3 ms·
And hence we have the boom-bust cycles of the California tax base, with alternating waves of budget surpluses and steep shortfalls.
by hkmurakami 10y ago
And hence we have the boom-bust cycles of the California tax base, with alternating waves of budget surpluses and steep shortfalls.
- zaroth 10y agoThis is due mainly to CA's very progressive tax rate, it makes the lions share of income based on capital gains and therefore the tax revenue much more variable than in other states. This is unrelated to property taxes, which go to the city/town not the state.