California went from a surplus to a deficit under Newsome

They don't even think about it that deeply. It's just an attempt to troll with a headline.

 

Florida has one of the most regressive tax structures in the US. Sadly the wealthy haven't gobbled up enough of the wealth last year leaving progressive tax structures softer. Look at this terrible news for the 1%:



CEO Pay Packages Fell Sharply in 2022, the First Decline in a Decade

 

Does Florida have a surplus or a deficit?

Did Florida cut taxes under DeSantis or raise them?

How are the taxes in Florida compared to California?

Does California have a deficit?

 

Isn’t Florida a taking state rather than a giver

 

Does 715 know how to google?

 

I know the answer to each of those questions.

Just want to hear you answer them.

 

The WSJ is being a bit cagey there, deceptively. The use of the term "pay packages" and "at least on paper". What they mean is that most executives have unexercised stock option at some very favorable price, i.e., they can "buy" stock" at far below the price it is currently trading. That has many advantages, including taxes and being able to say that you have reduced or are taking a modest "salary" for PR purposes when that is a small part of your total compensation.

In this case, they took a hit "on paper" when the market went down some. Didn't actually cost them money. And the big shareholders like Bezos now simply borrow against their shares to finance their lifestyles, to avoid cap gains taxes

 

I am not sure how they are related to California's budget shortfall. Maybe you could simply type out what you are thinking then.

 

People keep saying "but Republicans" on this thread, but they're not bringing up Florida.

I figured it would be worth making an apples to apples comparison, but apparently those aren't allowed if they don't support the narrative.

 

Ultimately states can’t have deficits.

Don’t know

I assume lower. With the tourist industry they can afford to share some of tax burden with tourists.

Projected but states can’t carry deficits.

California has more services and probably a better infrastructure. In addition they probably have more immigrants to contend with (that may or may not be true). Plus their taxes are heavily income tax based which are much more volatile.

Personally I am not a big proponent of state income taxes but that’s their choice. They did shoot themselves in the foot decades ago with their property tax caps that badly lag property values.

I know you and your Desantis buddies love to pump Florida as some kind of economic miracle, but it really isn’t. It doesn’t have a really big Fortune 500 presence compared to its size. While low taxes are attractive to companies, so are infrastucture, schools, etc.

 

You win, I suggest you and everyone who thinks like you move to the economic wonder that is California. I wish you all the best.

 

I live in TX.

I’m not pimping CA. Unlike many of you on this board I don’t view everything is a damn contest. Each of the states have their attributes and their warts.

 

Are there great states? Or are all states just "meh, there's pros and cons to all of them."

 

Lots of apples and oranges criteria. Some places are great to visit, other better to live.

CA could be the greatest state but it’s governance is holding it back.

I’m from FL. I have mixed feelings about going back permanently.

If I had zero constraints I may trying living in New Zealand. Whether I’d like it long term I don’t know.

 

How much federal $$ did Florida get while refusing to expand medicaid?

 

yeah, we take all those wanting to flee blue states

 

No...just the opposite.
Florida is among the better states in taking in revenues and controlling their expenses.
Click on Compare State Obligations for unfunded pension liabilities, debt, etc.

Fiscal 50: State Trends and Analysis | The Pew Charitable Trusts (pewtrusts.org)

 

Why do people act like Florida is the only state that gets federal money?

 

I feel terrible for Californians. They're really missing out by not having a government full of bigoted idiots who want to wage war on books, free speech, higher education, and LGBTQ people.

 

Unfunded liabilities like pensions are difficult for many states. At least on paper. Last I looked Cali has some big ones as do many others. This budget thing is a year to year item and gets adjusted accordingly. All states have up and down years.

Californians will decide through voting how their economy works. Since I don’t live there it doesn’t matter to me one iota.