24 percent total sales tax in California

I appreciate the anecdotal example, but you are incorrect. Everyone is not as happy as can be.

CA leads the nation in poverty. Those leaving are the earners or retirees taking their money with them. Do you think this is sustainable?

 

Of course it is, has been for decades. We have so much dough moving here because its a wonderful state that whatever cop or retired teacher leaves another rich person from back East comes in to replace them. As for poverty, we do not lead the nation in poverty.

"According to the U.S. Census Bureau, the national poverty rate was 12.4% in 2022, up from 11.2% in 2021. These states have the highest percentages of poverty in the country: Mississippi, Louisiana, West Virginia, New Mexico, Arkansas, Kentucky, Alabama, Oklahoma, Texas, and New York."

But I do agree that the rent is too damn high which contributes to the lack of upward mobility here for youngsters like my kids. Again, this comes back to real estate not some politician. People want to live here because its better to be broke in paradise than rich in a hell hole. But any youngster with parents that own properties are going to end up just fine. We have 38 million people and the 6th ? largest economy in the world.

 

You are incorrect. These earners are not being replaced by earners.

You neglected to factor in the cost of living. Common mistake. CA leads the nation in poverty,
PolitiFact | TRUE: California has the nation’s highest poverty rate, when factoring in cost-of-living

Having the 6th largest economy makes these results even more inexcusable. Abundant resources combined with high taxes equals a lower quality of life for workers.

Im not sure you understand what "sustainable" means.

 

It is sustainable as long as they have silcon valley and Hollywood. Both really distort the numbers.

 

Ok, so you found some other statistics that factors in cost of living. As I stated, the main expense all of us have here is the rent. How exactly did Newsome increase the rents for my kid on Knob Hill or my other kid in Santa Barbara? He didn't. Now you might get my attention if you blame land speculators and bad local management schemes but that is not where you went. You went to taxes.

I do my kids taxes every year. They make around 20k to 60k per year depending upon how much they declare. They pay hardly anything in state income taxes on those amounts. I am in a much higher bracket and due to Trump, end up paying the feds every tax day and getting about half of that back from California. My property tax is 1.2%. I fail to grasp how taxes affect anyone below upper middle class here in California. But do keep this up, I find it strangely cathartic.

 

Film makers are leaving Hollywood.
Tech companies are fleeing Silicon Valley as well.
The Exodus Begins: Tech Companies Leaving California in Droves (tms-outsource.com)

 

No sir. The value of ones money is in direct proportion to its spending power. If you own a business in CA, taxes are a significant part of your expenses. If you own rental property in CA, you have to pass those expenses along to your tenant. CA is not business friendly.

While your kids may not pay a lot of state income tax, they pay high sales tax, a gas tax on top of a gas tax on top of taxes disguised as registration fees, etc.

The wealthy don't get wealthy by eating loses. When their taxes are raised, they pass that cost to the consumer.

Results speak for themselves. CA has abundant resources combined with high taxes and leads the nation in poverty.


BTW, did they ever fix the crumbling roads in Carpinteria?

 

What you said is true. Back when I was hiring people in Ca, and I hired a ton of people, the folks from the old country came to work all the time and didn't complain - but they were here legally. Whites and blacks were a pain in the ass, and once Mexicans got 'Americanized' they acted just like the lazy white and black people.

 

In the words of a former LA mayor, 'they clean our toilets.'

 

Apple, google and FB are still HQ'd in CA. That's $9T generating however much they generate in tax rev right there

 

Wow, not even close..

FB AROUND 118 billion. A tad less than NINE TRILLION

 

And with all those taxes, California has a $124 Billion state budget DEFICIT. Texas, with no state income tax at all... has a $30 Billion state budget SURPLUS.

 

Los Angeles is overrun by people. Too much density. Truly, a paradise lost.

 

Drive up the California coast. You see real money. These folks aren't poor.

The CA budget deficit is $68b.

 

I call bee ess. You spent a lot of time bashing California here.

 

And then the wheel turns and a budget surplus appears.

California's huge economy is just as cyclical as the rest of the country.

 

Yes... plenty of elites with money. But the poverty rate in California is 13.2%. "In early 2023, 31.1% of residents were poor or near poor (with resources up to one and a half times the CPM poverty line), up from 28.7% in fall 2021." Source: Poverty in California - Public Policy Institute of California (ppic.org)

 

High rents and home prices are a major cause of the poverty.

 

Due to many factors outside of the control of California, our budget deficit is tied directly to high earners incomes, capital gains taxes, property taxes and sales taxes. Largest expense is education. According to this link, the deficit for 2023 is 68 billion in an economy that produces 3.8 trillion in GDP yearly. That is less than 2% of our GDP, hardly cause for alarm since a good year more than makes up for bad years.

 

And they have a fiduciary responsibility to shareholders to maximize profits. Are you taking their location for granted years from now?

 

You are incorrect. These "surplus" amounts are the result of excessive taxes and are only a symptom of the main problem. The last "surplus" was used to buy votes. People received an "inflation relief" prepaid credit card instead of a tax break.

When taxes are reduced, the worker keeps 100% of each dollar saved. When that same amount goes through the circuitous government process, it must pass through many sticky fingers before finding its way back to the worker.

CA debt continues to increase while many CA cities are on the brink of insolvency.

Money does not "appear"; it is the result of labor and risk.

 

Going to school, getting new skills, becoming a valuable employee is the answer.

 

So debt is due to success? Hmmmmm....

 

Not sure what you mean here. I tire of arguments of the demise of California because of liberals. We kick ass and take names. This very network we are using is because of California and the US government.

 

In California you can steal $900 and get the equivalent of a traffic ticket. That is "kicking ass and taking names"??? You can defecate on the sidewalks with impunity. That is "kicking ass and taking names"? "Flash mobs" can drive stores out of business. That is "kicking ass and taking names"?

HUH?