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HomeOff Topics News & Politics › Massive Revenue Loss Follows California Tax Hike Vote
12-10-2012 02:31 AM  5 years agoPost 1
Dennis (RIP)

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Oregon

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Massive Revenue Loss Follows California Tax Hike Vote

posted on December 8, 2012 by Tad Cronn

During the recent election, Gov. Jerry Brown and supporters of Prop. 30 assured voters that there was no chance whatsoever that raising taxes again would drive away any of the state’s businesses or millionaires.

Brown even commissioned a study from the Stanford Center on Poverty and Inequality that found millionaires would rather stay put than let a little thing like government thievery drive them away.

The media backed that up with stories assuring readers that California could choke the rich, no problem.

State Controller John Chiang announced Friday afternoon (the traditional time for not getting stories covered) that the state’s revenue for November came in $806.8 million under projections. That’s more than 10% under budget for the month.

Whoops.

Although Chiang’s office did not comment on the whole “rich flight” issue, the breakdown of the trouble is an $842.5 million plunge in personal income taxes, $187.8 million decrease in corporate taxes, offset by an increase of $99 million in sales taxes. The sales tax rise probably has a lot to do with increasing consumer costs in the not-so-Golden State, although it wouldn’t be surprising if some of it was from happy liberals going on a binge after the election.

Will reality finally soak in to the spending-addicted brains of liberal voters and politicians? Not likely. Liberals’ dogma dies hard.

More likely what will happen is that Sacramento will go through another round of trying to raise taxes; then threatening to fire teachers, cops and firefighters if voters don’t go along; then putting another tax hike on the next available ballot. When that doesn’t work, even the mighty unions probably won’t be able to stop job losses. Meanwhile, revenues will continue to plunge, unemployment begin rising again, politicians still won’t cut the real fat and voters still will be voting Democrat.

Things can get a whole lot worse still before they get better.

With any luck though, California may have reached the tipping point at which even the liberal millionaires who infest the state will begin to leave. All the unemployed workers they leave behind would then have the choice of waking up and finally booting out the leeches from Sacramento or following their former employers out of state.

Either way, California would be likely to wind up a much poorer, though ultimately better off, state. One can only hope as California continues its slow slide into the sea.

http://godfatherpolitics.com/8461/m.../#ixzz2EbzZ4Zv5

My Comments: You will be seeing the exact same thing happen when the obummer gets his desire for a tax increase on the rich next month. Its in the history books. You raise taxes on investments, and tax revenues decrease. Not increase. Its all there.

Surprise !!

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12-10-2012 03:02 AM  5 years agoPost 2
InvertedDude

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LMAO!
WOOO HAHAHAHAHAHAHAHA Too Funny!

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12-10-2012 03:34 AM  5 years agoPost 3
baby uh1

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St. James, Mo.

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All that we can hope for is that when Cal. melts down it will serve as a lesson to the rest of the country. Even though liberals don't learn lessons very well!

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12-10-2012 03:51 AM  5 years agoPost 4
dilberteinstein

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Dennis
More likely what will happen is that Sacramento will go through another round of trying to raise taxes; then threatening to fire teachers, cops and firefighters if voters don’t go along; then putting another tax hike on the next available ballot. When that doesn’t work, even the mighty unions probably won’t be able to stop job losses. Meanwhile, revenues will continue to plunge, unemployment begin rising again, politicians still won’t cut the real fat and voters still will be voting Democrat.
This is exactly what will happen.

90% of life is "showing up"

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12-10-2012 03:52 AM  5 years agoPost 5
Dennis (RIP)

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Oregon

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All that we can hope for is that when Cal. melts down it will serve as a lesson to the rest of the country. Even though liberals don't learn lessons very well!
The Obummer will just bail them out at the expense of the entire USA and they will move merrily along just like before.

Mark my words.

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12-10-2012 03:58 AM  5 years agoPost 6
dilberteinstein

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texas - USA

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baby uh1
All that we can hope for is that when Cal. melts down it will serve as a lesson to the rest of the country. Even though liberals don't learn lessons very well!
Hope is you got on that idea.

You would think Detroit would have already been that example. Once the liberals start with the "fantasy ideas about government", all reality goes out the window.

