Analysis: California budget fix relies on good times for the rich

How long will it be before the wealthy leave CA? Why would anyone want to stay? Brown is depending on the personal income taxes of the wealthy who just might decide they can live and make their money in states that don’t depend on them for the revenue of personal income taxes.

The wealthy can pick up and leave without worries of financing a move – they can afford to go wherever they want, so look for more to desert CA and leave the state in worse shape.

This article has a aristocratic elitist overtone, nationally the top quintile makes over 60% of the income which makes the “top 1 percent of income earners provided 40.9 percent of the state’s revenue” unfairly low.
-Copy and post to your representatives.-
Specialization breeds biases that ultimately aggregate as ideological discords. Democracy demands a generalized synergism to be greater than the summation of generalization(s). Society expects all earnestly responsible communication to be crispy brief, there-in lies the rub of the ideological phraseology biased discord. We must adopt generalities that ‘apply in every special case’ else we cause self extinction.
Poverty/subsistence margin flat rate of taxation is fairness. The upper quintile views fair as the more you make the more you take home. This meets both criteria. The Washington bureaucrats missed a big opportunity to propose a margin flat rate tax that balances the budget. Rates $0-20K 0%, money above $20K 35%; couples freely share; all income bundled and taxed in summation form, no exemptions. And provide business relief with no business taxation with provisions on ‘partnership and disregarded’ businesses to transfer funds into personal accounts as the taxable income. Ends family business inheritance taxation, except when sold for personal profit (always taxable). The fiscal cliff resolution applies a higher 39.6% rate accommodating a 20% capital gains rate, and does not balance the budget. This poverty/subsistence margin flat tax balances the budget eliminating all other taxes (payroll, gasoline…) with a lower 35% flat tax rate. It is net income progressive at a lower rate than the federal income single standard deduction form.
-Copy and post to your representatives.-

Silver Spoon Hippie Lib & California Uber-Alles Governor Moon Beam Brown had one term in the 70′s to destroy the Golden State, now he’s finishing it off.

Silver Spoon Hippie Lib & California Uber-Alles Governor Moon Beam Brown had one term in the 70′s to destroy the Golden State, now he’s finishing it off.

I like the ‘surplus’ spin.

I like the ‘surplus’ spin.

The title ‘relies on the good time for the rich’ is in itself false. The system approached self extinction through relying more on the lesser of incomes than the greater of incomes. As the lesser of incomes failed so did the deficit increase. The upper quintile became so self-rich as to destroy/extinct the systems balance between ‘regeneration of infrastructure’ and ‘replenishment of it’s laborers’ that sustain/rebuild it.