California Tax Officials Stunned by Latest Revenue Decline

[sailingaway]

Golden state leaders expressed shock and dismay today when the State Treasury announced that income tax revenues for the last quarter had dropped to near zero in spite of a recent increase in the effective income tax rate to 100%.

"This is not possible" said a visibly shaken Governor Jerry Brown as he sunbathed under a full moon at the state capitol. "Before every one of the umpteen-odd times my administration has raised taxes, we've commissioned studies by prestigious universities on the potential effects. Each of those studies concluded people really don't care about tax rates and that quality-of-life issues, like being able to sing Kumbaya on the beach while stoned, are more important to the public. Every single one of those studies predicted revenues would go UP after we increased taxes, but every time they fell. It simply doesn't make sense - studies by prestigious universities are never wrong."

Brown said he would propose commissioning a study by a prestigious university to study the previous studies by prestigious universities.

New state treasurer and former theatrical producer Max Bialystock was particularly alarmed at the latest figures. "Our projections were for one trillion dollars in revenue this quarter and every penny of that has been allocated already: 100% for the teachers pensions, 100% for the state employees pensions, 100% for the governor's pension, etc, etc. Requiring one trillion dollars and collecting zero dollars puts us in a big hole - I don't have the exact figures in front of me but I'm sure it's a lot."

more: http://thepeoplescube.com/peoples-blog/california-tax-officials-stunned-by-latest-revenue-decline-t10519.html

[pochy1776]

its a lose lose situation California gets broke and votes in more democrats. and California expats move to Texas and vote more democrats.

[AGRP]

They should keep raising taxes until they get what they need. Go after the greedy businesses.

[squarepusher]

parody article

[Confederate]

I think that article is satire.

[rp08orbust]

The article is obviously satire. Everything I've read about California lately has hailed Jerry Brown as California's fiscal savior who has eliminated the budget deficit with taxes. As I recall, there was a time when Gray Davis was credited for the same thing, only the extra tax revenue never materialized.

[Carson]

Brown said he would propose commissioning a study by a prestigious university to study the previous studies by prestigious universities.


Then he can raise some more taxes for more studies...

Then he can raise some more taxes for more studies of the studies...

Then he can raise some more taxes for more studies, of the studies, of the studies...

Then he can raise some more taxes for more studies, of the studies, of the studies, of the studies...

Then he can raise some more taxes for more studies, of the studies, of the studies, of the studies, of the studies...

Then he can raise some more taxes for more studies, of the studies, of the studies, of the studies, of the studies, of the studies...

Then he can raise some more taxes for more studies, of the studies, of the studies, of the studies, of the studies, of the studies, of the studies...

[sailingaway]

parody article

I couldn't believe that wasn't picked up in the first post. I was about to quote the article on the sidebar about Reid fathering twin half werewolf babies out of wedlock...

http://tpc.pc2.netdna-cdn.com/images/various_uploads/Harry_Reid_Wereworf_Babies_OWS.jpg

[awake]

And they thought they could just raise taxes...lol.

[oyarde]

I couldn't believe that wasn't picked up in the first post. I was about to quote the article on the sidebar about Reid fathering twin half werewolf babies out of wedlock...

http://tpc.pc2.netdna-cdn.com/images/various_uploads/Harry_Reid_Wereworf_Babies_OWS.jpgI thought that part was real.

[BAllen]

You just don't understand. People will happily pay as much tax as necessary, and automatically work as hard and efficient as possible for the common good. Marx said so, so it must be true.

[Anti Federalist]

"This is not possible" said a visibly shaken Governor Jerry Brown as he sunbathed under a full moon at the state capitol.

ROFLcopter

[Tpoints]

its a lose lose situation California gets broke and votes in more democrats. and California expats move to Texas and vote more democrats.

which Democrat in TX got elected?

[oyarde]

You just don't understand. People will happily pay as much tax as necessary, and automatically work as hard and efficient as possible for the common good. Marx said so, so it must be true.Chuckle.