October 10, 2016
California Roller Coaster
Gov. Jerry Brown points out swings in capital gains revenue during his revised 2016-17 budget presentation in May. --- (Rich Pedroncelli / Associated Press)
Jerry Brown's budget plan predicts slowdown in California revenue
Gov. Jerry Brown, urging lawmakers to restrain spending amid a downward turn in revenue, said Friday that California cannot afford to significantly expand state programs and services.
The Democratic governor, touching off weeks of budget negotiations at the Capitol, said the state will face future deficits if a ballot measure to extend temporary income tax increases fails in November.
Brown declined to endorse the measure, however, saying “we'll manage” if it falls short.[...]
Sen. Mark Leno, D-San Francisco, said in a prepared statement that “given the unacceptably high number of Californians living in poverty, we must make targeted re-investments in education, health and social service programs that help lift up the most vulnerable residents of our state.”
Glenn Spencer -- American Patrol Report
The Ascendancy of Donald Trump
In 1992 I characterized the illegal immigration problem as follows: "L.A.'S NUMBER ONE IMPORT: POVERTY"
The people of California knew they were headed for serious economic problems so they passed Proposition 187 to stem the flood.
What happened to Proposition 187 is a lesson in political corruption.
If the truth be known, the Democrats pushed Obama Care through to deal with the vast numbers of uninsured in California.
Today the top one percent of income earners pay about one half of all taxes in California .
When those income earners run into hard times the entire state suffers --- and it happens with regularity.
I am convinced that what happened to California laid the ground work for the ascendancy of Donald Trump.