Bankrupt con man, makes fun of states with a better budget than him or any of his supporters states. News at 11

The visual representation of how of a shallow gene pool is created

What do you think of this?

https://www.forbes.com/sites/thomasdelbeccaro/2018/04/19/the-top-four-reasons-california-is-unsustainable/#3330f2c43a23

Do you think people want to drive their lamborghinies around streets filled with human waste? These people have the resources to relocate if they choose, unlike the vast majority of californians. What then? 50% from 0.375% of population. Think about it.

you know where he wont live? in a shithole like all your low tax states

Bezos lives in Washington, not California. A state with no state tax.

"Taxpayers in Washington may dodge income taxes, but they pay some of the highest sales taxes in the country, with a combined state and average local rate of 9.18%."

Income tax is what I meant.

and fair enough... http://money.com/money/4993071/elon-musk-spent-72-million-on-his-homes-in-bel-air-heres-what-his-lavish-life-looks-like/

A State where the tax revenue share paid by the same wealtiest 150,000 went down to close to a third during the onset of the Great Recession.

In other States? Not as much as a difference, given that they haven't as many prosperous - let alone super wealthy - and whose Federally dependent budgets have no surplus whatsover since always.

Basic math for morons:

California total residents 40,000,000

Therefore 150,000 divided by 40,000,000 = 0.00375 or 0.375%.

Meaning less than half of one percent pay nearly 50% of all income taxes.

And your dumb enough to state "well the other half of the taxes are not paid by the rich" ...WHAT? So 99.625% of the other 40,000,000 people pay half of the Bill and you think this a goof thing?

This might be too much for you so let's simplify, and let's say the CA total tax bill is $1 Billion.

So 150,000 people pay $500 million (Group A) and 39,850,000 pay $500 million (Group B). That means, if we assume a simple average, members of Group A pay 3,333.33 each while members of Group B pay $12.55 each.

Do you get it now?

Lay off the dumb supplements. You're over doing it.

It's their fault for not making mega millions so they can pay more into the system instead of the measly amount they should forgo paying their bills for.

This person has zero understanding most things he/she posts about. Budgets and financial drivers are over his/her head.

What he said about the world's FIFTH largest economy is verifiable.

But you know that already.

California has a whipsaw economy. It success largely follows the stock market. When the market is up, the budget goes into a surplus. When the market declines, we usually see large deficits. We saw this in 2010, as the market declined the State suffered large deficits and credit rating downgrades from the bond rating agencies.

Why is this? It's because of where CA derives a majority of it's tax revenues. The major portion of tax revenue is sourced by an exceedingly small portion of the State's citizens, you call these people the 1%. In fact, roughly 150,000 residents of CA pay nearly 50% of all income taxes collected by the State. That's incredibly unstable for a State with nearly 40 million residents.

https://www.nationalreview.com/2019/04/california-high-state-taxes-obsessive-collectors/

Yes CA is a rather large economy, and I never refuted that, as your idiotic meme implies. The size is not the question, it's the strength and ability to withstand shock. On that front CA is weak. This can be observed, for instance in market, the CDS market. CDS stands for Credit Default Swaps. This shows how much it costs an investor to buy insurance against a given financial entity defaulting on their credit obligations. In 2010-2011 I remember seeing it was cheaper to insure the debt of country Kazakhstan against default than it was to insure California GO bonds against default. The fact that CA was recently the 4th largest economy in the world didn't seem to matter.

Like I said, these things are your head and the OPs head.

Quotations and citing the source are in order, because we both know the first time you heard of Kazakhstan, lets alone CDS's was when you c/p'd it now.

No shit, Sherlock, so does the rest of America and Planet Earth.
Obama's Stimulus? The "Shovel Ready Jobs" it didn't go to because the bucks instead went to rescue the buget of municipalities throughout America that gambled it away of Wall Street, investing goverment funding when times were good and even delving into Derivatives because what's wrong with gambling for even more money not ring any bells?

From the Great Recession to the Great Depression, the economy took a nosedive when the markets took a nosedive. That richer States like California and New York where investing is a thing took a harder hit than Dust Bowl and mangrove States did is not coincidental, even now. 9/11 that the party hacks are suddenly recalling? Two buildings in NYC and the entire Planet went into a mini recession. Katrina hits the Bayou and while those perpetually floundering States floundered a wee bit more, the Stock Market wobbled for a whole three days and it was back to normal outside the confines of the market 'driving' Shrimping Industry, golly gee.

