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The Top Four Reasons California Is Unsustainable (Forbes magazine)
Posted on 6/20/19 at 3:00 pm
Posted on 6/20/19 at 3:00 pm
Things are so bad I've moved my retirement up by at least a year just to get out of this hellhole.
forbes.com
quote:
California is a place unlike any other on the Globe. It boasts perhaps the greatest natural resources of any state along with shining high-tech industries. However, like many good economic stories, government policies threaten its future. Indeed, its government has made California unsustainable.
Of course, it wasn’t always this way. As the 1960s came to a close in California, it had a population of nearly twenty million. In the decade before, its economic strength afforded the construction of a vast State Water Project and higher education system that was the envy of the world. Matched with a majestic and trade friendly coastline, along with visionary business leaders, California’s future seemed secured.
No more – and here are the four major reasons California is at such great risk.
3. Government Debt
How much in debt are the California governments? That’s hard to know too. According to a January 2017 study, “California state and local governments owe $1.3 trillion as of June 30, 2015.” The study was based on “a review of federal, state and local financial disclosures.”
In other words, that $1.3 trillion in debt is the amount to which California governments admit. Other studies believe it to be more. Indeed, one study says it is actually $2.3 trillion and a recent Hoover Institute stated that there is over $1 trillion in pension liability alone, or $76,884 per household. Incredibly, there are 4 million current pension beneficiaries, a number that continues to grow and which exceeds the total population of 22 states.
What’s the right number? Apparently, it is so large it is hard to accurately estimate. In every case, the number is staggering.
forbes.com
Posted on 6/20/19 at 3:04 pm to L.A.
5. Earthquakes.
6. A never-ending cycle of drought, followed by the ensuing wildfires, followed by rain and the ensuing mudslides. Lather, rinse, repeat.
Texas on line one.
Speaking of, if your company has an office in Texas, why not get them to relocate you, pay for the move, then come to paradise? (We need you to counterbalance all the liberals trying to turn us blue)
6. A never-ending cycle of drought, followed by the ensuing wildfires, followed by rain and the ensuing mudslides. Lather, rinse, repeat.
quote:
It boasts perhaps the greatest natural resources of any state
Texas on line one.
Speaking of, if your company has an office in Texas, why not get them to relocate you, pay for the move, then come to paradise? (We need you to counterbalance all the liberals trying to turn us blue)
This post was edited on 6/20/19 at 3:06 pm
Posted on 6/20/19 at 3:05 pm to L.A.
quote:
On the other hand, for more than a decade, less than 150,000 of California’s 35+ million people pay half of all of its income tax – a highly imbalanced system.
Posted on 6/20/19 at 3:10 pm to idlewatcher
quote:
On the other hand, for more than a decade, less than 150,000 of California’s 35+ million people pay half of all of its income tax – a highly imbalanced system.
Posted on 6/20/19 at 3:17 pm to Quidam65
quote:We both love Texas and could live there happily, but we've decided to stay out West since all three of our adult children and our grandchildren still live in California. We've narrowed the focus to Boulder City, Nevada and St George, Utah.
Speaking of, if your company has an office in Texas, why not get them to relocate you, pay for the move, then come to paradise? (We need you to counterbalance all the liberals trying to turn us blue)
Posted on 6/20/19 at 3:25 pm to idlewatcher
quote:
On the other hand, for more than a decade, less than 150,000 of California’s 35+ million people pay half of all of its income tax – a highly imbalanced system.
Make them pay their fair share.
Posted on 6/20/19 at 3:39 pm to L.A.
quote:
On the other hand, for more than a decade, less than 150,000 of California’s 35+ million people pay half of all of its income tax – a highly imbalanced system.
Holy shite! Using Cali's 2018 revenues, that comes out to each one of those 150,000 people paying around $335k in taxes each.
Posted on 6/20/19 at 3:43 pm to L.A.
quote:
How much in debt are the California governments? That’s hard to know too. According to a January 2017 study, “California state and local governments owe $1.3 trillion as of June 30, 2015.” The study was based on “a review of federal, state and local financial disclosures.”
In other words, that $1.3 trillion in debt is the amount to which California governments admit. Other studies believe it to be more. Indeed, one study says it is actually $2.3 trillion and a recent Hoover Institute stated that there is over $1 trillion in pension liability alone, or $76,884 per household. Incredibly, there are 4 million current pension beneficiaries, a number that continues to grow and which exceeds the total population of 22 states.
What’s the right number? Apparently, it is so large it is hard to accurately estimate. In every case, the number is staggering.
This always blows my mind. No one knows. Its a great mystery. And people wonder why the government is hated so much. Try getting away with some shite like this as a regular person. Hey, banky mcbankface, I have know idea how much I owe you. Lets call it $100 for now, mmk? Sure bro. no worries pay me when you can.
Posted on 6/20/19 at 4:04 pm to L.A.
1 - Mad Max
2 - Kamala
3 - Swallows-a-lol
4 - the newest shitbag Gov
2 - Kamala
3 - Swallows-a-lol
4 - the newest shitbag Gov
Posted on 6/20/19 at 4:16 pm to L.A.
