Gov Brown leaves office with a $30 Billion budget surplus (car tax, living)

[Leona Valley]

Originally Posted by Californiaguy2007

I give credit to whoever deserves it...Before Jerry Brown came into office,California was in a huge deficit that not even former Governor Schwarzenegger could get rid of it.

Jerry Brown will be leaving office with a surplus for California....Thank You Governor Brown for all your work and effort

I admire Jerry Brown's honesty.



https://www.youtube.com/watch?v=mKjZZZV5Ack

[sean1the1]

Originally Posted by HereOnMars

Or ...

Fiscally responsible democrats. I'll have to ponder that one. Never saw the those three words used together.

Majority of Dems want to see the state succeed hence why dems now have a supermajority. Republicans had their chance, and guess what? They blew it!!

I personally don't see how giving tax payer dollars to the largest most profitable companies in the world, and them using the funds to buy back their own stocks as being fiscally responsible especially when it translates into trillions of debt for future generations.

If we're going to incur debt at least give us something to show for it for decades.

[JGC97]

Originally Posted by sean1the1

Majority of Dems want to see the state succeed hence why dems now have a supermajority. Republicans had their chance, and guess what? They blew it!!

I personally don't see how giving tax payer dollars to the largest most profitable companies in the world, and them using the funds to buy back their own stocks as being fiscally responsible especially when it translates into trillions of debt for future generations.

If we're going to incur debt at least give us something to show for it for decades.

They blew it? But don't we have a surplus in the state? I'm confused. Or, are you talking about Federal now instead of California?

And of course those large corporations buy back their own stock with tax breaks. Keeping shareholders and investors happy. How's your portfolio doing these days?

[sean1the1]

Originally Posted by HereOnMars

They blew it? But don't we have a surplus in the state? I'm confused. Or, are you talking about Federal now instead of California?

And of course those large corporations buy back their own stock with tax breaks. Keeping shareholders and investors happy. How's your portfolio doing these days?

A mix of them both, but my portfolio honestly probably would've been the same without those tax cuts all the gains for the year are gone.

[Hulsker 1856]

Originally Posted by sean1the1

Sharp contrast to the $14 Billion deficit when Brown took office again in 2011. https://www.politifact.com/californi...early-30-bill/

Meanwhile, Kansas - that tax-cute 'paradise' - is a trainwreck.

https://www.forbes.com/sites/beltway...hes-and-burns/
https://www.cbpp.org/research/state-...-side-tax-cuts
https://www.npr.org/2017/10/25/56004...-of-experiment

Reagan massively cut taxes, promising that it would spur such incredible economic growth that federal coffers would overflow - but deficits exploded so massively that he then reversed much of that course, calling his tax hikes 'revenue enhancments' instead of 'tax increases'.

Bush II massively cut taxes in 2001-2002 to 'fix things'... and then the balanced budgets of the Clinton years disappeared in a cloud of massive deficits. But Vice President Dick 'deficits don't matter' Cheney was fine with that (deficits never matter when a Republican is in the White House, but they're the end of the world when a Democrat resides at 1600 Pennsylvania Avenue).

Trump? The same old song and dance. Massive tax cuts, with the promise that ensuing economic activity will cause an influx of revenues. It never happens, but the useful idiots learn nothing from one failure after another.

And California? Yet another data point that they'll ignore, because their dogma is more precious to them than what actually happens in the real world. The states are the laboratories of democracy. Some people are just too clueless to see what that laboratory demonstrates.

[JGC97]

Originally Posted by sean1the1

A mix of them both, but my portfolio honestly probably would've been the same without those tax cuts all the gains for the year are gone.

Well, we're not talking Federal. This is about California and so we'll just leave it at that except to say everything goes down and then goes up. Buy low, sell high.

