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It taxes those making 250k or more...a a .25% increase on sales tax for a limited time.
No wonder Austin TX is still booming and never felt the recession!
All of California is moving here, including a lot of businesses.
Silicon Valley has transplanted here.
We have no State income tax and low local business taxes.
The Austin-area unemployment rate dropped in April to 5.5 percent, the lowest the regional unemployment rate has been in more than three years, the Workforce Solutions Capital Area Workforce Board said Friday. Austin jobless rate drops again - Austin Business Journal
Leaving Cali for TX....
The unemployment rate, however, dipped last month to 10.9% from 11% in March, the result of discouraged workers leaving the labor force, according to the department.
Indeed, the state has gained 175,600 jobs over the last year, through April, and the unemployment rate has fallen from 11.8% a year earlier.
California's unemployment rate remains well above the national rate, which was 8.1% in April. Only two states have higher jobless rates: Nevada at 11.7% and Rhode Island at 11.2%.
In Los Angeles County, the unemployment rate fell to 11.6% from 11.8% in March. In the Inland Empire, the rate fell to 11.7% from 12.7% in March, largely because more workers there left the labor force. April job losses end state's eight months of gains - California
I haven't read all 170 relies to this thread ... but I assume by now someone besides me must have noted:
- the differences between Greece (thread subtitle) and California include that the debt - to - income / GDP ratio in California is well within a healthy range ... not so at all for Greece.
- California is also the world's 8th largest economy, and thriving (see below)
- the sole reason for California's economic stumble is the collapse of the housing bubble, which had zero root in California policy or management -- and prior to which California, for all its need to clean up many wasteful budget items, was on a roll ... and in spite of which, California remains the nation's #1 GDP state and the highest contributor to the Federal GDP -- a net contributor helping support other states that receive more Federal aid than they pay to Washington, D.C. in taxes collected (mostly red states).
- California also has resources, both natural and human, that exceed anything in Greece ... indeed, exceed pretty much every other state in our union ... and which resources aren't going away because of a nasty case of economic indigestion.
I wonder if the Chicken-Little folks who dash about in terror, and others who love to point fingers and laugh, ever study history to grasp the concept that changing conditions and crisis occur constantly all around the world, including disastrous ones ... and that people with resources simply roll up their sleeves, grit their teeth a bit, and get about the struggle of rebuilding. Over and over and over and over and over and over.
It's called life.
California WAS the eighth largest economy, during the 1970s. Today, California's GDP is fourteenth in the world, just before Brazil. Businesses are fleeing California in droves. During biblical times, this would have been called a mass "exodus."
California WAS the eighth largest economy, during the 1970s. Today, California's GDP is fourteenth in the world, just before Brazil. Businesses are fleeing California in droves. During biblical times, this would have been called a mass "exodus."
I have read differing views and statistics on this ... however, the most common range, cited by reputable sources puts California still in the 8th range -- at least as of 2011.
According to U.S. Department of Commerce estimates, California’s GDP (gross domestic product) was $1.89 trillion. And that puts California as the world’s eighth largest economy in 2009.
Since the 1970s, California has ranked 7th biggest world economy, although for a couple of years in 1984 and 1985, California was the 5th largest economy in the world. California economy ranks behind Italy
The California economy currently ranks eighth just behind Italy and ahead of Brazil and Spain.
California economy among world economies
Gross domestic product in $ trillions Rank Country / State GDP 1 United States (without California) 12.3 2 Japan 5.07 3 China 4.98 4 Germany 3.33 5 France 2.65 6 United Kingdom 2.17 7 Italy 2.11 8 California 1.89 9 Brazil 1.57
Glitch is indeed correct; passing Prop. 13 was the smartest thing that the citizens of this state have done in the past 40 years.
Listening to those free-spending Democrats whining about how devastating Prop 13's passage has been to this state's finances a mega-crock, given the supercalifragilistic increase in the state's population between 1978 & 2012.
Our schools are going to continue to suck here and natrionwide until the Democrats decide that challenging teachers via annual competency exams should be priority #1 as opposed to keeping them employed with a very short route to tenure.
No wonder Austin TX is still booming and never felt the recession!
All of California is moving here, including a lot of businesses.
