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California Economy - Page 2

California in 'fiscal emergency'

Governor Arnold Schwarzenegger declares a fiscal emergency in California to deal with a $24.3bn (£14.5bn) deficit. Ref. Source 9

Economy California

California passes key budget deal

California lawmakers pass a plan to close a huge budget deficit and send the package to Governor Arnold Schwarzenegger. Ref. Source 6

California Economy History & Civil Business Politics

Stimulus hits home

At least $1.77 billion in federal stimulus money is headed to projects and programs in San Diego County, from the trolley in San Ysidro to bus lanes in Oceanside to gang suppression in Lemon Grove. Projects include small purchases, such as a $9,649 wood chipper for Fort Rosecrans National Cemetery, and major undertakings, such as a $563 million hospital at Camp Pendleton. Ref. Source 2

Page 2 Economy California

The main problem with the Cali economy is the green switch. Wanting to invest all their money in the conversion process is hitting them hard and they are paying more for it. They have an abundance of natural resources that could bring them in black within a few months but they rather worry about global warming and keeping conservationists happy.

Economy California

What about all the illegal immigrants that are getting free medical care and welfare all on the tax payer money. I know that does not help the economy out west either.

California Economy

Even higher taxes coming for Californians:

For only the second time in 30 years, the tax board is lowering the point where each tax bracket begins, bumping many people into a higher category. At the same time, officials are cutting back some deductions. Everyone will pay more, even people whose bracket or income doesn't change. Ref. Source 1

California Economy - Page 2

That is really disgusting. Although inflation is low, it is still there, and still having its devastating effects. One of those effects is that as the average income raises with inflation, it moves everyone up in tax brackets. What they are now doing is accelerating the process.

I know that California is run by far-left liberals, but you would think by now that they would realize that the inevitable result of higher taxes is reduced revenues as people change their behavior. The state has already driven much of its high-tax revenue producers out of the state (manufacturing industry), and now they are going to continue to drive more out?

I wonder why so many Californians now live in places like Utah, Arizona, and Colorado. Could this be part of the reason?

California Economy Politics Business Civil & History - Page 2

Amidst California Fiscal Crisis and Political Gridlock, Scholar and Activist George Lakoff Proposes Ballot Measure to End 2/3 Rule in State Legislature

As California struggles with a crippling $21 billion project deficit, professor and progressive activist George Lakoff has submitted a 2010 ballot proposition that would roll back the two-thirds majority needed to pass a budget and, he says, end the gridlock created by minority rule. Ref. Source 5