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  • The rich are fleeing Ca.

    From ScottW@21:1/5 to All on Sun Apr 30 09:35:55 2023
    and the people moving in....
    are undercounted cuz I guarantee most of them DONT FILE TAXES.

    But those who do..are half in number and make half of those who left so the result is a 75% loss in taxable income and the revenue loss is far greater as new arrivals income tax will be close to Zero after deductions and credits.
    It could actually be a net negative on the arrivals.

    https://www.thecentersquare.com/california/article_7b56a332-e5fb-11ed-9c8c-4f2990ca4a6f.html

    Right now a dem on dem war is raging in Sactown over how to deal with a looming and rapidly growing deficit.
    Newsom doesn't want to raise taxes as he continues to eye the national political landscape while dem legislators want to hike business taxes almost assuring worsening deficits in the future as even more business will flee.
    It's cuts vs increases vs drawing on the reserve. I don't see any agreement and the reserve isn't going to last long at this deficit level.
    Add to this that we haven't even technically gone into recession....yet.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to ScottW on Sun Apr 30 13:46:40 2023
    On Sunday, April 30, 2023 at 12:35:57 PM UTC-4, ScottW wrote:
    and the people moving in....
    are undercounted cuz I guarantee most of them DONT FILE TAXES.

    But those who do..are half in number and make half of those who left so the result is a 75% loss in taxable income and the revenue loss is far greater as new arrivals income tax will be close to Zero after deductions and credits.
    It could actually be a net negative on the arrivals.

    https://www.thecentersquare.com/california/article_7b56a332-e5fb-11ed-9c8c-4f2990ca4a6f.html

    Right now a dem on dem war is raging in Sactown over how to deal with a looming and rapidly growing deficit.
    Newsom doesn't want to raise taxes as he continues to eye the national political landscape while dem legislators want to hike business taxes almost assuring worsening deficits in the future as even more business will flee.
    It's cuts vs increases vs drawing on the reserve. I don't see any agreement and the reserve isn't going to last long at this deficit level.
    Add to this that we haven't even technically gone into recession....yet.

    ScottW

    and you haven't even factored in upcoming reparations.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Fascist Flea@21:1/5 to All on Sun Apr 30 14:33:38 2023
    RAO's premier Dirty Jew is really just a schnorrer.

    and you haven't even factored in upcoming reparations.

    Take it up with the Nazis.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to Fascist Flea on Sun Apr 30 20:07:50 2023
    On Sunday, April 30, 2023 at 5:33:40 PM UTC-4, Fascist Flea wrote:
    RAO's premier Dirty Jew is really just a schnorrer.

    and you haven't even factored in upcoming reparations.

    Take it up with the Nazis.

    I am! I'm taking it up with you.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)