California Continues to Boom -- State Budget Has $6.1 Billion Surplus! (transfer, tax)

[V8 Vega]

Originally Posted by Elliott_CA

Is it a huge blow? Bob drives 18,000 miles/year to and from work. His vehicle gets 21mpg on the highway. That's 857 gallons annually x 12 cents = $102 in extra gas tax per year. That's about $8 per month. True, it's an extra expense, but not what I'd call a "huge blow."

If Bob is smart he trades in his vehicle for one that gets 23mpg or better. He'll save enough on gas that it will more than offset the new gas tax.

Yeah but that money goes into the bottomless black hole of government.

[phantompilot]

Originally Posted by payutenyodagimas

you forget that CA or any govt is never laid off. money is always coming in albeit in up (boom) and down (recession) motion. rainy day fund is just to smooth that out

Sure, it always comes in, until it doesn't come in anywhere near as fast as it goes out. Then they complain and cut services for citizens instead of eliminating the waste of bureaucracy. So yah THEY always try to line their pockets and get PAID, and when they get caught short, they try to make it someone else's problem.

[Independentthinking]

Originally Posted by Algernon60

But what happens when the guy gets no raise year after year and his taxes go up?

CA keeps giving itself a raise through taxes but the overall debt seems to be rising way faster than income. Kinda like the guy making $75,000.00 who buys a new car, truck, boat, even a High Speed Rail and invites strangers into his house to live there for free and he buys them things as well.

Great example. Thanks for posting it.

You might even add an adjustable rate mortgage to it.

[Independentthinking]

Originally Posted by Elliott_CA

Is it a huge blow? Bob drives 18,000 miles/year to and from work. His vehicle gets 21mpg on the highway. That's 857 gallons annually x 12 cents = $102 in extra gas tax per year. That's about $8 per month. True, it's an extra expense, but not what I'd call a "huge blow."

If Bob is smart he trades in his vehicle for one that gets 23mpg or better. He'll save enough on gas that it will more than offset the new gas tax.

Often times, you'll see response like this to try and discount individual matters. Of course, if one looks at the cummulative effects of all these individual items together, it paints an entirely different picture (i.e. increased sales tax, increases in BART/Muni fares for those who take public transportation, increased car registration, parking fees..I think you get like 4 min for a quarter in the financial district right now, restaurants that add a surcharge to your meal for Healthy SF for their employees, bag fees, etc, etc, etc). The list can be endless of the things citizens get nickeled and dimed for. And in the end, it does indeed impact people's budget and livelihood (especially for those that live check to check).

[expatCA]

Originally Posted by Independentthinking

Great example. Thanks for posting it.

You might even add an adjustable rate mortgage to it.

Oh and is told he cannot declare bankruptcy and learn to handle money better because of it. Nope just raise taxes, Let someone else pay for your poor decisions.

[Algernon60]

Originally Posted by TXstate0fmind

43 is awesome. I'm sure there is a participation trophy to be had.

Yeah, what a shame, Alabama, Louisiana, Mississippi, Georgia and every single Southern State ranks higher than CA. Maybe ask their Governors and Legislatures for help in making wise decisions?

[CarawayDJ]

Originally Posted by checkup

Have you seen the state of our roads and bridges? Also, just wait for the next recession

Wanna bet you don't see a lick of difference?

[Tulemutt]

Originally Posted by expatCA

https://www.mercatus.org/statefiscalrankings

Kudos expat ... you rarely cite any references for your pontifications ... but when do you sure pick some doozies:

The Mercatus Center was founded and is funded by the Koch Family Foundations. According to financial records, the Koch family has contributed more than thirty million dollars to George Mason University, much of which has gone to the Mercatus Center, a nonprofit organization. Democratic strategist Rob Stein described the Mercatus Center as "ground zero for deregulation policy in Washington.”

... good grief!

[SportyandMisty]

Originally Posted by checkup

... his successor will probably be a more progressive Democrat who will spend the surpluses on education...

It is unlikely any will be spent on education. However, much will be spent on compensation of teachers & administrators.

[SportyandMisty]

Originally Posted by Tulemutt

Kudos expat ... you rarely cite any references for your pontifications ... but when do you sure pick some doozies:

... good grief!

Ah, yes, debate 101: when the data are against you, just attack the source. Tulemutt, you're better than that.