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Old 11-11-2009, 09:59 PM
 
2,312 posts, read 1,662,342 times
Reputation: 1208

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Nine states seen in peril similar to California: report | U.S. | Reuters

Nine states seen in peril similar to California: report - Yahoo! Canada News (http://ca.news.yahoo.com/s/reuters/091111/us/usreport_us_usa_economy_states_1 - broken link)

States' Deplorable Fiscal Situation Betrays True State Of The Economy Stripped Of Stimulus | zero hedge

http://globaleconomicanalysis.blogsp...l-trouble.html

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I would rehash conversations past I have had on this very thing.. However, it will suffice to say.. What those denied is coming to pass... Reality is catching up quick w/ this state...

When it becomes clear what should be done for me.. I will make the choice having no permanent settlement here.
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Old 11-11-2009, 10:13 PM
 
Location: Zurich, Switzerland
25,327 posts, read 33,105,778 times
Reputation: 10740
Oh no!

Let's cry.
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Old 11-11-2009, 10:59 PM
 
Location: Pueblo, CO
290 posts, read 595,244 times
Reputation: 151
Here, maybe this is a little easier to see:

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Old 11-11-2009, 11:01 PM
 
Location: Pueblo, CO
290 posts, read 595,244 times
Reputation: 151
Poor Arizona, they don't look like they're doing so well. Illinois is kind of up there too...
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Old 11-11-2009, 11:20 PM
 
207 posts, read 515,869 times
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If this causes anyone to move from CA, which state would you choose to sidestep such a problem?
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Old 11-12-2009, 12:20 AM
 
Location: The High Seas
5,771 posts, read 7,321,023 times
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California needs to improve to reach Michigan standards. In a very sick and twisted way, that's pretty funny.
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Old 11-12-2009, 01:18 AM
 
2,312 posts, read 1,662,342 times
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Quote:
Originally Posted by dreamfollower View Post
If this causes anyone to move from CA, which state would you choose to sidestep such a problem?
A state w/o income tax and a state that has a low cost of living....
I have yet to decide where to settle permanently as states in general haven't gotten their act together.. I would chose a state w/ no state income tax. Namely because I would want to feel I can pursue ventures w/o worry that the state will take more and more from me based on my productivity .. No income tax and low sales tax.. I would want to make money as freely as i can w/ mo progressive punishment and not feel like I have to curb my spending due to insane state sales tax... That and a fixed fee vehicle registration.. If I decide to drive a $40k car I dont want to be punished for it by paying $460 a year to register it. Nor do I want to pay out ~10% if I decide to buy a used one/new one...

Florida or Texas come to mind... No state income tax...
Although florida is in the list.. Note, it has no state income tax.. so screw it if they are in Peril... I wont have to pay for it...

On, FL further.. Note their debt rating is a B- instead of a D+ ..
FL is most in trouble due to housing taking a huge hit there for which the state renders most of its revenue.. CA is in trouble due to that, businesses leaving, sales tax being 9%, people cutting back and the state being a wreckless spender .. A socialist provider and other things.. in FL its 6% thus its not one of the major forms to take a hit.. CA is in trouble from all sides...

When moving out one would need to survey of course jobs readily available in said state, etc .. One thing I will enjoy most is draining my 401k once I leave.. there is a 10% penalty associated. However, that equates to CA's income tax by roughly a % .. chock in the 3% differential in sales tax and that's already +2% on my money.. I will most likely take a year off to reduce my taxable income and literally drain it dry .. during that time maybe go back to school and do some grad research/try to start a business ..

But i dunno, this state is just ridiculous in all ways .. The only thing keeping most here is the geography and jobs... jobs are ending by the day and I am sure most pack their bags up and leave when that happens as one can't afford to relax in CA...
In the the tech valley of Norcal internal memos from CEO's are being circulated by the day about how companies are continually evaluating lower cost centers abroad and within the U.S .. It's only a matter of time before it happens .. Once one company gets the nads to leave.. the rest will follow... There are already tech hubs sprouting in low cost centers found in other states.. I await for the momentum to build .. I will be first in line to request a transfer to a lower cost of living branch.
Add in the daily harrassment from cops on vigilant patrol for revenue.. and I just is absurd.. Glad to see conditions finally cathing up w/ CA.. THe naysayers have been yapping for far too long. I foresee serious consequences for this state in 2010.. Arnold has declared he will be revisiting an across the board cut to solve yet again a $5-7 billion deficit the state is facing... Although he is not commenting, I also expect for him to propose even more tax increases although the populous voted these propositions down in the special election earlier this year... I think they may even have the balls to go up against Proposition 13. I can't wait to hear what all the lovers of CA say when that happens.... Jobs aint coming back anytime soon.. Even the president has acknowledged this.
The lifeblood of tax revenue in Norcal is dying by the day :
http://www.mercurynews.com/top-stories/ci_13766368
http://layoffblog.com/

