Why is CA so far in debt?
 

It is now at 21 Billion and CA has the wealthiest people in the nation. What does that debt comprise of? How will it turn around? Just sayin...

I think they spend so much time surfing on the beach :) and the 'richiest' people is always who are more in debt. They just don't want to pay taxes. That happens not only in CA, but everywhere in the world where's some wealthy people.

Maybe we could stop voting in favor of propositions for all these wonderful programs and toys that cost billions of dollars without any reasonable plan for how to pay for them. That would be a start.

I thought money grows on trees?

same reason why everyone else is in debt:
they spend more than they make

Called tax loopholes... the rich get richer... the poor get poorer.... yeah that little problem. :)

someones gotta pay for hollywood

So there is an IOU somewhere, so what is it for?

someone order CA a printing press like the one the fed reserve has

The real estate market tanked. California lives and dies on property tax. They made so many bets on the housing market to keep going up. Now that the housing market has fallen flat it leaves a big hole for California.

Another thing is the teachers union and the prison guard unions have California by the balls. Prison guards make insane amount of money on overtime. Soon as they heard we were going to outsource some prisoners to out of state jails they lobbied the fuck out of the government to put a stop to that.

Oh and lets not forget about our neighbor to the south. When an illegal comes across the border and gets hurt or has an illness who do you think pays for the medical care, WE DO! You think Mexico ponies up any money? Or what about all the social services paid out to illegals, you think Mexico chips in. Then when the government tries to crack down on illegals getting state funded welfare, you get all kinds of people crying that we are striping away rights.

California has it bad!

no plants, Pot Plants

Illegal aliens
Democrats / liberals

http://en.wikipedia.org/wiki/Prop_13

"The proposition's passage resulted in a cap on property tax rates in the state, reducing them by an average of 57%."

You cant cut taxes and cap them and expect to meet the budget every year.

I paid less property taxes on a million dollar home in Cali then my brother did in NJ on a $325,000 house.

Thats a hard hit on real estate if there is no incentives to move property.

That sure sums it up ... Why is it so simple but hard to understand?


.

Still waiting on a high speed railway from San Francisco to LA to be built. We are also funding research in embryonic stem cells since the Feds didn't want to do it.

Because we haven't legalized pot already. Soon hopefully.

This isn't a problem with the rich. California has one of the highest income tax rates of any state. We have more people than any other state also. Economy of scales dictates that we should have the lowest tax rate not the highest and yet we still are in a deficit. This is a problem with the spending not the rich.

Social programs. Welfare. Illegal aliens. Public employees.

There, you have it.

illegals

arnold .....