Article

2009-07-03 Economy

California's Budget Crisis: Is There a Way Out?

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by GolfBravoUSMC 2009-07-03 06:38|| || Front Page|| [11130 views ] Top

#1 There is a way out. Spend less, roll back regulations that limit business, strike taxes that keep businesses out, unfetter the energy industry, and demolish the unions and their prohibitively expensive pensions.

Posted by OldSpook 2009-07-03 13:43|| 2009-07-03 13:43|| Front Page Top

#2 "state's finances could be made more stable by raising income taxes on middle and low-income families"

What kind of fool is this writer? Tax the middle class and you demolish the consumer spending basis of the economy.

Ever heard of the laffer curve?

Posted by OldSpook 2009-07-03 13:45|| 2009-07-03 13:45|| Front Page Top

#3 Time Magazine, "Home of the Obama Cover"

Posted by Frank G">Frank G 2009-07-03 14:01|| 2009-07-03 14:01|| Front Page Top

#4 I don't know. I think it's a dead heat race between Time, Newsweek and Jet.

Posted by ed 2009-07-03 14:15|| 2009-07-03 14:15|| Front Page Top

#5 A crafty partial solution would be to substitute huge fines for common non-violent misdemeanor offenses.

For example, first time, non accident DUI has a "fee" of $30,000. But if you pay the fee, it is an administrative, not judicial, fine, which can only be appealed to an administrator, not a judge.

A lot of shoplifters are not poor, like Winona Ryder, so why not slap them with the cost of whatever they stole, plus $10,000 fee and a cut going to the retailer. Many are so compulsive they would be glad to pay the fee, and keep shoplifting.

Johns that go after high end prostitutes could probably shell out the big bucks, especially if it was kept discreet.

And while this would only bring in several billions of dollars to the State coffers, that would still help.

Posted by Anonymoose 2009-07-03 14:23|| 2009-07-03 14:23|| Front Page Top

#6 The State needs to cut spending, not increase income via dubious "fees", increased taxes, or any other dipshit scheme.

Posted by Frank G">Frank G 2009-07-03 14:30|| 2009-07-03 14:30|| Front Page Top

#7 All this breast beating about CA's deficit that is 22% of revenues and hardly any newspaper ink about the 2010 federal budget deficit that is greater than 100% of tax revenues.

Posted by ed 2009-07-03 14:42|| 2009-07-03 14:42|| Front Page Top

#8 2009 federal budget

Posted by ed 2009-07-03 14:57|| 2009-07-03 14:57|| Front Page Top

#9 "California's Budget Crisis: Is There a Way Out?"

Yes, there is.

QUIT SPENDING!

Posted by Barbara Skolaut">Barbara Skolaut 2009-07-03 15:02|| 2009-07-03 15:02|| Front Page Top

#10 "California's Budget Crisis: Is There a Way Out?"

California, here we go.

Between 2005 and 2007, 2.14 million Californians moved to other states, while only 1.44 million people from elsewhere moved to the Golden State, according to the U.S. Census Bureau.

Posted by GolfBravoUSMC 2009-07-03 16:05|| 2009-07-03 16:05|| Front Page Top

#11 "Between 2005 and 2007, ... 1.44 million people from elsewhere moved to the Golden State"

So there are 1.44 million certified idiots in Californicate? And that doesn't even include the politicians.

I think I see the problem....

Posted by Barbara Skolaut">Barbara Skolaut 2009-07-03 16:23|| 2009-07-03 16:23|| Front Page Top

#12 And more of us to follow. I've lived here since 1976 and have watched Paradise be ruined by a cavalcade of political idiots in the legislature and the governor's office who ceaselessly write BS laws and regulations about everything, and who give special breaks to everyone to buy votes, and who rig the electoral process to insure incumbancy, but who haven't built a freeway while the population more than doubled, nor a new dam, nor any power plants, or any other major public works projects. Just defer real government and clutter up peoples lives with 1600 new bills form the legislature each and every year......
all the while doing everything possible to change the demographics of the electorate, 1 in 4 people here were born in another country, and somewhere betwen 3-6 million illegals crowd our hospitals, prisons and schools.
Many of me peers are doing the same thing I'm doing, getting ready for next spring's housing rebound, what ever little bit it might be, and getting out.
Tragic to think my own government is chasing me out of my adopted state....

Posted by NoMoreBS">NoMoreBS 2009-07-03 16:28|| 2009-07-03 16:28|| Front Page Top

#13 Just defer real government and clutter up peoples lives with 1600 new bills form the legislature each and every year......
all the while doing everything possible to change the demographics of the electorate..NoMoreBS

The primary goal of Barry and the Democommunists.

Posted by Besoeker 2009-07-03 16:42|| 2009-07-03 16:42|| Front Page Top

#14 As I stood in line behind a woman in a Burqa yesterday, at the local Target store, it was not hard to figure out who has left the state and who replaced them.

Born and raised in CA, I've watched this state change from one of the best in the nation to a third world toilet. Waiting for housing prices to stabilize, then it's AMF!

Posted by GolfBravoUSMC 2009-07-03 16:52|| 2009-07-03 16:52|| Front Page Top

#15 Come on down to Georgia Devil Dog. We'd be honored to have you.

Posted by Besoeker 2009-07-03 16:55|| 2009-07-03 16:55|| Front Page Top

#16 Wouldn't be that difficult. Just check back on the books when the present revenue income match the preceding years records. If your income matches 2001 or 1996, that's your budget for the year, to include suspending laws passed since that date. Somehow the state survived during those preceding years, otherwise it wouldn't be here.

Posted by Procopius2k 2009-07-03 17:23|| 2009-07-03 17:23|| Front Page Top

#17 The only way out is through. I pity California home-owners & home-borrowers. California housing prices will stabilize only when they return to a reasonable level with respect to California household incomes.

Posted by Anguper Hupomosing9418 2009-07-03 17:36|| 2009-07-03 17:36|| Front Page Top

#18 Besoeker:

Georgia is on my short list. I lived there in the 60s. I was in Sylvania for a couple of years and then moved to Savannah. I loved living in the "State of Chatham". Sold my property on Skidaway Island in the 70s.(Bad mistake)

Maybe we can get together someday and have some barbecue and a "mess of shrimp".

Posted by GolfBravoUSMC 2009-07-03 18:13|| 2009-07-03 18:13|| Front Page Top

23:18 Thing From Snowy Mountain
23:10 newc
23:08 newc
23:08 Zhang Fei
23:08 bman
23:06 newc
22:58 newc
22:55 Thing From Snowy Mountain
22:50 49 Pan
22:42 Vigilante
22:36 Unatle Unavimp4834
22:29 Steve White
22:00 ryuge
21:53 Slung Untervehr8582
21:33 Thing From Snowy Mountain
21:17 Mullah Richard
21:14 Old Patriot
21:09 Old Patriot
21:07 Old Patriot
20:34 anymouse
20:33 SteveS
20:30 Frank G
20:29 Frank G
20:21 SteveS