California’s tax income is dropping and unemployment is rising

[Saltwater60]

I knew it would come and the republicans need to capitalize on this saying this is the democrats fault for spending too much money to far too long. The increase in the interests rates are causing this.

California Sees Warning Sign From Weak Tax Revenue Collections

California drew in 11% less in personal income tax revenue than it expected so far this year, the latest warning sign for the finances of a state whose fortunes are closely tied to the performance of markets.

www.bloomberg.com

 

[Michael]

Anybody else see this in NYs future? I can't wait to see how they blame it on the weather.

 

[Saltwater60]

Anybody else see this in NYs future? I can't wait to see how they blame it on the weather.

It’s already happening. It has to be with the population loss alone. I’d also assume Wall Street is making less since the stock market is down 25% this year.

 

[99cummins]

You mean those fine folks shooting up heroin on the sidewalk then dropping a deuce aren’t paying their fair share…

 

[Jmac00]

as more people exit these states, the worse this is going to get. By 2030, Mexifornia is going to be broke, followed closely by NY

Marijuana tax isn't going to save them. The street price is still below .gov price, although the .gov quality is better, but its simple economics

 

[SomeSoldier]

That's what happens when you have more taking money then making money.

 

[Dr. Evil]

So this is good, right?

 

[spat]

as more people exit these states, the worse this is going to get. By 2030, Mexifornia is going to be broke, followed closely by NY

Marijuana tax isn't going to save them. The street price is still below .gov price, although the .gov quality is better, but its simple economics

If they were smart they would drop the tax rate and increase the tax revenue by getting 99% of the market.

This would have the added benefit of eliminating the black market and all the associated crime.

 

[Acer-m14]

i thought Cali and NYS is broke and has been for years ...

 

[Grimscale]

i thought Cali and NYS is broke and has been for years ...

They still claim they are so overwhelmingly tax positive that excess taxes from these two states helps the poor, downtrodden RED states from going banckrupt.