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interesting
interesting
California Defies Expectations of Doom, Promises Massive Tax Rebate
As California approaches the biggest state tax rebate in U.S. history, Bloomberg News co-founder Matthew A. Winkler questions its reputation as a state doomed by over-regulation and high taxes.
In fact, California "has no peers among developed economies for expanding GDP, creating jobs, raising household income, manufacturing growth, investment in innovation, producing clean energy and unprecedented wealth through its stocks and bonds." By adding 1.3 million people to its non-farm payrolls since April last year — equal to the entire workforce of Nevada — California easily surpassed also-rans Texas and New York. At the same time, California household income increased $164 billion, almost as much as Texas, Florida and Pennsylvania combined, according to data compiled by Bloomberg. No wonder California's operating budget surplus, fueled by its surging economy and capital gains taxes, swelled to a record $75 billion...
While pundits have long insisted California policies are bad for business, reality belies them. In a sign of investor demand, the weight of California companies in the benchmark S&P 500 Index increased 3 percentage points since a year ago, the most among all states, according to data compiled by Bloomberg. Faith in California credit was similarly superlative, with the weight of corporate bonds sold by companies based in the state rising the most among all states, to 12.5 percentage points from 11.7 percentage points, according to the Bloomberg Barclays U.S. Corporate Bond Index. Translation: Investors had the greatest confidence in California companies during the pandemic. The most trusted measure of economic strength says California is the world-beater among democracies. The state's gross domestic product increased 21% during the past five years, dwarfing No. 2 New York (14%) and No. 3 Texas (12%), according to data compiled by Bloomberg. The gains added $530 billion to the Golden State, 30% more than the increase for New York and Texas combined and equivalent to the entire economy of Sweden.
Among the five largest economies, California outperforms the U.S., Japan and Germany with a growth rate exceeded only by China...
Corporate California also is the undisputed leader in renewable energy, with 26 companies worth $897 billion, or 36% of the U.S. industry, having reported 10% or more of their revenues derived from clean technology. No state comes close to matching the 21% of electricity derived from solar energy. Shares of these firms appreciated 282% during the past 12 months and 1,003%, 1,140% and 9,330% over two, five and 10 years, respectively, with no comparable rivals anywhere in the world, according to BloombergNEF. The same companies also increased their workforce 35% since 2019, almost tripling the rate for the rest U.S. overall and four times the global rate...
California companies invested 16% of their revenues in R&D, or their future, when the rest of the U.S. put aside just 1%...
Much has been made of the state reporting its first yearly loss in population, or 182,000 last year. Had it not been for the Trump administration preventing new visas, depriving as many as 150,000 people from moving to California from other countries annually, the 2020 outcome would have been more favorable.
CA GDP > TX + FL GDP
California gets its way on appeal.
9th Circuit Appeals Court blocks the overturn of California's assault weapons ban.
The US 9th Circuit Court of Appeals has blocked a federal judge's controversial ruling that overturned California's longtime ban on assault weapons, in which he likened the AR-15 to a Swiss Army knife.
In an order Monday, a three-judge panel on the federal appeals court issued a stay of US District Judge Roger Benitez's order earlier this month that overturned California's three-decade old assault weapons ban.
The state's current assault weapons laws will remain in effect while further proceedings continue, California Attorney General Rob Bonta said in a statement on Twitter.
https://www.cnn.com/2021/06/21/polit...ked/index.html
*makes the sign of the cross*
https://www.surveyusa.com/client/PollReport.aspx?g=36cdcb0b-7cfa-4b55-8704-d1f02a9fe6e5Just prior to the start of the first televised debate in the Gavin Newsom recall election Wednesday evening, a shock poll showed the governor losing the first question ("Should Gavin Newsom be recalled?") by double digits.
The poll came from Survey USA and the San Diego Union Tribune, and was conducted among 1,100 Californians from Aug. 2 to Aug. 4. It found that 51% of respondents were in favor of recalling Newsom, while only 40% wanted to keep him in power. The previous Survey USA/San Diego Union Tribune poll from May found 36% in favor of the recall with 47% opposed.
Golden State is called that for a reason - urine levels are high
And a $100 billion surplus they're sitting on.
It moves from "lol California" to sheer depression knowing not much, if any of the state's increased wealth, is being utilized to address any of the number of crises we've been facing in that same timeframe.
I get your M.O, but bragging about all the money they make while the state burns is isn't much of a flex.
Texas is sitting on a huge surplus and not solving any problems with it either.
Too bad they don't have the kind of responsible adults running the state that Germany does.
It's easy for Germany, bum, they ain't allowed to have an MIC. Hitler worked out after all.
That stands to reason since California is thefifth-largest economy in the world (as of July) and the largest donor state to the federal government. In 2022, the most recent tax year analyzed by the Rockefeller Ins ute, it paid $83.1 million more to the federal treasury than it received. Without the COVID aid it received that year along with every other state, its “donation” to the rest of the country would have been over $126 million.
California is an easy target, but it’s far more than that. It would be comparable to Canada if it were its own country, and that is not as far-fetched as it seems. A poll released January 19, as Trump was about to take office, showed 61 percent of Californians favor a peaceful “Calexit” and 77 percent said California should control its state borders “more like a country.” A few days later, as Trump was about to visit, the California secretary of state cleared a pe ion drive to get a secession proposal onto the 2028 ballot.
Calexit would be a good idea as it's practically its own country anyways, much more than any other state, even states that are proportionately bluer like Maryland and Vermont. They'd have to continue to be a military ally, of course, since the greater USA has so many resources there. To get a different 50th State, you've got options. One of the most obvious geographical things that would make sense would be to throw Michigan Dems a bone by granting the U.P. its own statehood. Sure the GOP would get 2 insta-flips in the Senate but the remaining Michigan would be bluer. Then you'd have to reapportion the electoral college and congressional seats from California and that would definitely heavily favor the Republicans.
Why would you want to get rid of the greatest economy in the nation? You basically got it backwards. What we need to do is drop the dead weight of Mississippi, Alabama, Tennessee.
Maybe trade them to Mexico for Cabo, Cancun, Playa del Carmen. I just don't think Mexico will bite, tbh
Calexit doesn't make sense unless the US stops being a Democracy. But even in that case, it wouldn't be peaceful. We're talking about 15% of the US GDP.
GDP is overrated when you don't account for liabilities. CA might produce 15% of the US state level GDP but also 25% of the US state level debt.
The most expensive state. The most high maintenance state. The highest producing for sure, but also borrowing the most debt. Shedding CA would be a net gain even if a gross loss.
How is Tennessee dead weight? It's got a booming economy and apart from Florida the most efficient state in the South with tons of jobs in all sectors and a massive music entertainment sector. The other two are pretty much dumps I can't really defend. If you wrote Kentucky instead of Tennessee maybe I'd agree to some extent. But you can't just break up natural geographic parts of a country and have a modern Kaliningrad. At least with California it's attached to the Baja peninsula.
Adding a state without subtracting and vice versa doesn't make sense. It makes sense to have exactly 50 states because it makes all the numbers work out well especially for us metric system lovers. Hawaii has no business being a state and never has, it's impractical to ship so much stuff out there. It was just fine as a satellite province before the late 50s. I'll take Alberta and Saskatchewan, tons of oil up there.
Last edited by UNT Eagles 2016; 02-04-2025 at 01:42 PM.
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