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Bill Maher Rips Republicans Over California’s Booming Economy

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posted on Jul, 2 2016 @ 04:34 PM
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I don't get it, for years we've been hearing how CA is broke, spends more money than it takes in etc. Now the economy is booming? I guess a booming economy is a good thing because they have a damn lot of taxes to pay. Jerry Brown must have forgotten about this little problem:


Despite budget claims, California is still broke and owes state workers $195 Billion

Don’t believe the hype. Jerry Brown’s California is still broke. California, depending on whose figures one uses, will have a budget surplus of $6 billion to $8 billion by June 30, 2015, the end of the 2014-2015 fiscal year.

Gov. Jerry Brown, a Democrat, has proclaimed that “California is back.” Just a few years ago, the state had a deficit of $26.6 billion.

The state’s voters should keep in mind that between 2001 and 2014 — a 13-year interval — California had 10 deficits, three surpluses, and one year in which there was neither a surplus nor a deficit.

But has economic health really returned to California? Probably not, if one examines the unfunded liabilities the state currently has.

California is still broke

Dan Walters, a respected columnist for the Sacramento Bee, has estimated that the state’s unfunded liabilities are between $500 billion and $1 trillion. The Volcker Alliance, a group headed by Paul Volcker, a former chairman of the Federal Reserve, estimates that the state has $195 billion in promises to state-government employees.

contracostabee.com...


Could it be Jerry Brown has some new




posted on Jul, 2 2016 @ 04:45 PM
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originally posted by: onequestion
a reply to: Annee

You may be ignoring the homeless people everywhere and the tent city at the civic center in Santa Ana



Is it still there?

They've had them in downtown Los Angeles too. But, they gave them a deadline.

I worked in Santa Monica. Don't think I'm ignoring the homeless.

I live at the beach. Plenty homeless sleeping in parks and beach.

Its just not exclusive to CA.

Seattle has a terrible problem with homeless youth.


edit on 2-7-2016 by Annee because: (no reason given)



posted on Jul, 2 2016 @ 04:49 PM
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a reply to: Annee

California has 20% of the nations homeless

The economy mic problems of the last decade haven't just magically disappeared they are just being ignored now more than ever



posted on Jul, 2 2016 @ 04:58 PM
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Nobody said California was now a paradise. Sure things can go bad but the fact is the GOP ideas about taxes and spending have turned out to be self-serving lies.

They always pushed these ideas through obligation they had to the rich.



California roars back, but there's a 'dark side'
www.cnbc.com...



California was hit hardest by the recession, but the Golden State has come roaring back with a vengeance. A new tech boom, the housing recovery and a temporary tax increase approved by voters under Proposition 30 have led California out of a deficit and into a budget surplus. Unemployment has fallen from a peak of 12.4 percent to 6.1 percent.




The good news is that California can expect to see more people earning more money. The Los Angeles Economic Development Corp. predicts the state will add over 386,000 jobs this year "with the biggest gains coming in administrative and support services, professional, scientific and technical services, and leisure and hospitality." California contributes 13 percent to U.S. GDP, with an estimated output of $2.3 trillion last year. The UCLA Anderson Forecast predicts the state will see employment grow 2.7 percent this year, before starting to slow.



posted on Jul, 2 2016 @ 06:21 PM
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originally posted by: onequestion
Eliminate income tax period.

Government can # off.

Military invasion?

Mandatory m16 in every household and 1 year military service at 18



No income tax and compulsory military service? You'd LOVE North Korea!



posted on Jul, 2 2016 @ 06:38 PM
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a reply to: buster2010

You really want to talk about what a cluster fu** Illinois is?

Let's take a peek, shall we?

www.illinoispolicy.org...

Illinois is often used as the poster child for how not to run a state. Money-hungry politicians perpetuate the state’s spending problem with higher taxes and more borrowing. Meanwhile, the state’s tax base continues to erode as tapped-out families and businesses move to states with more opportunities and friendlier business environments. Illinois’ debt has grown so quickly in recent years that the state now has some of the highest debt levels in the nation. Illinois’ pension and other bonded debt exceeded $127 billion at the end of fiscal year 2013.


At one point, the state could not even pay lottery winners over $600. Chicago is just the top turd on this mountain of sh**
edit on 2-7-2016 by DAVID64 because: (no reason given)



posted on Jul, 2 2016 @ 07:42 PM
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Well, let's see.

I'm old enough to have attended college at a time when CA paid for my tuition through grants and scholarships.

So, no student loan debt.

Bought my first home 4 years ago, just 2 1/2 miles from work, and just three blocks from a light rail station that, if I were to use it, would drop me off, literally, at my employer's front door.

By the way, my employer subsidizes half the cost of my monthly fare, if I were to use that benefit.

And my home has more than doubled in value since I bought; Yes, Doubled.

I'm just $2K from being free from credit card debt; that's about 5-6 months more of payments...at 3% APR because I worked on maintaining a good credit rating.

