Another California tax increase: Bill to tax refinancing to raise 250 million a year

[expatCA]

Originally Posted by Blkhwkdwn

My household makes that. We arent living paycheck to paycheck. Both of us fully fund 401ks, we own our place, and still have disposable income left over. We live in Southern California. Most of my friends are in a similar situation and nobody earning 150k is living paycheck to paycheck.

Do you need some help with your financial planning? Sounds like you have financial issues and are trying to project it onto others.

IF you already have a home and bought it some years back you are OK.

Note do you have 2 children, as that was part of my point as well.

Personally I am doing fine and have no debt and own my home with no mortgage. I have a nice 6 figure income from salary and royalties and my net worth (Cash, Stock, other assets) puts me well in the the 7 figure area and approaching 8 figures depending on how some technology I own progresses in value.

[expatCA]

Originally Posted by waffleiron1968

Thank you for the rationality. 150k is a solid household income and in any case the point was to clear the state debt (0.5 tr now) and that requires cuts in spending and increases in revenue. Once the books were cleared, the iron rule would be no deficit spending UNLESS in an emergency OR on capital which will make money in the middle term (ie factories).


This is basic economic logic. Debt is expensive, debt servicing costs California BILLIONS a year, literally wasted. I just want economically literate people running things.

Fat chance now.

Who is going to vote the current people out and who will vote economically literate people in?

[2sleepy]

Originally Posted by LoveToRow

California is such a pathetic hellhole. LOL. You get what you vote for!

umm yeah, says the guy from zipcode 21215 (Baltimore Maryland)

[waffleiron1968]

Originally Posted by expatCA

Fat chance now.

Who is going to vote the current people out and who will vote economically literate people in?

Sad reality but fast forward to 2030 and liabilities and debt servicing with drown the state ala Greece. I will be retiring about then (I hope) but it looks gloomy for my 'golden years'.

[Blkhwkdwn]

Originally Posted by expatCA

IF you already have a home and bought it some years back you are OK.

Note do you have 2 children, as that was part of my point as well.

Personally I am doing fine and have no debt and own my home with no mortgage. I have a nice 6 figure income from salary and royalties and my net worth (Cash, Stock, other assets) puts me well in the the 7 figure area and approaching 8 figures depending on how some technology I own progresses in value.

We bought the place in 2016. We dont have 2 kids, but we also dont make 150k. We make closer to 135k, but depending on bonuses might be 150k. We plan on having kids and have no financial worries about it at all, but it is not the right time to do so career wise.

Once again, you seem to make these lofty pronouncements from afar, yet you dont even seem to live here. Seems very presumptuous. I mean, how would you like it if I told you that you were living paycheck to paycheck when its completely untrue. Seems pretty rude is it not?

[expatCA]

Originally Posted by Blkhwkdwn

We bought the place in 2016. We dont have 2 kids, but we also dont make 150k. We make closer to 135k, but depending on bonuses might be 150k. We plan on having kids and have no financial worries about it at all, but it is not the right time to do so career wise.

Once again, you seem to make these lofty pronouncements from afar, yet you dont even seem to live here. Seems very presumptuous. I mean, how would you like it if I told you that you were living paycheck to paycheck when its completely untrue. Seems pretty rude is it not?

I am glad you are doing well, many are not. I post here because I was born and raised in SoCal, have lived for 55 years in SoCal, have friends in SoCal and 3 business in SoCal and obviously employees in SoCal. It is my favorite place, but no longer a place to live, though in the future when I finally retire, who knows. I am very familiar with the State, the benefits and problems.

You are also wise to hold off a bit on having children. Once you do, count on spending more than you might expect. Kids are costly, but if you are good parents they are worth the expense.