The had rapidly increasing tax revenue, then things get a little dicey and they are broke. No rainy day fund, they still were over spending and not saving?
Fire them all.
California, like Washington in the 80’s, spent the ever increasing tax revenues even faster than they came in. Their debt actually rose and now there is no money..
April 4th, 2010 at 3:27 pm
Your money is going to fund illegal aliens.
Do they ever even say, "Thank you?"
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April 4th, 2010 at 4:01 pm
California, like Washington in the 80’s, spent the ever increasing tax revenues even faster than they came in. Their debt actually rose and now there is no money..
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April 4th, 2010 at 4:39 pm
That’s government for you. If you have it, spend it. They tell us to save, yet they never do it themselves.
The thing is they don’t want to cut programs and they want to add new programs. If you want to add new programs you are going to have to find old programs to cut to pay for the new programs.
And then when they do "lower" taxes they normally do what one of my friends in politics calls the "shift and shaft". Indiana did that recently. The price of property taxes were getting so outrageous that many people were losing their homes because the state did away with the inventory tax to entice more companies to come to the state. Spending didn’t go down and the state spending costs got passed down to the local county governments who normally pay for stuff through property tax. So the taking away the inventory tax made property tax go up. To alieviate property tax they raised the sales tax by 1%. They made it appear like they were spending less money when really by increasing the sales tax 1% they increase state tax income by about 4 fold. So basically they are collecting even more taxes but make it look like they are collecting less by shifting where the tax money is taken from and shafting the voters.
I think every state should have somewhere in their constitution that x percent is put back torwards savings and emergency funds and can’t be used except in the case of a natural disaster or statewide emergency. And that they must keep a balanced budget.
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April 4th, 2010 at 4:50 pm
we removed the Governor (that’s how we ended up with Arnold)
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April 4th, 2010 at 5:06 pm
Actually, due to Proposition 13, rapidly increasing property values alone do NOT result in rapidly increasing property taxes. It is only when increased values are coupled with a high number of sales that any significant increase in revenue is seen. Moreover, most property taxes go to local government (cities and counties) not the state.
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30+ years as a criminal defense attorney