The economic and demographic shifts in California present significant hurdles. The departure of high earners, as you pointed out, strains the tax base, with a small fraction of taxpayers now carrying a hefty portion of the state’s budget burden.
The exit of over a million taxpayers and the purported replacement with what you describe as “illegal fake refugees” introduce additional complications. Balancing immigration policies, economic stability, and resource management becomes a nuanced challenge for California’s leaders.
The swift shift from a $100 billion surplus to a $68 billion deficit in just two years raises questions about fiscal prudence. Alleged maneuvers such as delaying taxes and subsequent spending decisions, coupled with the claim of a “controlled demolition,” indicate underlying governance issues that merit investigation.
California squeezed the rich so hard that they popped all the way to Texas.
Only 200,000 taxpayers in California (of 39 million population) now fund 1/2 of the state budget.
Over 1 million taxpayers ran away from California last year, fleeing to states with a bit more common… https://t.co/awmYP75G2g
— Wall Street Mav (@WallStreetMav) December 13, 2023
California is going bankrupt. Because it turns out you can’t eat virtue-signaling.
In just 2 years, they turned a $100 billion surplus into a $68 billion deficit. Partly because they delayed taxes to give the IRS more time to audit Californians, then pretended the delay never… https://t.co/KeB59iSaBO
— FXHedge (@Fxhedgers) December 13, 2023