[mysticaltyger]

Originally Posted by Hulsker 1856

Meanwhile, Kansas - that tax-cute 'paradise' - is a trainwreck.

https://www.forbes.com/sites/beltway...hes-and-burns/
https://www.cbpp.org/research/state-...-side-tax-cuts
https://www.npr.org/2017/10/25/56004...-of-experiment

Reagan massively cut taxes, promising that it would spur such incredible economic growth that federal coffers would overflow - but deficits exploded so massively that he then reversed much of that course, calling his tax hikes 'revenue enhancments' instead of 'tax increases'.

Bush II massively cut taxes in 2001-2002 to 'fix things'... and then the balanced budgets of the Clinton years disappeared in a cloud of massive deficits. But Vice President Dick 'deficits don't matter' Cheney was fine with that (deficits never matter when a Republican is in the White House, but they're the end of the world when a Democrat resides at 1600 Pennsylvania Avenue).

Trump? The same old song and dance. Massive tax cuts, with the promise that ensuing economic activity will cause an influx of revenues. It never happens, but the useful idiots learn nothing from one failure after another.

And California? Yet another data point that they'll ignore, because their dogma is more precious to them than what actually happens in the real world. The states are the laboratories of democracy. Some people are just too clueless to see what that laboratory demonstrates.

Yet despite the so-called train wreck, Kansas still has a bond rating that's one notch higher than California's. Kansas is AA and California is AA-

[sean1the1]

Originally Posted by Hulsker 1856

Meanwhile, Kansas - that tax-cute 'paradise' - is a trainwreck.

https://www.forbes.com/sites/beltway...hes-and-burns/
https://www.cbpp.org/research/state-...-side-tax-cuts
https://www.npr.org/2017/10/25/56004...-of-experiment

Reagan massively cut taxes, promising that it would spur such incredible economic growth that federal coffers would overflow - but deficits exploded so massively that he then reversed much of that course, calling his tax hikes 'revenue enhancments' instead of 'tax increases'.

Bush II massively cut taxes in 2001-2002 to 'fix things'... and then the balanced budgets of the Clinton years disappeared in a cloud of massive deficits. But Vice President Dick 'deficits don't matter' Cheney was fine with that (deficits never matter when a Republican is in the White House, but they're the end of the world when a Democrat resides at 1600 Pennsylvania Avenue).

Trump? The same old song and dance. Massive tax cuts, with the promise that ensuing economic activity will cause an influx of revenues. It never happens, but the useful idiots learn nothing from one failure after another.

And California? Yet another data point that they'll ignore, because their dogma is more precious to them than what actually happens in the real world. The states are the laboratories of democracy. Some people are just too clueless to see what that laboratory demonstrates.

Exactly, Tax cuts have never been beneficial to the US economy! The periods with the best economic growth are those when the government spending was high. The economy boomed in the 90s not just because of Clinton, but because Bush raised taxes winch got him kicked out of office. Funny how that works.

[sean1the1]

Originally Posted by mysticaltyger

Yet despite the so-called train wreck, Kansas still has a bond rating that's one notch higher than California's. Kansas is AA and California is AA-

Well let's hope that bond rating will keep young people from leaving the state, increase the abyssal GDP growth rate, enable the state to pay for essential services, or even create jobs. As of 2018 it looks like the opposite has occurred.

In the last 5 years no state performed as bad as Kansas economically.https://www.bloomberg.com/opinion/ar...at-s-a-mistake

[Astral_Weeks]

Originally Posted by mysticaltyger

Yet despite the so-called train wreck, Kansas still has a bond rating that's one notch higher than California's. Kansas is AA and California is AA-

That is because Brownback, the guy whose policies caused the Kansas train wreck, is no longer in office and his tax cuts were REVERSED.

"Kansas has experienced multiple credit downgrades in recent years. Moody’s noted that the state has repeatedly hurt its credit outlook by depleting cash reserves and deferring pension contributions, but the $1.2 billion tax increase would “go a long way toward solving the state’s budget challenges.”

https://www.kansascity.com/news/poli...155202759.html