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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (485633)	6/4/2009 4:36:31 PM
From: TimF	Read Replies (2) of 1573922

The two thirds requirement haven't prevented tax rates from being above average in CA. "Rough calculations indicate that California taxes will decline, in relationship to personal income, by a full percentage point, to just about where they were after Proposition 13 passed in 1978. And our rankings vis-a-vis other states will also drop to somewhere in the middle, maybe 24th or 25th, just about where we were in 1979 as well." Thats because currently the recession is worse in CA than in the rest of the country. When the economy is worse tax revenue is down, and its down more in CA. But unless you think CA's economy has fell off a cliff and will never recover that's just a short term issue. Without that recession effect (and without having to make "rough calculations", instead relying on the actual 2008 tax info) CA was 6th. And even the temporary depressed level is not low. Is not "starving" CA as you seem to suggest. Its middle of the pack.

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