Did California look at Detroit and realize they best stay away from Democrats in government...nope, they didn't learn from Detroit and the US will not learn from California.

The Democrats keep beating that same old drum:"hey, let's rob the rich guy!"

90% of life is "showing up"

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12-10-2012 04:07 AM  5 years agoPost 7
baby uh1

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St. James, Mo.

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I just hope that the rich liberals that voted for this crap are not moving to another state to just screw it up too. Although I think that is what is happening to Colorado and Arizona!

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12-10-2012 04:25 AM  5 years agoPost 8
fla heli boy

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cape coral, florida

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and Oregon and Washington.....spreading like leprosy.

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12-10-2012 04:42 AM  5 years agoPost 9
Dennis (RIP)

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and Oregon and Washington.....spreading like leprosy.
Yup, the entire west coast has gone total wacko lefty.

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12-10-2012 05:07 AM  5 years agoPost 10
InvertedDude

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USA

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Everyone
Constitution prevent states from being bailed out by the FEDS.

The states will just default or selective default on their debts. Defaulted states will have trouble obtaining funds from investors or collecting taxes from Democratic majority. The folks with money are leaving the states in droves.

It is going to be a very entertaining experience to watch the Liberals go bonkers, when their own people eat them for lunch.

I am so excited to see these things come to pass, it is like I can't wait for it. When that day comes, we will be sitting in our chairs laughing at them. Observing Liberals get their heads busted open from rioting and looting.

As for Liberals moving to AZ, you are absolutely right. AZ is slowing becoming leftist wacko state. It is only a matter of time before we fall into democratic policies. (AZ helped voted in ObamaCare by 5 democrats)

Colorado is gone, they are Liberal.

Liberals never learn their lessons, they just expand and reproduce to consume all the materials in a location before they move on to others. Liberals follow the pattern of a virus.

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12-10-2012 05:12 AM  5 years agoPost 11
koppter

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Virginia

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A google search of the author reveals that he would be quite comfortable surrounded by the residents of this forum. truth should never be favored over a salicious headline or outright stupidity - he says that most jews are atheists.

and this is the same guy who discounts evolution because it is has never been observed. and yet, just the other day scientists commented that they observed adaptive behaviors when catfish would momentarily come out of the water to catch pigeons, a specie not native to the area. go figure.

anyway, I think with the passage of Prop 30, we are okay. But suppose that it didn't pass - do you guys get some twisted enjoyment of watching education dollars shrink and state workers forced into reduced schedules? Somehow that's funny?

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12-10-2012 05:15 AM  5 years agoPost 12
InvertedDude

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USA

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koppter
anyway, I think with the passage of Prop 30, we are okay. But suppose that it didn't pass - do you guys get some twisted enjoyment of watching education dollars shrink and state workers forced into reduced schedules? Somehow that's funny?
Absolutely, it reveals how far and depraved the Liberal mindset is. The only way this country will return back to principles is through pain and relearning our lessons.

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12-10-2012 05:27 AM  5 years agoPost 13
Dennis (RIP)

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Oregon

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and this is the same guy who discounts evolution because it is has never been observed. and yet, just the other day scientists commented that they observed adaptive behaviors when catfish would momentarily come out of the water to catch pigeons, a specie not native to the area. go figure.
Yeah right. Alligators jump out of the water to catch birds as well. They have remained the same for millions of years.

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12-10-2012 05:36 AM  5 years agoPost 14
drdot

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So. California, Orange County.

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Fwiw..

I would be happy to work a reduced schedule...Much better than the no work I have now.....Please....Think before you post..I'm running out of Xanax....

BC

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12-10-2012 06:03 AM  5 years agoPost 15
InvertedDude

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USA

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Let me remind ourselves the word, "reality".

Watch at YouTube

Run up massive debts....population dependence on Gov't. The population rebels due to cuts because the Gov't is broke. Gov't pushes the rioters back and hurts some of them.

Who is the winner here in this situation? For those that debate that these problems won't come to America. My response, Do you have your head up your arse?

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12-10-2012 12:01 PM  5 years agoPost 16
baby uh1

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St. James, Mo.

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You have to raise taxes to assure that you have enough police to handle the food riots!
See, it's simply government survival 101.

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