Newsom face To face With Grim Reality Of His Own Making

[Rightguide]

Gavin Newsom admits that the California system is unsustainable​

by Zachary Faria, Commentary Writer |
May 15, 2023 02:48 PM

California’s financial system, which is propped up by Democrats as the model the rest of the country should be following, is completely unsustainable. Even California Gov. Gavin Newsom is now acknowledging that fact.

California’s budget deficit has risen another $10 billion, bringing the shortfall to almost $31.5 billion. Newsom’s updated budget proposal makes cuts almost across the board, with only public schools and healthcare agencies receiving increases. In his previous plan, the state would be making cuts to climate change programs, despite it being such a dire crisis, according to Newsom himself. This new plan would also cut funding for water storage, which will almost certainly lead to yet another man-made drought down the line.

Why is California facing cutbacks in the face of crises both real (water storage) and imagined (“climate emergency”)? Just ask Newsom: "We have one of the most volatile tax structures because of the overreliance, or the disproportionate reliance, on a very small subset of tax filers," Newsom said.

That is what makes California fair and “equitable,” but it also means that the state operates at the whims of wealthy residents. When those residents leave, California’s tax pool begins to dry up. In 2021, the state lost nearly $30 billion in taxable revenue.

More here: https://www.washingtonexaminer.com/...s-that-the-california-system-is-unsustainable

Proof that one-party Democrat rule is destructive to its people and institutions.

 

[ll74]

Gavin Newsom admits that the California system is unsustainable​

by Zachary Faria, Commentary Writer |
May 15, 2023 02:48 PM

California’s financial system, which is propped up by Democrats as the model the rest of the country should be following, is completely unsustainable. Even California Gov. Gavin Newsom is now acknowledging that fact.

California’s budget deficit has risen another $10 billion, bringing the shortfall to almost $31.5 billion. Newsom’s updated budget proposal makes cuts almost across the board, with only public schools and healthcare agencies receiving increases. In his previous plan, the state would be making cuts to climate change programs, despite it being such a dire crisis, according to Newsom himself. This new plan would also cut funding for water storage, which will almost certainly lead to yet another man-made drought down the line.

Why is California facing cutbacks in the face of crises both real (water storage) and imagined (“climate emergency”)? Just ask Newsom: "We have one of the most volatile tax structures because of the overreliance, or the disproportionate reliance, on a very small subset of tax filers," Newsom said.

That is what makes California fair and “equitable,” but it also means that the state operates at the whims of wealthy residents. When those residents leave, California’s tax pool begins to dry up. In 2021, the state lost nearly $30 billion in taxable revenue.

More here: https://www.washingtonexaminer.com/...s-that-the-california-system-is-unsustainable

Proof that one-party Democrat rule is destructive to its people and institutions.

He didn't say that, though ...weird ¯⁠\⁠(⁠°⁠_⁠o⁠)⁠/⁠¯

 

[BabyBoomer50s]

When a state depends on the to .5% of taxpayers to provide 41% of the tax revenue, bad things happen when markets fall.

 

[Rightguide]

When a state depends on the to .5% of taxpayers to provide 41% of the tax revenue, bad things happen when markets fall.

...or when taxes go up because they supported economic fools to run their state.

 

[LLCox]

What California needs is high speed rail...

 

[jomar]

What California needs is high speed rail...

Boy, that's a throwback Thursday kind of thing

 

[DeluxAuto]

What California needs is high speed rail...

Musk failed to give them one.

 

[LLCox]

Musk failed to give them one.

Didn't the government give them the money several years ago. Wonder where that moola went.


Never mind I checked. They are working on it.


the vid is Savoy Browns Hell Bound Train.

 

[HisArpy]

When a state depends on the to .5% of taxpayers to provide 41% of the tax revenue, bad things happen when markets fall.

Worse things happen when that .5% decide to relocate to another State because market losses can be recovered but lost taxpayers never move back.

Add to this the lost jobs and associated tax revenues from store closures, and the State is reaping the bountiful harvest of what it sowed over many decades.

 

[BabyBoomer50s]

California progressives feeling the pain of Governor Newsom’s budget bloodbath.

California progressives forced to play defense as state faces huge budget deficits​

https://calmatters.org/commentary/2024/04/california-progressives-defense-budget-deficit/

 

[Lazaran]

When a state depends on the to .5% of taxpayers to provide 41% of the tax revenue, bad things happen when markets fall.

^
(Quoted for posterity and stupidity)

Yeah, maybe .5% of the population should never be allowed to be in a position to provide 41% of the tax revenue.

Concentrated wealth in the hands of a very few will ALWAYS be a disaster waiting to happen; for reasons obvious to any non-sociopath.



BabyBoobs

 

[Chernosoth]

While politicians bullshit and blunder, climate change will take care of the situation, by burning everything down. Infrastructure, homes, businesses, everything becomes ashes and dust in the wind.

 

[Fuzzy1975]

While politicians bullshit and blunder, climate change will take care of the situation, by burning everything down. Infrastructure, homes, businesses, everything becomes ashes and dust in the wind.

It's going to happen sooner or later, so enjoy the ride!

https://en.wikipedia.org/wiki/Futur...obable fate,beyond the planet's current orbit.