Discussion in 'Wall St. News' started by ipatent, May 8, 2009.

  1. ipatent


    "Sales taxes were $452
    million lower (-50.9%) than last April,
    and personal income taxes were
    down $5.7 billion (-43.6%). Corporate
    taxes were $142 million below (-8.6%)
    April of 2008."

    Isn't consumer spending supposed to be 70% of the economy? Are sales tax revenues not linearly connected with sales? Either CA is exaggerating in order to get a bailout or the problem of the overall economy is worse than it is being presented to us.
  2. Eight


    I live in the San Fernando Valley. A year ago I used to see all these Mexicans catching buses to work in people's houses or whatever, now, forget it, not that many at all....

    The Governator wants to legalize pot for the tax revenues... considering how ludicrous that idea is in light of Federal laws, well, he seems desperate. Maybe it really is that bad.
  3. California is a testament to what happens when social idealists take control of a Gov. All sence of frugality is thrown aside. In many ways the California electorate reflects the debt addicted
    mindset of the average American.