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Posted: 5/14/2022 2:05:54 PM EDT
https://twitter.com/latimes/status/1525167924842967040

Los Angeles Times
@latimes
· May 13
Breaking: California’s government surplus is expected to balloon to $97.5-billion by next summer under the budget plan unveiled Friday by Gov. Gavin Newsom.

“No other state in American history has ever experienced a surplus as large as this,” he said.
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The new budget blueprint estimates $300.6-billion in total spending during the fiscal year that begins in July — a $14-billion increase from what Newsom proposed to lawmakers only four months ago.
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Charley Sheen's Doppelganger

That sounds like the collective balance of every conservative Californian’s swear jar.
Link Posted: 5/14/2022 2:07:14 PM EDT
[#1]
Link Posted: 5/14/2022 2:08:12 PM EDT
[#2]
Government shouldnt be celebrating its heavy tax rates that lead to it having a surplus. That surplus only leads to additional spending, but the (actual) tax payers shouldnt expect to see a dime coming back to them to make up for the heavy handed theft thats taking place.
Link Posted: 5/14/2022 2:10:36 PM EDT
[#3]
doesn't CA do something funny with unfunded liabilities in their accounting? The kind of thing a business would be shut down for doing? I could be mistaken, but I think I read somewhere they ignore a lot of stuff they will eventually have to pay for...
Link Posted: 5/14/2022 2:13:11 PM EDT
[Last Edit: Redarts] [#4]
To save you the math, that is roughly $2477 per CA resident (although if you add in all the illegals it probably falls to about $200).

The median income in CA is $33719, with median household at a bit under $79k.

In other words, their per capita budget surplus is around 14% of the median earner's income. Not a particularly useful metric but interesting.
Link Posted: 5/14/2022 2:14:05 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Redarts:
To save you the math, that is roughly $2477 per CA resident (although if you add in all the illegals it probably falls to about $200).
View Quote

Or over $137,000 per tax payer.
Link Posted: 5/14/2022 2:15:47 PM EDT
[#6]
Covid money???
Link Posted: 5/14/2022 2:16:07 PM EDT
[Last Edit: odiedodi] [#7]
Government spending of the magnitude envisioned by Newsom would be made possible, in large part, by the remarkable investment earnings of California's wealthiest taxpayers.
View Quote
So he's basing his budget off income generated by one of the best bull markets we've ever had, even though that party's about to end?


okay.

Originally Posted By rodical:
Covid money???
View Quote
Capital gains.
Link Posted: 5/14/2022 2:29:33 PM EDT
[Last Edit: glockluv] [#8]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By rodical:
Covid money???
View Quote


My first thought.

Cant wait to see all the wonderful new million dollar condos the homeless will get to destroy
Link Posted: 5/14/2022 2:33:54 PM EDT
[#9]
I wonder which method of laundering it they will choose
Link Posted: 5/14/2022 7:02:57 PM EDT
[#10]
Federal dollars, no repair on roads and taxing for profit.
Link Posted: 5/14/2022 10:08:09 PM EDT
[#11]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By bm3:
Federal dollars, no repair on roads and taxing for profit.
View Quote


Bingo.
Link Posted: 5/14/2022 10:12:26 PM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dorobuta:
doesn't CA do something funny with unfunded liabilities in their accounting? The kind of thing a business would be shut down for doing? I could be mistaken, but I think I read somewhere they ignore a lot of stuff they will eventually have to pay for...
View Quote


Something screwy is clearly going on.  A state that's bleeding taxpayers and has huge unfunded future liabilities looming has a $90B+ surplus?  If that were true, I guess they could start shoveling that money into the gaping unfunded chasm they've got.  Oh, but that would indicate they are *not* counting on the Dem friends in the Federal Government to just bail them out when the time comes.  
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