Thus, CA being the spending clown it is... Things are gonna get ugly for this state relatively quickly. I myself do whatever I can on a daily basis to do what I legally can to punish this state :
> Purchase outside of state (no sales tax to the state)
> contribute 50% to my 401k in the beginning of year to deprive state of my income tax
> Spend money only on essentials.. food is not taxed and I fight everyday not to buy things I dont desperately need...
> Tax shelters for which i will drain when I leave... etc

Tried voicing my concerns.. Tried helping the state in any way I could.. Tried voting and getting others to vote.. that didn't work.. So.. Now.. I and others talk w/ my our feet and our money.
I was surprised at how many forums/resources exist on how to minimize taxable income and taxable operations legally...

Cheers to all who remain.. I sincerely hope you get involved w/ the state you love soo much.. Economically it is on its deathbed... From the way the govt. runs this state and its finances, I find it hard to believe that the people who love it soo dearly are active in the policies/decisions/leaders who run it... In this sense, people get the govt. they deserve. Wishful thinking and broke

Last edited by yeahthatguy; 11-12-2009 at 01:39 AM..
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Old 11-12-2009, 11:57 AM
 
Location: Pueblo, CO
290 posts, read 595,244 times
Reputation: 151
Quote:
Originally Posted by yeahthatguy View Post

Florida or Texas come to mind... No state income tax...
Although florida is in the list.. Note, it has no state income tax.. so screw it if they are in Peril... I wont have to pay for it...


I foresee serious consequences for this state in 2010.. Arnold has declared he will be revisiting an across the board cut to solve yet again a $5-7 billion deficit the state is facing... Although he is not commenting, I also expect for him to propose even more tax increases although the populous voted these propositions down in the special election earlier this year... I think they may even have the balls to go up against Proposition 13. I can't wait to hear what all the lovers of CA say when that happens.... Jobs aint coming back anytime soon..
I've heard good things about TX in the way of taxes. I don't think they're particularly going under either.

So with taxes in CA being the way they are is our deficit going up, going down, or remaining the same? I'm not sure. It does look, by outside appearances, like we're being charged up the ying-yang for everything (like the vigilant cops you mentioned) and the state is still going broke....
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Old 11-12-2009, 12:20 PM
 
Location: CO
1,598 posts, read 2,161,697 times
Reputation: 457
Quote:
Originally Posted by dreamfollower View Post
If this causes anyone to move from CA, which state would you choose to sidestep such a problem?
I guess that depends on how much the state's perils will have an effect on your day to day life (your happiness, and the other compromises you'd have to make by moving). As I keep saying, it's all a matter of one's perspective. For some, the state's issues matter very little in their lives. For others, it's enough for them to move. Everyone will have their own opinion and distinct set of circumstances.
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Old 11-12-2009, 12:25 PM
 
Location: Las Vegas, NV
613 posts, read 819,100 times
Reputation: 595
Quote:
Originally Posted by yeahthatguy View Post
Tried voicing my concerns.. Tried helping the state in any way I could.. Tried voting and getting others to vote.. that didn't work.. So.. Now.. I and others talk w/ my our feet and our money.
I was surprised at how many forums/resources exist on how to minimize taxable income and taxable operations legally...

Cheers to all who remain.. I sincerely hope you get involved w/ the state you love soo much.. Economically it is on its deathbed... From the way the govt. runs this state and its finances, I find it hard to believe that the people who love it soo dearly are active in the policies/decisions/leaders who run it... In this sense, people get the govt. they deserve. Wishful thinking and broke
I don't consider myself a high income earner, but CA sure did. I was one of those ordinary middle-class folks who said "enough is enough." The nanny state stuff always bothered me, but the final straw was having my taxes jacked last spring to protect the state govt workers and their precious pensions while my 401k was in the crapper.

We put our home on the market last March, moved to NV, and haven't looked back. CA is headed for a meltdown and I wanted out before there's a total collapse. I realize it's far from perfect over here, but at least we have the structure in place for an economic recovery (i.e. low taxes and regulation).

Yes, it's HOT in the summer, but you adapt rather quickly. My AC runs 24/7, but my electric bills are the same or lower than when I lived in the Inland Empire. The point being is that we're way ahead and our quality of life has improved dramatically. And family/friends are still only four hours away.

NV isn't for everyone, but is sure works for us. We couldn't be happier. My only regret is that we didn't move sooner.
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