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Location: Central Bay Area, CA as of Jan 2010...but still a proud Texan from Houston!
7,484 posts, read 10,447,145 times
Reputation: 8955
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Quote:
Originally Posted by user_id
Texas has not made a serious attempt to address its budgetary issues, look it up.
California has the largest economy in the union, in what sense is it not attracting and creating businesses?
What you call "wasteful spending" is really social programs that you disagree with. Conflating actual government waste (i.e, inefficiency) with social programs you don't like is silly. To say it again, Californians don't want California to be like Texas.
But transplants from conservative states often support conservative policies when they relocate here, the same can be said of more liberal folks that move to conservative states. But at some point...you have to understand that you're a fish out of water and the locals would prefer if you left your ideology at the border.
Sure Texas has not made a serious attempt to address it's budgetary issues... Texas budget with $15 billion in cuts clears Legislature | Texas Legislature | News from... (http://www.star-telegram.com/2011/05/28/3111691/texas-budget-with-15-billion-in.html - broken link). You talk a lot of CRAP!
Yawn...it all just went over your head! You have no idea what I support or if I am social, liberal, conservative...so I suggest you stop assuming. I will speak my thoughts and vote how I wish and I don't give a damn what anyone in this state or any state thinks about it. It is a free country after all and California is not a country of it's own. Like I said if you can't take what you read on this forum then you should move to another more suitable forum.
Sure Texas has not made a serious attempt to address it's budgetary issues... Texas budget with $15 billion in cuts clears Legislature | Texas Legislature | News from... (http://www.star-telegram.com/2011/05/28/3111691/texas-budget-with-15-billion-in.html - broken link). You talk a lot of CRAP!
27 - 15 = 12, even after very aggressive budget cuts (mostly effecting kids) Texas is still left with a larger shortfall than California currently faces.
Quote:
Originally Posted by TVC15
You have no idea what I support or if I am social, liberal, conservative...so I suggest you stop assuming.
Sure I do, you posted a number of things all of which are conservative talking points. Its okay, you are free to think whatever you wish, but at some point you have to recognize that people in California aren't the same as those in your home state. "Welfare" isn't a dirty word here....
In terms of business, I'll ask you again, how exactly does the state with the largest economy need to learn something from other states?! Really, this is just a bit crazy... And why do you keep posting an article about some Republican politicians going to Texas? Its just unfortunate that they returned....
Location: Central Bay Area, CA as of Jan 2010...but still a proud Texan from Houston!
7,484 posts, read 10,447,145 times
Reputation: 8955
Quote:
Originally Posted by user_id
27 - 15 = 12, even after very aggressive budget cuts (mostly effecting kids) Texas is still left with a larger shortfall than California currently faces.
Sure I do, you posted a number of things all of which are conservative talking points. Its okay, you are free to think whatever you wish, but at some point you have to recognize that people in California aren't the same as those in your home state. "Welfare" isn't a dirty word here....
In terms of business, I'll ask you again, how exactly does the state with the largest economy need to learn something from other states?! Really, this is just a bit crazy... And why do you keep posting an article about some Republican politicians going to Texas? Its just unfortunate that they returned....
Scammer's abusing welfare is a dirty word anywhere. Even in a liberals mind
I post that link so that you can see that business is leaving California not rushing to it. It has nothing to do with Republicans at all. Stay focused now.
Location: Central Bay Area, CA as of Jan 2010...but still a proud Texan from Houston!
7,484 posts, read 10,447,145 times
Reputation: 8955
[quote=user_id;19494872]27 - 15 = 12, even after very aggressive budget cuts (mostly effecting kids) Texas is still left with a larger shortfall than California currently faces. quote]
Oh so now you see Texas has addressed it's budget...but earlier you said it had not made a serious attempt to address it at all....get your facts straight and stop talking CRAP.
Adding some facts to the discussion :
> Texas has an untap'd rainy day fund of $10 billion dollars
> Texas does its budget on a Biennial period (2 year period).
> California does its budget on an annual basis ...
Thus, any Texas shortfall figures are to be divided by two in order to compare to California.
I don't know why this is being left out ... but please factor it in
California started out w/ an annual budget deficit of $25.xx billion for the year of 2011...
Aside from that :
California’s employer-paid Unemployment Insurance Fund is insolvent.
The fund had a deficit of $10.3 billion in 2010, a deficit that is growing to what the state projects will be a $13.4 billion hole this year (2011)
I wont even get into CALPers etc..
Here is the forward projection for California (ANNUAL) budget deficits :
This does not account for retirement liabilities or debt service costs.
California has a total state debt of $290,855,041,516 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap...
You recall just years ago CAlifornia had a $42 billion budget deficit gap...
How does this debt compare with those of other large states? On a debt per capita basis, California ranks 2nd highest at $2,362, with New York at $3,135. (Texas is the lowest at $520; Michigan follows at $748.)
I don't care to go on much further.. but basically California has been solving tens off billions of dollars of deficit problems w/ bonds/kicking the can down the road.. and has tons of unfunded obligations....
So, just in case it wasn't clear.. divide by 2 class...
$27 billion / 2 = $13.5 billion
($27 billion - $15 billion) / 2 = $6 billion
$10 billion in rainy day funds (offset capital) = $4billion rainy day + budget solved...
