California Budget Cuts Much Deeper Than Nevada
December 16th, 2007You won’t read about it in the newspaper much, but it turns out California (you know, the state with the “stable” tax structure because it has an income tax) is much worse off than Nevada is.
Here’s an article from the Sacramento Bee.
Gov. Arnold Schwarzenegger’s finance officials are estimating a California budget deficit next year of $14 billion, significantly larger than the $9.8 billion gap previously forecast by a state budget analyst, according to two sources who have spoken to the governor.
The growing estimate increases pressure on Schwarzenegger and lawmakers to cut spending, consider tax increases and possibly sell off public assets to close the budget hole.
Schwarzenegger last month ordered all departments to prepare spending plans for the fiscal year that begins next June 30 that are 10 percent below what they had anticipated. The governor and some GOP lawmakers also have suggested more immediate midyear cuts in spending.
December 18th, 2007 at 7:29 pm
I love Gibbons. He is doing what we hired him to do. He promise not to raise taxes and he is keeping his word.
The bonus is that Vegas Sun and Ralston harp and scream like pigs each day about how bad that is.
Life is good.
December 19th, 2007 at 12:16 pm
I live in California. It might have an income tax, but it does a terrible job with property taxes. If they were set to market assesments, it wouldn’t have such a big problem.
December 19th, 2007 at 4:47 pm
Eric, Cal’s property tax freeze was a long time ago. As Californians retire, those without a government pension tend to leave the state. When they put their homes up for resale, the assessment pops back up to market. For several years, CA piled on other taxes to make up for the freeze - but now, property tax is providing a fresh round of government hypergrowth. Of course, CA is not reducing any of the taxes they created to make up for what turned out to be a temporary slowdown in property tax growth rates.
December 22nd, 2007 at 7:46 am
Bob’s post is absolutely true. When I was helping with the Nevada Prop 13 initiative I discovered that California counties were experiencing huge growth rates in property tax collecions in spite of their Prop 13. In Nevada we need a similar law to protect all of us who own property (this protects renters, too, in an indirect way). I recently received a assessment on my Reno home that increased 65% in one year. If it weren’t for the 3% cap, my taxes would have gone up that much. When I was collecting signatures for the Nevada Prop 13 I told people we needed this or the powers that be would double our property taxes within a few years. What people do not realize is that the 3% cap can be removed in any legislative session by a vote of the Legislature. You should feel no more secure with that cap than you would feel standing behind a yellow caution tape with a charging Grizzly approaching. The ravenous liberals who control our government will stop at nothing to get your money.
December 22nd, 2007 at 8:41 am
Cliff,
I’m intriqued by your “scree”; “The ravenous liberals who control our government will stop at nothing to get your money.” For the record, two-thirds of our government is lead for Republicans! The Executive Branch (submitted budget and signed off onthe budget), is Governor Jim Gibbons. The Nevada Senate has a Republican majority, lead by Razzio (R).
At your recommendation, I have now added “Nevada Republican Party and Elected Officials” to my dictionary’s definition of “liberal”.
You get what you vote for; and voting for them time and again hoping that next time they’ll change is a sign of insanity! Vote smart.
December 22nd, 2007 at 9:37 am
Having lived in California, we left due to the unrelenting
tax increases which have not stopped. California is a lost cause. The Dina Titus’s of the Nevada want to turn us into
California. I’m loving the fact that the budget is being cut back. They should make it permanent.