“WASHINGTON – A new analysis shows that California would get a whopping $21.5 billion under an economic stimulus plan that’s expected to be approved by the House next week, making it the biggest winner among the 50 states. That’s according to the National Conference of State Legislatures, which analyzed the new spending proposals offered by House leaders.”
I live in CA. It’s the worst thing that could happen because now the legislators will not fix the problems that got us into this mess. Talk about living in a welfare state.
I guess CA is too big to fail too…I agree that we have to get our budget in order, but if we do get this money, I hope it all goes to building dams and other water storage facilities…Not to bail out the bloated prison system, or any other agencies that need major overhauls…Arnold once proposed a system of spend only what you take in that year, but got run on a rail for that idea, by both sides…Looks pretty good now I guess…Basically he said that if you take in 10% less in revenue, then cut all programs by the same $$ amount… It would of course mean drastic cuts now, but that is just because the deficit has piled up on itself for so many years… So I guess we are going to go the way of the rest of the country, and spend our way out of the financial mess with borrowed money. I hope someone a lot smarter than me knows what they are doing, because I sure don’t see the light at the end of the tunnel…
As California goes,so goes the nation.
Kind of like a John Soule saying in a negative reverse.
I thought California was going to fall off into the Pacific ocean?
What the hell’s wrong with CA? I thought you guy had like the sixth largest economy in the world. Surely you can find a way to pay for gov’t services and not tax everyone to death? What is all the spending on…?
What is the income tax? What would the tax be on a 1200-1500 square foot home – 2 bed, 2 bath? Just curious.
The property tax is just a tad above 1% (don´t remember the exact fraction) over the value of the house.
That house you just described could go for $150,000.00 in Compton, $350-450K in some nice suburb, $600-$800K close to the beach in Santa Monica.
What the hell’s wrong with CA? I thought you guy had like the sixth largest economy in the world. Surely you can find a way to pay for gov’t services and not tax everyone to death? What is all the spending on…?
What is the income tax? What would the tax be on a 1200-1500 square foot home – 2 bed, 2 bath? Just curious.
I don’t know the income tax off the top of my head, but property tax is about 1.25%. The catch is that if you bought that house 20 years ago when it cost $50,000 then you pay 1.25% of $50k. If you bought that same house when prices peaked you are paying 1.25% of maybe $700k.
Prop. 13 has probably saved a bunch of people from not being able to afford their house as the property taxes would have priced them out of their house. On the other hand it seems kind of unfair for say two neighbors who own identical homes to be paying $625 per year vs $8750. Identical homes, identical tax provided services…
I don’t know the solution, but it’s kind of whacked.
Your property taxes are much lower than what we have here. I’m around 3% right now. I understand the average country wide is around 1.38%. Your sales tax is lower, too.
OTOH, your income tax is really high – 9.3% if making over $45k? That is a killer. We have a flat rate of 3.4%.
"What the hell’s wrong with CA? I thought you guy had like the sixth largest economy in the world. Surely you can find a way to pay for gov’t services and not tax everyone to death? What is all the spending on…? "
The problem is very simple. There are a lot more people getting services than there are people paying into the system.
