Blue California has staggering $75B budget surplus

[ailsagirl]

Link to tweet

[intrepidity]

1. Buy some firefighting air tankers, maybe? nt

[Eyeball_Kid]

2. That was exactly what I was thinking before I saw your post.

This will be another catastrophic forest fire season.

[ailsagirl]

5. I trust Newsom, I really do

I think he’s got this

[Cicada]

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]

4. In the meantime, I was thrilled about this windfall