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California tax revenue is collapsing while tax revenue is surging in Progressive Texas.
Hard for anywhere to emulate the best public servants in history like Greg Abbott, Dan Patrick, President Trump.
Ironic, how zero income tax and less worthless regulations means business rushes in which causing tax revenues to skyrocket.
California on the other is overly reliant on the stock market for much of it's revenues. It was a party for them for several years, but it all collapses when the stock market doesn't increase.
Just a bad month for the stock market sent revenues collapsing by 5 billion in California.
Because of President Trump's energy policies, Texas severance taxes are up 50% and the schools will have a tsunami of severance tax money flowing in.
California on the other hand, had a big collapse in revenue because the stock market had one bad month.
Will be interesting what happens when the next recession arrives. They have over a trillion in debt and unfunded pension liabilities also that they will have to ramp up spending on quickly.
Maybe it's time for California to do what Wyoming, South Dakota, New Hampshire, Washington, Texas and Florida do and eliminate state income taxes.
Interesting how the state is so reliant on a small number of ultra-wealthy paying capital gains and dividend taxes that if the stock market doesn't increase the revenue number plummet.
The price to sales ratio is 50% long-term average, and the Schiller CAPE index is still nearly double historical averages
California has a robust economy because it is diversified across so many sectors.
Texas is a one-trick pony. They do oil and gas, and that's just about it.
No reason for a state income tax anyway in California.
Every penny of the state income tax is unneeded. Texas has no state income tax and does a much better job than California could ever dream of.
The safety-net programs are a sham and full of fraud. The safety-net programs are mainly safety-net's for overpaid California state employees and illegal aliens.
Many times the number of people falling through the cracks of society in California as opposed to Texas.
Many of the University of California hospitals are third-world dumps with massive amounts of neglect and epidemic of pressure ulcers from neglectful highly compensated California state employees
California has a robust economy because it is diversified across so many sectors.
Texas is a one-trick pony. They do oil and gas, and that's just about it.
A right triangle has two sides and one hypotenuse
We're talking about things that have nothing to do with the OP's post, right?
This document you linked to pretty much inferred it is the TRADE WAR that is costing the CA tax revenue shortfall.
So WTF is this thread doing here?
.
I will take President Trump's trade policies over California's China first.
Would love to see import port volumes in collapse in California. That's a sign of a good economy
California just tries to blame it's own failures on President Trump.
California Democrats want a China first trade policy. Middle-American men and women working in manufacturing, goods-producing, mining and agriculture they think are way beneath them.
California elites love to taunt and laugh at manufacturing, farming, good-producing and mining jobs. They want a service based economy based on debt hustling, finance transactions, big government spending, acting, lots of fake ultra-low success rate health research just to get capital to spend on luxury items.
What does California want no tarriff's and huge trade deficits?
The countries that are very successful over the long-term have big trade surpluses. President Trump just wants fair trade and level-playing field.
California just hates middle-American manufacturing and mining jobs. California doesn't want a level playing field and fair trade because California wants to punish middle-American manufacturing workers for voting for President Trump.
We're talking about things that have nothing to do with the OP's post, right?
It has everything to do with OP's post. OP is posting the same old tired California-bashing that conservatives do.
California is No. 1 in GDP in the United States by far. Our mix of liberalism and capitalism WORKS. And that gives some conservatives heartburn, so they bash California. Whatever.
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