My godparents have lived in Cali for the past 30 years. They've always loved it. They are taking a trip to Florida this weekend to look for a new home. California is quickly crashing, and they're getting out while the getting's good.
Posted on 6/20/19 at 5:13 pm to L.A.
I’ve said this for years about my home state of birth.
There is no way the socialist society can sustain itself. Also, the claim they can rid the country of 1%’ers is laughable. They are just as prominent in a socialist Marxist society.
What has and does make our society better is a strong and vibrant middle class society that rewards people for effort, frugality, etc.
The left in their attempt to equalize wealth have really been targeting the middle class. That is who is hurt the most in all of their ideologies.
Creating classes, poverty, wealthy, and ruling.
It’s unreal how many liberal voters cannot see the fallacy of the ideas and policies they support.
There is no way the socialist society can sustain itself. Also, the claim they can rid the country of 1%’ers is laughable. They are just as prominent in a socialist Marxist society.
What has and does make our society better is a strong and vibrant middle class society that rewards people for effort, frugality, etc.
The left in their attempt to equalize wealth have really been targeting the middle class. That is who is hurt the most in all of their ideologies.
Creating classes, poverty, wealthy, and ruling.
It’s unreal how many liberal voters cannot see the fallacy of the ideas and policies they support.
Posted on 6/20/19 at 5:34 pm to L.A.
quote:
but we've decided to stay out West since all three of our adult children and our grandchildren still live in California
Sounds like their firms need to relocate them to Texas. That way you can come back too.
Posted on 6/20/19 at 5:49 pm to Wally Sparks
On the other hand, for more than a decade, less than 150,000 of California’s 35+ million people pay half of all of its income tax – a highly imbalanced system.
wasn't there a link on here about how Cali has by far the most people on the dole/Medicaid and all of that.
SO so many people are siphoning on the big teet of the government and a handful of folks ( relatively speaking) are paying for it all
wasn't there a link on here about how Cali has by far the most people on the dole/Medicaid and all of that.
SO so many people are siphoning on the big teet of the government and a handful of folks ( relatively speaking) are paying for it all
Posted on 6/20/19 at 5:53 pm to L.A.
It's sad and pathetic all rolled up into one. Beautiful, dry, Mediterranean
weather, dramatic landscapes, huge mountains with feet of snow or oceans and desert.. It has every landscape in the country all in one state.. and they're destroying it and turning it into one giant socialist shithole. My family is in the process of trying to get me to move back (South Orange County specifically) and I want absolutely nothing to do with it.
My dad and his wife have done very well over the last decade with a Medical supply & distribution/logistics company and have even offered to help us pay for a home with a good school district, use their contacts to help me find a great job and even help us pay off what we still owe on my home in Knoxville so that we can rent it out in order to use it as an additional revenue stream. Extremely generous gestures..
and we still want nothing to do with moving back out there. I actually miss the desert and contemplate moving back out West from time to time, but unfortunately it will never be back to Southern California. That ship has sailed outside of the yearly vacations to be with family.
weather, dramatic landscapes, huge mountains with feet of snow or oceans and desert.. It has every landscape in the country all in one state.. and they're destroying it and turning it into one giant socialist shithole. My family is in the process of trying to get me to move back (South Orange County specifically) and I want absolutely nothing to do with it.
My dad and his wife have done very well over the last decade with a Medical supply & distribution/logistics company and have even offered to help us pay for a home with a good school district, use their contacts to help me find a great job and even help us pay off what we still owe on my home in Knoxville so that we can rent it out in order to use it as an additional revenue stream. Extremely generous gestures..
and we still want nothing to do with moving back out there. I actually miss the desert and contemplate moving back out West from time to time, but unfortunately it will never be back to Southern California. That ship has sailed outside of the yearly vacations to be with family.
This post was edited on 6/20/19 at 5:57 pm
Posted on 6/20/19 at 6:19 pm to TRUERockyTop
The bad thing is the cretins fleeing the place go and ruin the places they flee to by voting socialist. They haven't learned a damn thing.
Posted on 6/20/19 at 7:38 pm to L.A.
quote:
there is over $1 trillion in pension liability alone, or $76,884 per household. Incredibly, there are 4 million current pension beneficiaries, a number that continues to grow and which exceeds the total population of 22 states.
This happens when you have too many state workers.
Posted on 6/20/19 at 7:43 pm to Quidam65
quote:
Texas on line one.
Texas is well on the way to following California's lead in going from best to worst....book it
Posted on 6/20/19 at 9:59 pm to L.A.
quote:
We both love Texas and could live there happily, but we've decided to stay out West since all three of our adult children and our grandchildren still live in California. We've narrowed the focus to Boulder City, Nevada and St George, Utah.
My oldest daughter and her husband and kids live in Berkeley and we are basically out of touch with them. They are very very liberal progressive and see us as the opposition.
My second oldest daughter and her husband live in Tennessee. Tri-cities ... we are here visiting with them now. They're moderate liberals.
My youngest daughter and her husband and kids live in Florida. We are back and forth visiting with them and them with us all the time as well. They are moderate Conservatives as are we. Constitutional Conservatives.
My Son is still in SC in college. He's very Comservative.
Berkeley is an evil place as far as I'm concerned.
California is a shithole these days IMHO.
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