Silicon Valley has transplanted here.
We have no State income tax and low local business taxes.
The Austin-area unemployment rate dropped in April to 5.5 percent, the lowest the regional unemployment rate has been in more than three years, the Workforce Solutions Capital Area Workforce Board said Friday. Austin jobless rate drops again - Austin Business Journal
Leaving Cali for TX....
The unemployment rate, however, dipped last month to 10.9% from 11% in March, the result of discouraged workers leaving the labor force, according to the department.
Indeed, the state has gained 175,600 jobs over the last year, through April, and the unemployment rate has fallen from 11.8% a year earlier.
California's unemployment rate remains well above the national rate, which was 8.1% in April. Only two states have higher jobless rates: Nevada at 11.7% and Rhode Island at 11.2%.
In Los Angeles County, the unemployment rate fell to 11.6% from 11.8% in March. In the Inland Empire, the rate fell to 11.7% from 12.7% in March, largely because more workers there left the labor force. April job losses end state's eight months of gains - California
Irvine, CA has roughly the same unemployment rate as Austin, TX. (6.0 vs. 5.5%). San Francisco, CA is 1 percentage point higher than Dallas and Houston (8% vs. 7%).
The thing is that places like the IE and Los Angeles that were MUCH more heavily tied to housing sector will, obviously, have higher unemployment rates. Austin is not as tied as LA or the IE. The biggest industry in the IE was construction. Of course it stands to reason that cities like Irvine and San Francisco will not be as hurt since they not as linked to housing as say Riverside or Stockton.
If ALL of California were moving there, we would expect to see large numbers of higher wage jobs. What we have instead is a larger increase in low wage labor in TX. The growth of low wage labor (at or below min. wage) has been remarkable to say the least. From 2007 to 2010, Texas has seen an increase of 150% in low wage labor. This has depressed wages in Texas to give an average wage of $11.20 per hour vs. $12.00 nationally. So really much of the growth has more to do with the type of jobs coming to Texas.
CA should keep it's greatest assets viable, the UC system. It's really the economic engine of the state. When comparing the number of research universities, CA easily beats TX. VERY easily. Thus, it's important to reduce tuition in order to maintain our edge in education.
By temporarily raising taxes by a small percentage, it will help mitigate the effects of cuts. We've seen that austerity alone is a bad idea. Simply put, it doesn't work. You need to raise revenue. If the top percentages are benefiting by an educated workforce, then they should help pay.
Prop 13 really has nothing more than help raise housing prices, protect corporate interests, and made this stupid 2/3 vote for taxes.
Look, I'm in favor of cuts. I just feel that we need a temperate approach instead of being extremely draconian. The poorest have suffered the worst, we all need to pitch in. It's time for those that are doing okay (like my family) to help pitch in. That's right. My family is in favor of temporarily raising taxes on itself in order to ensure my nephew has a good school to attend, decent universities, and to make sure that the wealth gap doesn't spiral out of control. It just doesn't make sense to be this anti-tax.
A survey of CA voters indicate that 64% would pay higher taxes if it went to public education. Right now, we are facing the prospect of having a 3 week shorter school year. The fat is pretty lean now, let's not start cutting the muscle and bones.
A survey of CA voters indicate that 64% would pay higher taxes if it went to public education. Right now, we are facing the prospect of having a 3 week shorter school year. The fat is pretty lean now, let's not start cutting the muscle and bones.
This is how California works...
Get it for education. Shift it to entitlements and then scream another day we need more for education. To do it all over again.
Get it for education. Shift it to entitlements and then scream another day we need more for education. To do it all over again.
Not even close to reality. Again teacher layoffs are real and affect CA classrooms. We've cut down on special education services (I had reduced hours) which truly hurt many families.
I guess if you want a truly unequal society in which the rich control all and have all the benefits simply because they can afford it, reduced taxation is great. I just believe in having a middle class.
A survey of CA voters indicate that 64% would pay higher taxes if it went to public education. Right now, we are facing the prospect of having a 3 week shorter school year. The fat is pretty lean now, let's not start cutting the muscle and bones.
Dont most public education come from local property taxes, and not the state taxes? I know around here they do, so I'm not sure what people willing to pay more locally, has to do with the states financial problems.
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