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Started By
Message
Market boom has directly translated to a balanced CA budget with a huge reserve ($34B)
Posted on 1/8/21 at 1:42 pm
Posted on 1/8/21 at 1:42 pm
quote:
Wow. Turns out that the market boom has directly translated to a balanced California budget with a huge reserve ($34B?).
I guess tying the state budget to capital gains taxes continues to work as long as Silicon Valley delivers...
quote:
apparently surprise this year but from I gathered ONLY this year - plan looks like deficits thereafter & anecdotally I don't think CA gov has internalized just how many of that 1% cohort have moved out or plan to
quote:
I doubt it will be material. The really big number is having a huge number of Apple / Google / etc employees vesting RSUs at high prices. We love to talk about IPO windfalls, but the aggregate dollar amounts of Apple going from $500B to $2T are staggering.
LINK
Related news articles:
Pandemic's uneven impact highlight California budget issues
Budget ‘windfall’ in California as economy weathers virus
14
Posted on 1/8/21 at 1:43 pm to saintforlife1
and they can thank President Trump 
Posted on 1/8/21 at 1:49 pm to saintforlife1
Will they use that 34 Billion to save all the small businesses their lockdown policies have destroyed?
Hell no
Hell no
Posted on 1/8/21 at 1:49 pm to saintforlife1
And they're leaving by the hundreds of thousands
Posted on 1/8/21 at 1:54 pm to FLBooGoTigs1
quote:
and they can thank President Trump
And Apple, Tesla, etc.
Posted on 1/8/21 at 1:55 pm to RebelExpress38
quote:
Will they use that 34 Billion to save all the small businesses their lockdown policies have destroyed?
They should put that in a rainy day fund and start lowering taxes across the board.
Posted on 1/8/21 at 1:55 pm to RebelExpress38
That money is for free this and that for illegals.
Posted on 1/8/21 at 1:56 pm to saintforlife1
I have a number of clients who are CA residents, who worked for companies that have had IPOs in the last year or two. The RSUs vest at the time of the IPO, and some of them have been able to sell some shares as well.
People who normally make 150K a year are having a year with over a million in income, due to this.
People who normally make 150K a year are having a year with over a million in income, due to this.
Posted on 1/8/21 at 1:58 pm to saintforlife1
and yet the OT will continue to claim CA is a shithole and LA is paradise on Earth
Posted on 1/8/21 at 2:11 pm to saintforlife1
Good.
They should pay for their own "stimulus" and extra unemployment.
They should pay for their own "stimulus" and extra unemployment.
Posted on 1/8/21 at 2:16 pm to dandyjohn
quote:
and they can thank President Trump
nah, if it happened this year it's biden's responsibility. i learned that from your very own posts.
you can't have it both ways dipshit.
You do realize that Biden hasn’t even taken office yet.
Posted on 1/8/21 at 2:20 pm to saintforlife1
You can't tax your way to fiscal responsibility. As with all things financial, it's all about SPENDING. Glad they got lucky this year, but ultimately, they have a failing model.
Posted on 1/8/21 at 2:22 pm to dandyjohn
quote:
nah, if it happened this year it's biden's responsibility. i learned that from your very own posts.
you can't have it both ways dipshit.
You might be right...if Biden had already been sworn in 
Posted on 1/8/21 at 2:22 pm to saintforlife1
So they were very good at stealing. Got it.
Posted on 1/8/21 at 2:29 pm to dandyjohn
quote:
i learned that
We learned from Obama that everything successful is Trump's to claim all the way until it tanks and then it will be Joe's and the Ho's.
Posted on 1/8/21 at 2:31 pm to saintforlife1
And they’ll need every penny to continue to spend billions annually on illegal immigrant healthcare and schooling
Posted on 1/8/21 at 2:44 pm to LSUFanHouston
quote:
I have a number of clients who are CA residents
I hate preparing California tax returns.
Posted on 1/8/21 at 2:47 pm to saintforlife1
You do realize California is Trillions in debt from pensions.
When your trillions in hole, billions in bank isn't a surplus. More Liberal math.
When your trillions in hole, billions in bank isn't a surplus. More Liberal math.
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