News Article

Despite Tax Increase, California State Revenues in Freefall

Via breitbart.com » Submitted On Sun, 12/09/2012 - 5:35pm by tr colorado

California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Despite reassurances from academics and progressive media, the passage of the tax hike known as Proposition 30 may have spurred the state's millionaires to flee, causing this shortfall.

Comments

One would not have needed an IQ greater than a pencil eraser to see this coming.

1 year 7 months ago

This is where our current administration is taking the entire country. Hang on!

1 year 7 months ago

I think you're being generous with the pencil eraser. Have you heard the idiot known as Jerry Brown and some of the other California idiots exclaiming how wonderful their newly passed law is?

1 year 7 months ago

I bet they change their tune quickly. There is words of people speaking out against some of the changes to come.

1 year 7 months ago

@ Michael. I guess you are right. I have insulted the intelligence of pencil erasers everywhere. At least pencil erasers know how to correct mistakes!
@ Scott. Spent any time in California? I just don't see much chance of that, at least not in the short run.

1 year 7 months ago

Never been there... but you are right, there track record says they do not learn too quickly... if at all.

1 year 7 months ago
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They aren't idiots, worse, they're idealists! You can teach an idiot to use the remote to change the channel, but an idealist will never change the channel, even if they don't like what they are watching. This country is being overtaken by idealists.

1 year 7 months ago
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I would be laughing my ass off, if not for the fact that my family still lives( and works) in the land of nuts and squirrels. Watch these pigs conspire with Obamalamadingdong to have the rest of us bail them out.

1 year 7 months ago
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After more and more businesses flee California, maybe the voters who help put Obama back in office can ask their sugardaddy for help. Stupids.

1 year 7 months ago

That's when the people in the responsible states get to pick up the tab for those states that are so corrupt and irresponsible that they can't and won't balance their own budgets. Nice reward for the people in the responsible states.

1 year 7 months ago
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A state run by idiots cannot never get ahead! They will continue to decline until they fix the problem and since their too stupid to even know what the problem is, it's pretty much a gimme that they will go bankrupt. They can't tax their way into the black.

1 year 7 months ago

they're too stupid

1 year 7 months ago

Well they sure are trying to.

1 year 7 months ago

Maybe by the turn of the next millennium someone there might figure that out, but by then nobody there will be able to speak or even read English.

1 year 7 months ago
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California is obviously on the down hill side of the Laffer curve and most likely there is probably not a single California politician who has even heard of the Laffer curve.

1 year 7 months ago

I do now thanks to Google.

1 year 7 months ago

Paste the following into an internet search for an article about how England saw an unfavorable real world test of the Laffer Curve:

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1 year 7 months ago

Thanks, a good read. I knew that just didn't know it was called the Laffer curve.

1 year 7 months ago
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When the voters leave the state to find a job, do you think they will bring their political beliefs with them and continue to vote for the same crap that got them where they are? Will they connect the cause with the effect?

1 year 7 months ago
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You get what you ask for. California needs to recall all the Liberals that has dragged their state to Bankruptcy. The People also have to fight these Politicians, who keep feeding Parasites of their state. Cut your taxes, and stop the continuing of wasted spending.

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1 year 7 months ago
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