CA state budget has $14.3 billion surplus above expectations (Lodi: rent, college)

[Dean Trails]

Originally Posted by Observers12

So, we can expect a reduction in our state income taxes then?

Should the surplus be returned to those who paid into it, or reserved for Newsom's pet projects to pay for more poor people to come lodge here and get free healthcare, no matter their 'status'?

Thank you for the great chuckle!
No, our betters in Sacramento will find creative ways to divert the surplus to unions, their cronies and other wasteful projects. Heaven forbid they might spend the cash on California infrastructure.

[Boogoowoo]

Originally Posted by V8 Vega

He is trying to save his stinking rear.

In the real world no one takes the recall seriously. It’s a joke. Stay off parlor and Fox News and you’d learn to laugh at it too. It takes dedicated brainwashing to believe the recall is going anywhere lmao

[JGC97]

Originally Posted by Dean Trails

Thank you for the great chuckle!
No, our betters in Sacramento will find creative ways to divert the surplus to unions, their cronies and other wasteful projects. Heaven forbid they might spend the cash on California infrastructure.

Well, they could try to do that but first they have to fill the obligation voters approved in 1979. Tax revenue over a certain amount MUST be returned to taxpayers. It's called The Gann Limit

https://ballotpedia.org/California_P...itiative_(1979)

What Newsom does with the rest of the money is at his own discretion.

[Ruth4Truth]

Originally Posted by T. Damon

That is pretty crazy, the high taxes definitely take a bite from the 10s of 1000s of the very high earners in the state. I hope the governor follows the mostly fiscal responsibility of his predecessor, the state still has a lot of underfunded pensions.

Yup. To spend even part of it on rebates would be irresponsible, and would look like an obvious ploy to buy back people's loyalty in the middle of a recall.

If he doesn't know what to do with it , he should invest part of it for growth, so the state will have an emergency fund when needed. Like Norway does with their oil wealth, though I'm not comparing CA with wealthy and sensible Norway...

[Tulemutt]

Originally Posted by Ruth4Truth

Yup. To spend even part of it on rebates would be irresponsible, and would look like an obvious ploy to buy back people's loyalty in the middle of a recall.

If he doesn't know what to do with it , he should invest part of it for growth, so the state will have an emergency fund when needed. Like Norway does with their oil wealth, though I'm not comparing CA with wealthy and sensible Norway...

... heaven forbid!

[OyCrumbler]

Originally Posted by Ruth4Truth

Yup. To spend even part of it on rebates would be irresponsible, and would look like an obvious ploy to buy back people's loyalty in the middle of a recall.

If he doesn't know what to do with it , he should invest part of it for growth, so the state will have an emergency fund when needed. Like Norway does with their oil wealth, though I'm not comparing CA with wealthy and sensible Norway...

It would have been pretty fantastic if CA had put away a good deal of oil money into a sovereign wealth fund.

[Elliott_CA]

Originally Posted by OyCrumbler

It would have been pretty fantastic if CA had put away a good deal of oil money into a sovereign wealth fund.

Unlike Norway, California has never been able to enact a law to collect a wellhead or severance tax on oil or gas. Numerous bills have been introduced but the oil lobbyists always kill them. Prop 87 was put to the voters and of course the oil industry ran scare ads saying it was going to raise gas prices. It lost 55-45. Even red states like Texas have wellhead taxes.

So yeah, oil companies here suck the oil out of the ground nearly tax free then have the nerve to charge us some of the highest gasoline prices in the nation, consistently.

[2sleepy]

Originally Posted by Finper

Money for all except most of the people on unemployment.... ya know the ones that really need it

If you know someone in California who is supposed to be receiving unemployment but they aren't getting it, have them call their state legislator (assembly or senate) they have EDD liaisons and most issues are resolved within a week. You might also refer them to Reddit/EDD there's a lot of good info there

[2sleepy]

Originally Posted by Ruth4Truth

Yup. To spend even part of it on rebates would be irresponsible, and would look like an obvious ploy to buy back people's loyalty in the middle of a recall.

If he doesn't know what to do with it , he should invest part of it for growth, so the state will have an emergency fund when needed. Like Norway does with their oil wealth, though I'm not comparing CA with wealthy and sensible Norway...

State law requires that part of a large surplus is to be returned to taxpayers, and another law requires that a certain amount be put into a rainy day fund. I don't doubt that he's sending out checks now to get support for a no vote on the recall, but isn't Faulconer playing the same game by promising that individuals earning under 50k will have pay no state income tax if he is Governor? https://www.marketwatch.com/story/wi...rs-01620691772

[JGC97]

Originally Posted by 2sleepy

State law requires that part of a large surplus is to be returned to taxpayers, and another law requires that a certain amount be put into a rainy day fund. I don't doubt that he's sending out checks now to get support for a no vote on the recall, but isn't Faulconer playing the same game by promising that individuals earning under 50k will have pay no state income tax if he is Governor? https://www.marketwatch.com/story/wi...rs-01620691772

No. Not the same game. He's making a campaign promise to eliminate taxes to anyone making below 50k and that's for single filers. For a couple, that amount is 100K dollars (not too shabby on that). And the governor is obligated to return that money to taxpayers, as you stated. The thing about that is he doesn't have to do it now or even next month or year. Kind of makes you wonder why now?

It doesn't matter anyway because he's won't be recalled but his rating in the past week has increased so now I'm wondering if it has anything to do with his promise to send taxpayers money. These clowns think their so smart.

Bribery abounds. Here in Lodi, if you agree to get the vaccine shot, the city will give you a $25 credit on your utility bill. And the credit can be multiplied if there are more members in the family. They sure are getting creative.