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The Governor raised taxes by $13 billion in 2009. Even with that, the added revenues, the total revenues were DOWN by$16.4 billion. Can you spell Depression?
Now, local governments also have massive losses of property tax revenues. See story here.
"The big drop in income tax revenue 20.4 percent, compared to 13.9 percent for all 50 states combined again showed the volatility of Californias state income tax collections. The taxes rise sharply and are quickly spent during booms; but then crash sharply during recessions, causing immense deficits."
The income drop show the lack of jobs and the affect of high taxes and AB 32. Income revenue dropped by one fifth in a year--does anybody want to figure out why? First stop blaming others, like the Feds--start looking at the massive tax increases. We raised sales tax to GAIN revenues--instead sales tax revenues were down over 14% (and that includes the increased rates) last year.
Tax policy is killing the families of California. Take responsibility. spending policy is killing California, end the union ownership of California government.
It is up to us.
More...
Now, local governments also have massive losses of property tax revenues. See story here.
"The big drop in income tax revenue 20.4 percent, compared to 13.9 percent for all 50 states combined again showed the volatility of Californias state income tax collections. The taxes rise sharply and are quickly spent during booms; but then crash sharply during recessions, causing immense deficits."
The income drop show the lack of jobs and the affect of high taxes and AB 32. Income revenue dropped by one fifth in a year--does anybody want to figure out why? First stop blaming others, like the Feds--start looking at the massive tax increases. We raised sales tax to GAIN revenues--instead sales tax revenues were down over 14% (and that includes the increased rates) last year.
Tax policy is killing the families of California. Take responsibility. spending policy is killing California, end the union ownership of California government.
It is up to us.
More...