Yep. The state with the highest income tax rate, CA,
has a record deficit,
SACRAMENTO, Calif. (AP) — California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his national profile.
and FL, a state with no state income tax,
has a surplus.
Florida’s financial outlook for the upcoming fiscal year indicates an estimated $7.02 billion in leftover funds for Fiscal Year (FY) 2024-25.
Will Democrats learn anything from this? Not a chance.