California's Budget Deficit... 2x what we thought! (Page 1/3)
82-T/A [At Work] FEB 26, 08:17 AM
Apparently, it’s not making much news… but…

California Gets Another Budget Deficit Shock - WSJ


• California’s budget process goes from July 1st through June 30th. By state constitution, California’s budget plan is required to be balanced.

• Prior to COVID, they had rampant tax revenue from Silicon Valley. They weren’t really affected by COVID, and had 26+ billion in tax surplus by FY end in June of 2021.

• Gavin Newsome implemented dozens of welfare programs, touting the budget surplus and using improper projections to estimate they could afford more programs.

• By end of Fiscal Year in June of 2022, they went from an (improperly estimated) 97 billion budget surplus, to an actual 31 billion budget deficit for FY2022.

• The CURRENT budget for 2023 (which ends in June of 2024), is now estimated to be $73 billion dollars in the red.

• 2023’s budget deficit is now more than double the initially estimated budget overrun, which is illegal by state Constitution.

• Despite Newsom’s over-projections in January that still wrongly assumed a surplus after a year of deficit, they’re now going to have to start cutting services.


Only fancy people have access to WSJ, but my guess is this budget deficit is because of all the new programs he created coupled with all the wealthy people leaving California for Texas and Florida… which explains in part why Florida has had a massive budget surplus the past several years. In 2022, Florida posted a 21 billion-dollar budget surplus, and they’re on track to post a near 37 billion dollar budget surplus for 2023. Some people are estimating that it could be even as high as 50 billion. Florida is even considering lowering the corporate tax... which would encourage more big businesses to incorporate in Florida.
olejoedad FEB 26, 08:56 AM
Gosh, don't give Biden that info, he will illegally confiscate the Florida surplus and give it to the criminal aliens.....
ray b FEB 26, 09:06 AM

quote
Originally posted by olejoedad:

Gosh, don't give Biden that info, he will illegally confiscate the Florida surplus and give it to the criminal aliens.....



how very CHRISTIAN TO JUST MAKE UP LIES

WITH OUT A SHRED OF TRUTH

YOU SHOW THE EFFECTS OF THE RUMP LIES ON A PERSON
82-T/A [At Work] FEB 26, 09:22 AM

quote
Originally posted by olejoedad:

Gosh, don't give Biden that info, he will illegally confiscate the Florida surplus and give it to the criminal aliens.....




The surplus is so high... there's a bill that's being floated which could effectively eliminate property tax for people who are homesteaded. This would immediately make housing more affordable in Florida for the people who would need / want to work and live here.

EDIT: Found the article... https://www.kiplinger.com/t...ty-tax-be-eliminated

[This message has been edited by 82-T/A [At Work] (edited 02-26-2024).]

olejoedad FEB 26, 09:46 AM

quote
Originally posted by ray b:


how very CHRISTIAN TO JUST MAKE UP LIES

WITH OUT A SHRED OF TRUTH

YOU SHOW THE EFFECTS OF THE RUMP LIES ON A PERSON



You don't understand the concept of sarcasm.
ray b FEB 26, 10:02 AM

quote
Originally posted by 82-T/A [At Work]:
The surplus is so high... there's a bill that's being floated which could effectively eliminate property tax for people who are homesteaded. This would immediately make housing more affordable in Florida for the people who would need / want to work and live here.

EDIT: Found the article... https://www.kiplinger.com/t...ty-tax-be-eliminated




sounds like a racist plot to stop school funding
as that is almost all property taxed funds

and swap the taxes on the poor with sales tax
and off the rich WHITE HOME OWNERS

Gop IN ACTION
ray b FEB 26, 10:06 AM

quote
Originally posted by olejoedad:


You don't understand the concept of sarcasm.



I UNDERSTAND GREEN FOUNTS
commonly used to indicate sarcasm on the net

while plain text does NOTlike this

[This message has been edited by ray b (edited 02-26-2024).]

82-T/A [At Work] FEB 26, 10:20 AM

quote
Originally posted by ray b:

sounds like a racist plot to stop school funding
as that is almost all property taxed funds

and swap the taxes on the poor with sales tax
and off the rich WHITE HOME OWNERS

Gop IN ACTION




Well... Ray, I assume you didn't read the article. It's only speculation on what exactly all of this means, but the general consensus is that it would do the exact opposite of what you're saying. Right now... property taxes benefit the schools in wealthy areas. Chicken or Egg... whatever comes first... places with good schools will have increased demand, which lead to higher property taxes due to higher valuations (as a result of increased demand) ... all of which leads to MORE money for schools that are already well-funded.

THAT is what happens right now.

Of course, Florida sponsors a lot of things at the "state" level, which includes free Childcare (Free VPK) which almost no other state has. Florida has had that for well over a decade. It would have been nice because when I lived in Maryland, I had to spend $1,000 a month on child care (pre-school)... and Florida offers that for free, which is unbelievable. But second, Florida also funds charter schools predominantly from state taxes (not county or city), which are geared towards providing a higher quality education to poor kids.

BUT... if they eliminate property taxes... then the wealthy schools would NOT have that built-in demand structure that automatically increases their funding every year. As a matter of fact, it would do the exact opposite. Despite your claim about sales tax... most poor kids, or specifically for your benefit... most poor Democrats are inner-city. These are cities with higher businesses / service content that result in significantly higher sales tax revenue than say... Weston, which only has a few strip malls and a shopping center.

So consequently, what you're saying here is literally the exact opposite. What would likely happen is funding for Florida schools would probably instead then be split based entirely on school population, which means the poor schools would get a totally equal-funding as the wealthy schools in wealthy middle-class neighborhoods.


You know... you kind of bring it up, but I have to mention this Ray... you talk about how horrible Florida's GOP is... but I want you to recognize that literally all the "social welfare" programs that blue states talk about wanting to pass... and blaming Republicans for not having them... Florida's GOP has literally passed all of these programs. Just a few examples:

- Florida Kid Care (free TOTAL healthcare for children)
- Free VPK (free childcare in Florida for ages 4 through Kindergarten)
- Immunization Program (free immunizations for EVERYTHING, free to residents who are lower income, including some that are free to everyone)
- Adult and Continuing Education (ACE program, that provides scholarships for all adults, regardless of income, to fully pay for community college if you go full time)

... I mean, this is just off the top of my head... there's a ton of others... including free housing in fancy down-town condos, among other things. For all your hate of the GOP, the GOP has literally passed all the social welfare programs here in Florida that the blue states only talk about passing. And we did this without any marketing campaigns, or trying to "buy votes."
olejoedad FEB 26, 10:30 AM

quote
Originally posted by ray b:


I UNDERSTAND GREEN FOUNTS
commonly used to indicate sarcasm on the net

while plain text does NOTlike this




Thanks, I had never heard of that 'custom'.

As I post from my phone, not a computer, you will just have to learn to recognize sarcasm.
ray b FEB 26, 10:55 AM
charter schools I see as a dodge around the prey in school obsession by christians

who do have goals of limiting education to bible based BS much to the despair of the kids
and severe limited higher ed opportunity much like the NUTS who home school