Not saying this is concrete solution that is being pursued but yeah ... hardly in any way shape or form in the troubles CA is in....
And as a remind.. This is all achieved w/ a tax level much lower than California's ..
And w/ the market dipping right on time and serious layoffs looming in tech .. I think yet again California's lofty projections will result in [surprise] shortfalls....
"During the past decade, the annual California revenue from capital gains tax alone ranged from $3 to almost $12 billion per year. "
California still faces a $10 billion budget gap even after tens of billions of dollars in cuts in recent years, but its revenue has been gaining strength thanks to tax collections on capital gains posted on investments by its wealthiest residents.
"We think cap gains is what's driving this train," said H.D. Palmer, a spokesman for California's finance department, whose bookkeepers help write budget plans for the government of the most populous U.S. state.
Sorry folks but this train is heading south.. LOL http://in.ibtimes.com/articles/15153...ia-revenue.htm
I guess that's what you get for depending on punishing the success of the hard working too much.. you get unpredictable revenue streams...
The “wild card” of this forecast is our projection of capital gains income. Capital gains are both notoriously volatile and concentrated among the highest income taxpayers (who pay the highest average tax rates). The swings in capital gain realizations are substantial, resulting in multibillion reductions in PIT revenues when a recession strikes.
"Palmer said the finance department is not banking on a windfall from IPOs, adding that there is $141 billion in capital losses, $80 billion from 2008 and 2009, California taxpayers could carry forward to offset capital gains income."
LULZ .. oh yeah, those carry over losses
but TVC15 don't waste any more of your time. I find some people just like to troll here. No matter if you showed him 1+1 = 2 he'd still say it equals 3 or you're not looking at it the right way.
*moving on from this thread.
Last edited by yeahthatguy; 06-08-2011 at 02:16 AM..
Sure Texas has not made a serious attempt to address it's budgetary issues... Texas budget with $15 billion in cuts clears Legislature | Texas Legislature | News from... (http://www.star-telegram.com/2011/05/28/3111691/texas-budget-with-15-billion-in.html - broken link). You talk a lot of CRAP!
Yawn...it all just went over your head! You have no idea what I support or if I am social, liberal, conservative...so I suggest you stop assuming. I will speak my thoughts and vote how I wish and I don't give a damn what anyone in this state or any state thinks about it. It is a free country after all and California is not a country of it's own. Like I said if you can't take what you read on this forum then you should move to another more suitable forum.
California has also slashed its budget deficit by $16 Billion. We are still working on the remaining $9 Billion.
Personally I dont think we're cutting enough from bureaucracy, personnel and once again, Im gonna say it---our corrections is bloated budgetwise(9-12 BILLION annually), yet still unable to 'care for' all the inmates.
Like I've said in the past, make prisoners sleep on the floor and grow their own damned food. They should be cleaning our roadsides, clearing brush, doing all the labor and heavy lifting in this state and working their asses off day and night to repay society.
I will never understand why we keep up a system that is broken, is not rehabilitating anyone and is a revolving door for low life scumbags who only go back there to hone their lawbreaking skills and network with other like minded criminals.
California has also slashed its budget deficit by $16 Billion. We are still working on the remaining $9 Billion.
Personally I dont think we're cutting enough from bureaucracy, personnel and once again, Im gonna say it---our corrections is bloated budgetwise(9-12 BILLION annually), yet still unable to 'care for' all the inmates.
Like I've said in the past, make prisoners sleep on the floor and grow their own damned food. They should be cleaning our roadsides, clearing brush, doing all the labor and heavy lifting in this state and working their asses off day and night to repay society.
I will never understand why we keep up a system that is broken, is not rehabilitating anyone and is a revolving door for low life scumbags who only go back there to hone their lawbreaking skills and network with other like minded criminals.
California has not slashed the budget by 16 billion, that statement is pure BS. Brown is up to his old tricks of making over optimistic estimates for future tax revenues and flat out gimmick crap by pushing out funding requirements ... its all smoke and mirrors ... and business as usual
Misinformed about what? Texas has a $27 billion dollar shortfall, the fact that they are trying to solve it doesn't mean they didn't have the shortfall. On the other hand California's shortfall is around $10 billion. California took action sooner than Texas, by both cutting spending and increasing revenue.
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Yeah...that is why it has a $27 billion shortfall...because its been tightening its belt. What you mean to say is that now that the situation has become critical, Texas politicians are going to try to deal with the budgetary problems.
The goal of California shouldn't be to become like Texas, if anybody wants to live in Texas they can move. The goal of California should be to balance its budget while maintaining the sort of social model that Californians support.
Isn't democracy great? Californians get to decide what happens in California and Texans can decide what happens in Texas. Don't like it? Move.
Can you please show me exactly where CA is cutting spending and increasing revenue?
As for moving, you're suggestion is a good one. I did just that, taking my money, my experience and my commitment to my community with me. I love it here it Texas. Economy is booming, businesses are thriving, jobs are plentiful, my paycheck goes a LOT further. And they are frugal with my hard earned money that they collect in taxes. Oh wait - NOT TAXES! LOL
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all the inmates.
