranchiseBlade likes this.
  10. Rashmon

    Rashmon Contributing Member

    Joined:
    Jun 2, 2000
    Messages:
    16,827
    Likes Received:
    9,546
     
    AkeemTheDreem86 and Deckard like this.
  11. Ubiquitin

    Ubiquitin Contributing Member
    Supporting Member

    Joined:
    Jul 7, 2001
    Messages:
    12,465
    Likes Received:
    5,716
    I got my peaches out in Georgia (Oh, yeah, ****)
    I get my Porn from California (That's that ****)
     
  12. Os Trigonum

    Os Trigonum Houston Knicks fan
    Supporting Member

    Joined:
    May 2, 2014
    Messages:
    42,343
    Likes Received:
    60,174
    "The Pointless, Meddling State-and-Local Bailout":

    https://www.nationalreview.com/2021/05/the-pointless-meddling-state-and-local-bailout/

    excerpt:

    California’s state government has announced a budget surplus of more than $75 billion, thanks in large part to a strong stock market.

    California’s state government is set to receive about $27 billion in direct federal aid from the American Rescue Plan, a figure that does not include help targeted to schools, transportation, and local governments in the state.

    ***
    This policy was a mistake. It provides money to state and local governments far in excess of what they lost during the pandemic; it throws boatloads of cash at some states, such as California, that don’t need help at all; and it meddles in tax decisions that states themselves should make. It’s too late to pull back now — Treasury began sending out the money this week — but this disaster illustrates what the Biden Democrats stand for: big spending that is poorly targeted and accompanied by massive federal intrusion.
    more at the link
     
  13. B-Bob

    B-Bob my celli weighs a ton
    Supporting Member

    Joined:
    Jul 26, 2002
    Messages:
    30,844
    Likes Received:
    24,622
    MOAR.
    [arnold voice] Codifornia Defies Doom With Numba Wahn US Ecodomy [/arnold voice]

    Excerpt:
    "By adding 1.3 million people to its non-farm payrolls since April last year -- equal to the entire workforce of Nevada -- California easily surpassed also-rans Texas and New York. At the same time, California household income increased $164 billion, almost as much as Texas, Florida and Pennsylvania combined, according to data compiled by Bloomberg. No wonder California's operating budget surplus, fueled by its surging economy and capital gains taxes, swelled to a record $75 billion."

    https://www.sfgate.com/opinion/article/California-defies-doom-with-No-1-U-S-economy-16246133.php
    (via Bloomberg news)
     
  14. Buck Turgidson

    Buck Turgidson Mineshaft Enthusiast

    Joined:
    Feb 14, 2002
    Messages:
    58,789
    Likes Received:
    46,242
    Not sure how anyone can say this with a straight face.
     
  15. pgabriel

    pgabriel Educated Negro
    Supporting Member

    Joined:
    Dec 6, 2002
    Messages:
    40,698
    Likes Received:
    2,210
    Its hard to respond to comments like. If you want to just peanut gallery and not discuss put me on ignore. You are wasting precious God given gift of time
     
  16. adoo

    adoo Member

    Joined:
    Mar 1, 2003
    Messages:
    6,257
    Likes Received:
    3,272
    such intellectual dishonesty.

    Calif needs the funds for these projects
    • forest fire prevention
    • bullet train
    • fixing freeways / roads, as well as the state-wide aquaduct system
    • dismantling of the un-used nuclear generating station in San Onofre
    • job training programs
    • other infrastructure projects which had been on hold, such as the Great Park
     
  17. Os Trigonum

    Os Trigonum Houston Knicks fan
    Supporting Member

    Joined:
    May 2, 2014
    Messages:
    42,343
    Likes Received:
    60,174
    if you disagree, disagree. "intellectual dishonesty," I think not
     
  18. Buck Turgidson

    Buck Turgidson Mineshaft Enthusiast

    Joined:
    Feb 14, 2002
    Messages:
    58,789
    Likes Received:
    46,242
    Well, you could start by looking at healthcare, the schools, infrastructure and social welfare in Texas and then get back to us and explain how Texas' finances are working for Texans.
     
    FranchiseBlade likes this.
  19. rockbox

    rockbox Contributing Member

    Joined:
    Jul 28, 2000
    Messages:
    18,347
    Likes Received:
    5,742
    Surpluses are only slightly better than deficits, and it just means you taxed your citizens way too much or didn't do enough for your citizens. In California's case, its a lot of both. California is a prime example of government inefficiency. High taxes, too much government overreach, and poor services.
     
    DonatelloLimestone likes this.
  20. adoo

    adoo Member

    Joined:
    Mar 1, 2003
    Messages:
    6,257
    Likes Received:
    3,272
    a vivid eg of intellectual dishonesty,

    a close second would be

    willful ignorance on the part of that half-azzed so-called op-ed writers​
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now