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California Tax Revenues Plunge, Deep Cuts To Schools Could Be Triggered

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http://latimesblogs.latimes.com/california-politics/2011/08/california-revenues-plunges-deep-cuts-to-schools-could-be-triggered.html

California’s tax revenues plummeted in July, falling more than 10% below expectations and making it more likely that deeper cuts to public schools built into the state budget in case of a stalled economic recovery will occur.

Gov. Jerry Brown and state lawmakers patched up the final $4 billion of California’s budget shortfall this year by hoping for a windfall economic recovery. Those hopes are now fading fast.

Tax collections in July were $538.8 million below budget forecasts, according to state Controller John Chiang.

Income taxes were up slightly, but sales and corporate collections lagged by a combined nearly $210 million. But the biggest drag was from the unidentified $4 billion that budget writers had banked on.

Still I'm sure they'll get better now the Fed has indicated zero interest rates for infinity.

Who needs tax revenues when you've got access to the printing press.

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Jobs jobs jobs. Only solution.

Governments must see this, and their immediate reaction will be protection - first on immigration and, if that doesn't work quickly enough, trade barriers.

They won't contemplate a collapse in asset valuations.

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http://latimesblogs....-triggered.html

Still I'm sure they'll get better now the Fed has indicated zero interest rates for infinity.

Who needs tax revenues when you've got access to the printing press.

Funny how Arnie the symbolic "Terminator" (Son of a nazi officer - but hey) was in control for a decade then just as everything collapsed conveniently disappears off the scene.

(We have been put thru & seen this with Politicians and head Bankers repeatedly - who never get punished)

Also in disgrace as his sham marriage revealed undignified visits to seedy hotels with paid hoes, a kid with the Mexican? housekeeper and the wrath of a wife who turned frigid on him after sussing his extramaritals

Edited by erranta

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Jobs jobs jobs. Only solution.

Governments must see this, and their immediate reaction will be protection - first on immigration and, if that doesn't work quickly enough, trade barriers.

They won't contemplate a collapse in asset valuations.

Trade barriers would be the last thing to come down, after a total breakdown of society.

Most US corporate profits on aggregate depend on global wage arbitrage. Asset values would collapse with trade barriers.

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Trade barriers would be the last thing to come down, after a total breakdown of society.

Most US corporate profits on aggregate depend on global wage arbitrage. Asset values would collapse with trade barriers.

I don't disagree. But that's how the politicos will proceed as internal violence rises.

I've linked this a few times over the past week - Israelis protesting the rising cost of living:

http://www.bbc.co.uk/news/world-middle-east-14433245

No violence - the people are educated, but mostly I guess it's because their government is democratic.

I really wonder what the riots in the UK this week say about our government, rather than focus on what it says about our rioters. General response: more police, more fear.

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I don't disagree. But that's how the politicos will proceed as internal violence rises.

I've linked this a few times over the past week - Israelis protesting the rising cost of living:

http://www.bbc.co.uk...e-east-14433245

No violence - the people are educated, but mostly I guess it's because their government is democratic.

I really wonder what the riots in the UK this week say about our government, rather than focus on what it says about our rioters. General response: more police, more fear.

Wow, I'd missed that. It always amazes me how global this crisis is.

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I really wonder what the riots in the UK this week say about our government, rather than focus on what it says about our rioters. General response: more police, more fear.

That's what I find so hateful about the recent police handling of political protests. Their treatment of protesters has practically removed people's right to peacefully protest against the government in this country.

If you remove the safety valve, you get what you ask for.

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I don't disagree. But that's how the politicos will proceed as internal violence rises.

I've linked this a few times over the past week - Israelis protesting the rising cost of living:

http://www.bbc.co.uk/news/world-middle-east-14433245

No violence - the people are educated, but mostly I guess it's because their government is democratic.

I really wonder what the riots in the UK this week say about our government, rather than focus on what it says about our rioters. General response: more police, more fear.

Unless of course your Palestinian. Are there protests peaceful?

And they call for govt intervention....

Govt interventions is why costs are going up.

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  • 331 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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