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Blue California has staggering $75B budget surplus (Original Post)
ailsagirl
May 2021
OP
intrepidity
(7,294 posts)1. Buy some firefighting air tankers, maybe? nt
Eyeball_Kid
(7,430 posts)2. That was exactly what I was thinking before I saw your post.
This will be another catastrophic forest fire season.
ailsagirl
(22,893 posts)5. I trust Newsom, I really do
I think hes got this
Cicada
(4,533 posts)3. California taxes capital gains at same rate as other income
And the California income tax is highly progressive, pretty low up to median income. But then the rate hits 9.3% fairly quickly. When stocks go way up CA income goes way up. But recessions are horrible on state revenue. CA should increase property tax and lower income tax to get more stable revenues.
ailsagirl
(22,893 posts)4. In the meantime, I was thrilled about this windfall