California tax revenue at risk

[Thinker101]

Thee population of California posted a decline of tens of thousands in 2023. Among them, are some of the wealthiest Californians, who account for a sizable portion of the state's tax base.

The state’s population dropped by about 75,400 over 12 months, bringing it to over 38.96 million as of July 1, the U.S. Census Bureau estimated Tuesday.

California had a total of over 399,400 tax returns leave the state and over 241,200 come into the state in 2020-2021, resulting in a net loss of about 158,200, according to IRS migration data. For individuals, the IRS said the state netted over 331,700 fewer people in that timeframe.

The Legislative Analyst’s Office projected California could see a budget deficit of $68 billion for the upcoming fiscal year if not solved. That deficit largely due to a "severe revenue decline" that involved a 25% drop in total income tax collections in 2022-2023.

Time for California to take some of those streets paved with gold to the pawn shop. Nevertheless I'm sure Newsom has at least 20 excuses.

MSN

 

[WTH_Progs?]

Unless escaped to God's country or are wealthy and live amongst other wealth near the beach, California is a horrible place to live. Kicker is it costs far more to live in that rat cage. It's like paying a rapist to rape you.

I have to enter Ca. a few times a month. There's nothing to like, I hate it.

 

[gipper]

I love CA though I don’t live there. We visit for months at a time. No state is as beautiful with an amazing amount of geographical diversity.

 

[BluesLegend]

You only have to look at other cities and states Democrats have destroyed. They are not going to stop taxing the shit out of people in California. They are in the process of passing a punishment wealth tax as we speak. They will tax and tax and tax until it's destroyed.

 

[Independentthinker]

Thee population of California posted a decline of tens of thousands in 2023. Among them, are some of the wealthiest Californians, who account for a sizable portion of the state's tax base.

The state’s population dropped by about 75,400 over 12 months, bringing it to over 38.96 million as of July 1, the U.S. Census Bureau estimated Tuesday.

California had a total of over 399,400 tax returns leave the state and over 241,200 come into the state in 2020-2021, resulting in a net loss of about 158,200, according to IRS migration data. For individuals, the IRS said the state netted over 331,700 fewer people in that timeframe.

The Legislative Analyst’s Office projected California could see a budget deficit of $68 billion for the upcoming fiscal year if not solved. That deficit largely due to a "severe revenue decline" that involved a 25% drop in total income tax collections in 2022-2023.

Time for California to take some of those streets paved with gold to the pawn shop. Nevertheless I'm sure Newsom has at least 20 excuses.

MSN

This is no problem for California. The simple solution is to keep taxing the remaining residents more and more to make up for those moving out.

 

[marvin martian]

Thee population of California posted a decline of tens of thousands in 2023. Among them, are some of the wealthiest Californians, who account for a sizable portion of the state's tax base.

The state’s population dropped by about 75,400 over 12 months, bringing it to over 38.96 million as of July 1, the U.S. Census Bureau estimated Tuesday.

California had a total of over 399,400 tax returns leave the state and over 241,200 come into the state in 2020-2021, resulting in a net loss of about 158,200, according to IRS migration data. For individuals, the IRS said the state netted over 331,700 fewer people in that timeframe.

The Legislative Analyst’s Office projected California could see a budget deficit of $68 billion for the upcoming fiscal year if not solved. That deficit largely due to a "severe revenue decline" that involved a 25% drop in total income tax collections in 2022-2023.

Time for California to take some of those streets paved with gold to the pawn shop. Nevertheless I'm sure Newsom has at least 20 excuses.

MSN

LOL, good.

 

[jwoodie]

You only have to look at other cities and states Democrats have destroyed. They are not going to stop taxing the shit out of people in California. They are in the process of passing a punishment wealth tax as we speak. They will tax and tax and tax until it's destroyed.

Could you provide more info on the punishment wealth tax being considered?

 

[Thinker101]

Could you provide more info on the punishment wealth tax being considered?

California Exit Tax & Wealth Tax: What Is it & How it Applies to You

 

[BluesLegend]

California Exit Tax & Wealth Tax: What Is it & How it Applies to You

I'm calling it the California Putin tax. Talk about a communist dictatorship. California confiscates YOUR money, then claims you owe them a wealth tax after they spent YOUR money on something.

 

[Thinker101]

I'm calling it the California Putin tax. Talk about a communist dictatorship. California confiscates YOUR money, then claims you owe them a wealth tax after they spent YOUR money on something.

China is California's largest trading partner and Newsom recently spent time with XI, so I'd suggest a California XI tax.

 

[ScorpioRising007]

tion of California posted a decline of tens of tho

I love CA though I don’t live there. We visit for months at a time. No state is as beautiful with an amazing amount of geographical diversity.

I agree I love CA too, I wish I could live there. I can only afford to visit there. The state is so beautiful. I have visited there half a dozen times in my life, this year I will be taking my wife there for a visit.

It is a shame so many people are leaving CA, it really is a state only the rich and wealthy can afford. I don't think my wife could afford living there on a $17/hr wage.

 

[gipper]

I agree I love CA too, I wish I could live there. I can only afford to visit there. The state is so beautiful. I have visited there half a dozen times in my life, this year I will be taking my wife there for a visit.

It is a shame so many people are leaving CA, it really is a state only the rich and wealthy can afford. I don't think my wife could afford living there on a $17/hr wage.

I don’t think any other state has as much geographical diversity. We’ve traveled all over the country.

From deserts to mountains to the ocean and lakes. Beautiful coastal areas and amazing national parks with the redwoods and sequoias. Plus the weather is generally nice year round, particularly southern CA. We enjoy visiting the Spanish Missions that can be found in many small towns. Lots of history.

We stay away from the big cities. Many of the small towns are beautiful.

Pacific Ocean at Malibu.

 

[CrusaderFrank]

Thee population of California posted a decline of tens of thousands in 2023. Among them, are some of the wealthiest Californians, who account for a sizable portion of the state's tax base.

The state’s population dropped by about 75,400 over 12 months, bringing it to over 38.96 million as of July 1, the U.S. Census Bureau estimated Tuesday.

California had a total of over 399,400 tax returns leave the state and over 241,200 come into the state in 2020-2021, resulting in a net loss of about 158,200, according to IRS migration data. For individuals, the IRS said the state netted over 331,700 fewer people in that timeframe.

The Legislative Analyst’s Office projected California could see a budget deficit of $68 billion for the upcoming fiscal year if not solved. That deficit largely due to a "severe revenue decline" that involved a 25% drop in total income tax collections in 2022-2023.

Time for California to take some of those streets paved with gold to the pawn shop. Nevertheless I'm sure Newsom has at least 20 excuses.

MSN

Not to worry, they're being replaced by Illegals

 

[Thinker101]

Not to worry, they're being replaced by Illegals

If we're only concerned with body count, if tax revenue is the concern, we need 10 of them to replace revenue from one Californian leaving.