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There's more to United States than just California . . . .
Possibly because for most of last year, gas was at $4.00/gallon, old oil wells were being opened in East Texas because they were suddenly profitable again, and taxes from oil companies were pouring into the treasury.
Not just east Texas. There are a lot of wells in west Texas, too.
I don't see your point, since it does nothing to offset that I'm correct.
Life is not measured by the number of breaths you take, but by the moments that take your breath away.
"Hating America is something best left to Mobius. He is an expert Yank hater.
He also hates Texans and Australians, he does diversify." ~ Braindead
The fact is that over the last 5 years, state tax revenues increased a whole lot more than the rate of growth of the underlying economy. Most states dutifully beefed up government services to match the outsized increase in revenues.
Generally, states don't have a very diversified tax base, so when real estate taxes of various sorts and capital gains taxes plummeted, the states found themselves bringing in a lot less money on the whole and having to scramble to cut services.
None of this is a real crisis. States will just have to live within their means, like they always do. A longer-term goal would be to broaden the tax base. California especially needs to do this. Or set some money aside for a rainy day fund. But raising taxes only compounds the problem.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
California has by no means been unduly limited in its revenues, it has consistantly been among the high tax states for the last 20 years, running from #2 to #11 in highest per capita tax revenues (state and local sum total) over that period, and prop 13 did not even limit property taxes all that much, whith the total prop taxe revenues (mostly local) in the state increasing of 400% since prop 13 was passed, much faster than population.
California's problem has been spending, spending, spending.
Gaius Mucius Scaevola Sinistra
Japher: "crap, did I just post in this thread?"
"Bloody hell, Lefty.....number one in my list of persons I have no intention of annoying, ever." Bugs ****ing Bunny
From a 6th grader who readily adpated to internet culture: "Pay attention now, because your opinions suck"
I heard Texas added more jobs this last year then the rest of the nation combined.
53% of the jobs added in the nation was the figure, I do not recall what the source or methodology was for obtaining this figure, so I am not endorsing it as fact. It sounds like some sort chamber of commerce blurb.
Gaius Mucius Scaevola Sinistra
Japher: "crap, did I just post in this thread?"
"Bloody hell, Lefty.....number one in my list of persons I have no intention of annoying, ever." Bugs ****ing Bunny
From a 6th grader who readily adpated to internet culture: "Pay attention now, because your opinions suck"
I wouldn't be surprised. Texas has it's head on straight.
The reason people make fun of y'all is because they are jealous.
Scouse Git (2)La Fayette Adam SmithSolomwi and Loinburger will not be forgotten.
"Remember the night we broke the windows in this old house? This is what I wished for..."
2015 APOLYTON FANTASY FOOTBALL CHAMPION!
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