ALL funds must come from either taxes (and fees, which I consider to be the
same thing), or from borrowing - meaning bonds - which must be paid back -
with interest! ALL states must therefore (eventually) balance their budgets.
This is because they aren't allowed to print money! NO state can spend more
than it takes in taxes for long. Eventually, the borrowing will increase the
payments on the interest to where there's no funds left for the state unless
the state defaults on the bonds, and then it won't be able to borrow money
because who loans to anyone who defaults on what they borrow!
California has a HIGH tax rate compared to most other states and takes in
much mullah per (legal) capita. The problem is in how our money is spent.
One would think that the politicians would allocate funds based on the
state's needs; however, highest priority goes to whatever will buy the most
votes and to hell with what's good for the state.
It is folly to think that increasing or adding taxes always results in
higher revenue for the state. It works for a short period, but eventually,
when costs get too high, businesses and people go elsewhere (Nevada is
starting to look good to my company) and the revenue may fall below what it
was before the added tax! This can really suck if the state then becomes
even more burdened by supporting even more out of work folks. Every state is
in competition with every other state as to attracting companies and peoples
and frankly, I'm probably going to New Hampshire in a few years.
Someday I hope the state will decide that basic services such as dealing
adequately with the annual wildfire problem, maintaining roads, bridges and
other infrastructure, providing for schools, etc. are more important some
sacred cow programs they fund now, only because they are more visible and
put dough directly into the pockets of folks and buy votes.
Regards,
Bob...
--------------------------------------------------------
"Art is not a reflection of reality. it is the reality of a reflection."
-Jean Luc Godard
----- Original Message -----
From: "John Sessoms" <[EMAIL PROTECTED]>
> Probably one of those states that's required by law to balance the
> budget. Can't spend more than than you project to take in for taxes.
>
> Then you make it impossible for the legislature to raise revenue through
> reasonable taxes and you're left with what you can get from sales taxes
> and "education" lotteries.
>
> Put a cap on property taxes & income taxes; exempt all kinds of unearned
> income from taxation and then bitch at the politicians because they
> didn't have money in the budget to prevent these fires.
--
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