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Newsjock Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 11:47 AM
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Californians' income falls for first time since WWII
Source: Sacramento Bee

Government statisticians have put a number on Californians' paycheck pain last year: about $40 billion.

The federal Bureau of Economic Analysis said personal incomes of Golden State workers fell by that amount in 2009 compared with the previous year the state's first year-to-year decline since World War II. In the Sacramento region, income was off about $800 million.

... California's decline was a third more than the national 1.8 percent personal income drop, reflecting the relative intensity of the state's recession.

... Reduced incomes have been reflected in other ways. Californians have reduced retail spending, and state and local governments have felt the effects in lower tax revenue.

In June, the State Board of Equalization said it collected $48.4 billion in revenue in the 2008-09 fiscal year, about $4.7 billion less than the previous year. A primary factor, the board said, was a decrease of $68.5 billion (12.4 percent) in taxable sales from 2007-08.

Read more: http://www.sacbee.com/2010/08/11/2950736/californians-l...
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 11:50 AM
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1. recommend
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Tuesday Afternoon Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 11:51 AM
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2. K&R
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femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 11:57 AM
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3. CA is usually
a trendsetter state...unfortunately in this regard.
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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 11:57 AM
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4. I have the impression that Enron helped usher the State of California
to this economic chaos.
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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 08:18 PM
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5. This has tremendous consequences for the state budget limits imposed by Prop 4
Edited on Wed Aug-11-10 08:18 PM by ProgressiveProfessor
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dimbear Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-12-10 01:52 AM
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6. It displays the comparative advantage of electing a dilettante
as opposed to an experienced public official. Something to think about for fans of Mrs. Harsh.

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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-12-10 02:54 AM
Response to Reply #6
7. Not sure how that fits, but sure...
Have to wonder if it will indeed trigger Prop 4/Gann Initiative spending limits)
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