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California has a $9b surplus

Posted on 6/15/18 at 11:36 pm
Posted by BeepNode
Lafayette
Member since Feb 2014
10005 posts
Posted on 6/15/18 at 11:36 pm
quote:

California is riding a wave of economic growth that has produced the largest surplus since at least 2000. Even the most conservative forecast pegs the surplus at nearly $9 billion.


Their success kind of goes against the more libertarian values I extol but I'm glad it's working out. Like it or not Cali's culture of STEM innovation is a major part of what makes America great.

LINK
Posted by rickyh
Positiger Nation
Member since Dec 2003
12459 posts
Posted on 6/15/18 at 11:39 pm to
Good, then they don't need any federal money. Maybe they should give some to the people eating out of the garbage and living on the streets.
Posted by Taxing Tiger
Member since Mar 2013
635 posts
Posted on 6/15/18 at 11:40 pm to
What about their unfunded pension obligations?
Posted by TrueTiger
Chicken's most valuable
Member since Sep 2004
67893 posts
Posted on 6/15/18 at 11:44 pm to
If you have a surplus, you owe the people a tax rebate.
Posted by dewster
Chicago
Member since Aug 2006
25346 posts
Posted on 6/15/18 at 11:47 pm to
Sounds like California is enjoying the Trump economy.
Posted by starsandstripes
Georgia
Member since Nov 2017
11897 posts
Posted on 6/15/18 at 11:55 pm to
Also, they are woefully behind in infrastructure improvements and many other areas, which they've ignored for the sake of shifting dollars to illegals.
They have at least two cities that have had to file for bankruptcy.
And they have somewhere close to $400 billion in unfunded liabilities.
CA is a disaster and will soon come crawling to the federal govt asking for a bailout.
Posted by aggressor
Austin, TX
Member since Sep 2011
8714 posts
Posted on 6/15/18 at 11:55 pm to
Sounds like the liberals there need to come up with more spending programs and tax those evil rich people even more. Oh, and don't put away a dime for all the unfunded pensions that are going to collapse. Top suggestions:

1. Free college for everyone!
2. More illegal alien incentive programs!
3. Build lavish nee homes for the homeless!

What could go wrong?
Posted by BeepNode
Lafayette
Member since Feb 2014
10005 posts
Posted on 6/15/18 at 11:57 pm to
quote:


What about their unfunded pension obligations?



Some went towards it but Republicans wanted a larger amount. I'm not 100 percent positive but I think a large chunk of the UALs, even in CALpers, are local governments and not state.

The biggest way they're screwing up is in how unreasonably high they set discount rates on those liabilities. No private sector system would do that. That shouldn't even be a partisan issue.
Posted by DavidTheGnome
Monroe
Member since Apr 2015
29166 posts
Posted on 6/15/18 at 11:58 pm to
quote:

If you have a surplus, you owe the people a tax rebate.



I do agree with this but I would call for a vote on it, with the only two options being refund or put into a rainy day fund.
Posted by BeepNode
Lafayette
Member since Feb 2014
10005 posts
Posted on 6/15/18 at 11:59 pm to
quote:

Also, they are woefully behind in infrastructure improvements


Ever been to Louisiana?
Posted by bigbowe80
Baton Rouge
Member since Mar 2007
3704 posts
Posted on 6/16/18 at 12:02 am to
Now do the actual debt in California, not just this past fiscal years surplus, the actual overall debt.

Posted by starsandstripes
Georgia
Member since Nov 2017
11897 posts
Posted on 6/16/18 at 12:02 am to
quote:

Ever been to Louisiana?



Sorry, I must have missed the word 'Louisiana' in the thread title.
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69294 posts
Posted on 6/16/18 at 12:03 am to
Plenty of states have surpluses, both blue and red

plenty of states have deficits, both blue and red

It is tiring when people try to use state level performance juxtaposed with state level political orientation to make a connection.
Posted by Smart Post
Member since Feb 2018
3539 posts
Posted on 6/16/18 at 12:08 am to
quote:

The biggest way they're screwing up is in how unreasonably high they set discount rates on those liabilities. No private sector system would do that. That shouldn't even be a partisan issue.

They don't plan on paying the pensions. Hence, this is all a sham.
Posted by lsuconnman
Baton rouge
Member since Feb 2007
2659 posts
Posted on 6/16/18 at 12:13 am to
quote:

Good, then they don't need any federal money.


Did you know Cali’s federal tax burden funds Louisiana’s largesse?
Posted by Shiftyplus1
Regret nothing that made you smile
Member since Oct 2005
13347 posts
Posted on 6/16/18 at 12:18 am to
They have a BUDGET surplus this year. They're almost $500 billion in the hole otherwise.
This post was edited on 6/16/18 at 12:44 am
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
69294 posts
Posted on 6/16/18 at 12:18 am to
quote:

Did you know Cali’s federal tax burden funds Louisiana’s largesse?
Oh god, here we go again... 'muh blue states fund muh red states'

You guys are hypocrites.

you claim you love a progressive tax system, yet bitch when it does exactly what it is designed to do: punish rich and reward the poor. A progressive income tax system will hurt rich states and help poor states..... that is literally the principle behind it.
Posted by rintintin
Life is Life
Member since Nov 2008
16178 posts
Posted on 6/16/18 at 12:18 am to
I surely would hope so considering they house some of the largest corporations in the world, have some of the most expensive real estate in the world, and tax the frick out of everything living.

Posted by mizzoubuckeyeiowa
Member since Nov 2015
35498 posts
Posted on 6/16/18 at 12:18 am to
9 billion and yet no water.

Drive up and down I5 and signs galore of farmers bitching at the government.

But they have enough money and water to constantly build golf courses at a rate only Florida can beat.

There is a County in California that has 6 golf courses within 40 square miles...two of them world famous.

And the State says no water at restuarants...hotels? recycle your own towels...slo-fo showers, slo-fo toilets.

Everything in California is conservation unless it's golf and wine.

State has gone wine crazy, every city up and down the coast now advertisies as Wine Country.

The water issue will never go away.
Posted by AUstar
Member since Dec 2012
17020 posts
Posted on 6/16/18 at 12:19 am to
quote:

Like it or not Cali's culture of STEM innovation is a major part of what makes America great


STEM carries that state. Without it, Cali ain't shite.
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