Your Economics Degree sure done you well. Don't splash the jizz bucket in one place.

Source on CDS: https://www.zerohedge.com/article/bill-lockyer-furious-california-riskier-kazakhstan-sends-angry-letters-goldman-et-al-about-s

Even CA Treasurer was uspet about CA being riskier than Kazakhstan.

You are not a smart person Vagabond. You suffer tremendously from the Duning-Krueger effect. And it's sad to watch you flail about in your desperate attempts to half grasp things you don't understand.

Nothing in your response explains the structural inefficiencies in Californias economy and it's tax revenue base.

It's idiotic to celebrate a $20 billion surplus then attempt to dismiss the $24 billion defecit of 09-10. That's the entire point you epic f**ktard. The State is highly volatile. Nothing the State has done at a legislative level has mitigated this risk. In fact, the State is even worse off now in terms of nominal debt issuance and required debt service payments than before the crash.

Further, if CA is doing so well, can you please explain the negative net domestic migration that has been so persistent? Or perhaps, how more businesses are relocating outside of CA than relocating to CA? I am sure that bodes well for the economy in your mind.

Like I said, you are out of your depth.

https://mediabiasfactcheck.com/zero-hedge/

"California's CDS have been trading wider than spreads on countries including Kazakhstan and Croatia, said Lockyer."

https://www.reuters.com/article/us-california-cds-idUSTRE62T3MW20100330

No what little bitch?

That was the point you insipid mental twirp. It was written in 2010, as I said, in 2010, when the stock market was down, so was CA's economy, which again underscores my statement, that CA has a whipsaw economy reliant on the health of the stock market which is outside the CA Governor's control.

God you're stupid.

and what difference any of it makes to california "sanctuary state" TODAY having a 10,000,000 surplus while red states are in the hole...

twerp*

Oh, the irony.

"jplowry7770

I copy and pasted nothing. Nice accusation, and even worse attempt at addressing the issues brought up. Again this proves my point regarding your lack of understanding of the real issues. You are however incredibly adept at reading headlines"

"jplowry7770

Source on CDS: https://www.zerohedge.com/article/bill-lockyer-furious-california-riskier-kazakhstan-sends-angry-letters-goldman-et-al-about-s"

Nothing from you but ad hominems and copypastes that you deny then post the link for.
Yeah, pure Mensa material there.

PS: Scroll up the thread for another 50% figure.

Scroll up. Thai idiotic post about the other 50% has been exposed for what it is. A pile of half thought out idiocy.

Also, you asked for a source, so I give you a source confirming my claim, then I am accused of copy/paste by giving you what you asked for.

That's brilliance

You lied, you empty headed quote dependent doink, you lied. And a good 180secs wait later you posted something to contradict your own feeble lie.

Plus you've not only NOT said anything to contradict what I said, you offered some delightful math to indicate you understood it.

So take your victory lap around your outhouse and catch up on your zzzzz's when you're done.

Try to discuss nuance with these twirps and this is what you get.

I discuss the tax base, how it relates to the States financial health and volatility, as well as how that volatility manifest in a given financial market, and you imply there was no nuance.

The problem clearly is not my writing. The problem rest with your reading comprehension.

Scroll up and lOOk at YOUR say-nothing comment he replied to.

HINT: It wasn't your lazy copy/paste one to me just now.

Reading comprehension indeed.

I copy and pasted nothing. Nice accusation, and even worse attempt at addressing the issues brought up. Again this proves my point regarding your lack of understanding of the real issues. You are however incredibly adept at reading headlines.

Of course you didn't skippy, hence you citing the source of what you claim right here came off the top of your lovely echochamber of a head.

"jplowry777

Source on CDS: https://www.zerohedge.com/article/bill-lockyer-furious-california-riskier-kazakhstan-sends-angry-letters-goldman-et-al-about-s"

Nevermind the letter from the CA State Treasure at the time is on the source page.

Shit's boring, and you haven't expressed a single original thought.

Just keep posting your links for what you "didn't" c/p and go back to sleep, you silly mimic monkey.