With $76B surplus, California proposes rebates for millions

https://apnews.com/article/californ...ion-business-555e6ec5ba03fa7a0eaade211df21c08

So our irresponsible government overcharged tax payers. Instead of giving it back to those that paid, it is being used to buy votes in the recall election.

Should cheated tax payers be forced to donate to his campaign?

 

How did they overcharge taxpayers?

Just last week, I saw posts saying California was a mess because of their budget deficit. Now they have a surplus and people still think their budget is a mess. This surplus seems impossible because people keep telling me rich people are moving out of the state.

 

The typical RW strategy, just like when we had the Clinton surplus: Claim that the money should be given back to the tax payers, cut taxes to the extreme, and throw us right back into red ink as far as the eye can see. And then they complain about the deficit.

That's exactly why the federal debt will never be paid back.

 

54 billion deficit 2020
Now 76 billion surplus 2021. All while people are fleeing the state, thus dropping their representation for the first time ever.

And coincidentally at the same time the governor there is facing a recall.

if this all stinks, that’s probably because it does.

 

Yes, the RW is irresponsible with our hard earned tax dollar. That is not relevant to the topic and red ink is not the result of not taxing enough; it is the result of irresponsible spending. Tax cuts have never resulted in a loss of revenue.

 

"Stink" ain't the word...Al Capone could only wished he had such skilled accountants.

 

Good luck for future public sector retirees from CA ever getting a pension.

 

Sounds sketchy. Guy is on his way out and his administration 'finds' money to give to people.

 

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I’d like an independent auditor to confirm that surplus. Newsom is facing recall and suddenly COVID restrictions are being scaled back and a miraculous “surplus” has appeared. I have to wonder how a state virtually shut down for months can generate that big a surplus. A few years ago we had a $50 billion surplus and then the Dem dominated government discovered they need a huge bond sale to fix infrastructure. Seems like that shoud have been a budgeted item.

 

Newsom is trying to buy his way out of the recall. Buying votes is the democrat way, see Obamacare, student loan forgiveness and other schemes.

 

Who told you tax cuts don’t result in a loss of revenue???
And we don’t have red ink, we have surplus according to your link.

 

He’s already doing great in the recall.
Currently, 52 percent of voters support the job Newsom is doing as governor while 43 percent say they do not. That represents the highest approval rating the governor has received in three months, the poll found

 

Capitol gains. The stock market is doing well.

 

Tax cuts have never resulted in a loss of revenue for the treasury.

We do not have a surplus; we were overcharged. They have our money and are planning on using it to buy votes for the upcoming recall election.

 

Of course tax cuts have reduced revenue.

 

Please post the year.

 

Remember those good ole days when California was claiming a massive surplus in 2019... There was never any discussion of giving that surplus back to the people of California then.. Only when Newsom is facing a recall. Matter of fact, Newsom raised taxes on the fine people of California shortly after the announcement of that 2019 surplus. Yes, Newsom is doing some creative book keeping and sending monies to his minions to, yah, support him... I mean California. Hypocrisy at it's finest!

California’s governor pushes new taxes, fees despite whopping $21.5 billion surplus

 

it was doing great under Trump as well... Matter of fact, the stock market is making absolutely zero sense and I honestly mean that in a bi-partisan way.

 

Kansas 2013-2014

 

Yah I feel the same way. How did it keep flying during Covid?

 

That is what is truly perplexing to me. Every past indicator would have stated that there would have been a correction in the market and a substantial correction, yet, it never happened... I truly don't understand it nor can many financial advisors.

 

The US treasure received $2.77 trillion in 2013 and $3.02 trillion in 2014.

 

Stock market has always been unpredictable. If it was predictable like advisors say it is, they would be billionaires.

 

I said Kansas. It’s a state....although easily forgettable. And not where the chiefs play.

 

Actually, I disagree. The market has always been predicable in regards to motives and drivers on bearish and bull markets. There have always been indicators of market shift. Granted, not 100% reliable by any stretch, however many who have investments knew when to at least redirect their portfolio.

At least until the last decade with all models needing to be thrown out the window. And just because it's predictable, does not mean you always win. However you can always at least turn a gain and hope you gains outweigh your losses.