CA Tax Revenues Continue to Drop Despite Voter-Approved Tax Increases

Discussion in 'News / Current Events' started by Revmitchell, Dec 21, 2012.

  1. Revmitchell

    Revmitchell
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    On Tuesday, California released a report that revealed state tax revenues have plummeted even further below Gov. Jerry Brown’s (D) estimates, even after residents voted to increase taxes via Proposition 30 in November’s elections.

    At the end of November, “taxes were 3% short in the fiscal year that started in July,” which is “a gap of $936 million.” The state was 0.7% short a month before.

    H.D. Palmer, a spokesman for the state's Department of Finance, spun the poor numbers by saying Facebook's stock vested earlier than expected, and “boosted October taxes higher, while decreasing November revenue.”

    But the report found that tax revenues were below estimates nearly across the board, as total "year-to-date revenues are $936 million below the initial forecast."

    http://www.breitbart.com/Big-Govern...ously-After-Residents-Voted-To-Increase-Taxes
     
  2. Salty

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  3. mont974x4

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    Didn't a bunch of people leave NY because of insane tax law changes?
    Why would people think CA could have a different outcome?
     
  4. Revmitchell

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    Who knows the mind of a liberal
     
  5. Revmitchell

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  6. Salty

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    You are correct. Rush Limbaugh and Tom Golasaniano both left NY due to high taxes.

    About 60,000 New Yorkers leave NY each year due to high taxes. In addition, New York CITY imposes a City income tax (as well as sales tax) on top of NY STATE income tax!!!

    Military personnel from NY who get stationed in Fla or Tx, will make those States their legal residence - as neither has an income tax.

    Mark, you do have a point:laugh:
     

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