Yes, I pay dues to a union that could do a whole lot better for its members than it does; but, in return, I have a defined benefit pension (that I plan to start using next year!), and great health, vision, and dental plans.

I may not be wealthy, but I live well, and my future in this Golden State, at least for me, looks even better.

As they say,

"Oy Vey, What's not to like?"



posted on Jul, 2 2016 @ 08:11 PM
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a reply to: Abysha

You mean Swizterland?



posted on Jul, 2 2016 @ 08:11 PM
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a reply to: Bhadhidar

Musta been nice to grow up during the best years of the economy.



posted on Jul, 2 2016 @ 08:49 PM
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originally posted by: onequestion
a reply to: Bhadhidar

Musta been nice to grow up during the best years of the economy.


And the worst.

2008 was just 8 years ago.

The recession of the '80's was a tough time for a graduate just out of college.

The end of the Space Race hit one of the State's major industry's like a death blow.

If we are wise learn from our lows to make the best of our highs.



posted on Jul, 2 2016 @ 08:51 PM
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a reply to: Bhadhidar

8 years has been nearly my entire adult life.

For perspective.



posted on Jul, 3 2016 @ 03:05 AM
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I seriously don't understand how people can defend Reaganomics, it's just so obviously and blatantly flawed.



posted on Jul, 3 2016 @ 03:29 AM
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a reply to: StoutBroux

cali has never been broke, rethink your knowledge
edit on 3-7-2016 by DOCHOLIDAZE1 because: (no reason given)



posted on Jul, 3 2016 @ 03:34 AM
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a reply to: onequestion

there is no possible way to know what homless live where. so please rethink you statment.


i will give u this, due to the diverse climate in cali, drifters will drift this way, but putting a number on this subject is not responsible
edit on 3-7-2016 by DOCHOLIDAZE1 because: (no reason given)

edit on 3-7-2016 by DOCHOLIDAZE1 because: (no reason given)



posted on Jul, 3 2016 @ 03:43 AM
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a reply to: Eilasvaleleyn

the fact that you use the term Reaganomics and believe its a thing , and speak about it, just shows you are lost just as the people you dont agree with in a political spectrum
edit on 3-7-2016 by DOCHOLIDAZE1 because: (no reason given)



posted on Jul, 3 2016 @ 04:16 AM
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a reply to: DOCHOLIDAZE1

Sure looks like a thing.


Reaganomics ˌ
reɪɡ(ə)nˈɒmɪks/
noun: Reaganomics
The economic policies of the former US president Ronald Reagan, associated especially with the reduction of taxes and the promotion of unrestricted free-market activity. "the claim that cutting taxes generates more revenue was a key element of Reaganomics"


I suppose it would be better to call it "Trickle-down" in this day and age. Tends to be part of the GOP or Libertarian platforms, although the Democrats also enjoy doing things that benefit the already-wealthy.

I might have used it a little bit out of context and confused you, I apologize.
edit on 3/7/2016 by Eilasvaleleyn because: Reasons



posted on Jul, 3 2016 @ 10:23 AM
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originally posted by: Annee

CA is a big state.

My area has great schools and no visible/measurable local gang activity.



True, but you are retired and can live where you want. My skills would most likely put me in a big city. How is the cost of living for you there? I have 0 state tax as example



posted on Jul, 3 2016 @ 12:15 PM
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originally posted by: onequestion
a reply to: Bhadhidar

Musta been nice to grow up during the best years of the economy.


What years were those?



posted on Jul, 3 2016 @ 12:30 PM
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a reply to: Xtrozero

It really depends on your perspective. 2016 is great... If you're part of the wealthy upper echelon. Otherwise, not so much. 1976 must have been awful for them, the top 1% received only 8.9% of pre-tax income, as opposed to the approximately 23% in 2007. What did the economic situation look like in 1976? Actually, 1975, what did it look like in 1975?
edit on 3/7/2016 by Eilasvaleleyn because: Reasons



posted on Jul, 3 2016 @ 09:08 PM
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originally posted by: Eilasvaleleyn
a reply to: DOCHOLIDAZE1

Sure looks like a thing.


Reaganomics ˌ
reɪɡ(ə)nˈɒmɪks/
noun: Reaganomics
The economic policies of the former US president Ronald Reagan, associated especially with the reduction of taxes and the promotion of unrestricted free-market activity. "the claim that cutting taxes generates more revenue was a key element of Reaganomics"


I suppose it would be better to call it "Trickle-down" in this day and age. Tends to be part of the GOP or Libertarian platforms, although the Democrats also enjoy doing things that benefit the already-wealthy.

I might have used it a little bit out of context and confused you, I apologize.

Disagree. Libertarians are mostly against the income tax altogether. I would personally rather see consumption taxed than earnings. It is expensive to compile. It has been touted as a means of 'taxing the rich', but the wealthy have always found ways to avoid income taxation. Tax consumption. Nobody makes their own shoes. Few people in this world are truly self-sufficient within their own household. Everyone will pay a consumption tax. Anyone who buys new products would...



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