{"id":1097,"date":"2006-05-13T00:05:27","date_gmt":"2006-05-13T00:05:27","guid":{"rendered":"0"},"modified":"2006-09-28T12:09:46","modified_gmt":"2006-09-28T12:09:46","slug":"the_onecow_stat_1","status":"publish","type":"post","link":"https:\/\/marcdanziger.com\/?p=1097","title":{"rendered":"The One-Cow State Redux"},"content":{"rendered":"<p>I&#8217;ve written <a href=\"http:\/\/www.windsofchange.net\/archives\/007963.php\" target=\"browser\">in the past<\/a> (and have been <a href=\"http:\/\/goldenstateblog.latimes.com\/goldenstate\/2006\/01\/tax_policy_now_.html\" target=\"browser\">slagged<\/a> by Michael Hiltzik) about the insane instability built into California&#8217;s fiscal policies because of our overdependence on income taxes from a few high-earners.<\/p>\n<p>Well, California got some good fiscal news this month &#8211; collections are projected at $7.5B higher than budgeted &#8211; and <a href=\"http:\/\/www.dynamist.com\/weblog\/archives\/002145.html\" target=\"browser\">Virginia Postrel<\/a> links to a <a href=\"http:\/\/www.sfgate.com\/cgi-bin\/article.cgi?file=\/c\/a\/2006\/05\/09\/MNGSVIO7NG1.DTL\" target=\"browser\">SFGate article<\/a> by Kathleen Pender:<\/p>\n<blockquote><p><i>California took in a record $11.3 billion in personal income tax receipts in April, $4.3 billion more than it collected last April. It&#8217;s almost certain that a significant chunk of April&#8217;s haul came from Google employees &#8212; perhaps one-eighth or more of the tax receipt gain.<\/i><\/p><\/blockquote>\n<p>Pender continues:<\/p>\n<blockquote><p><i>California&#8217;s tax structure is highly progressive, which makes it highly volatile. For the 2004 tax year, 38,000 California tax returns reported more than $1 million in income. They represented just 0.2 percent of all state-tax returns, yet they accounted for 14 percent of total adjusted gross income and about 30 percent of the total personal tax.<\/p>\n<p>\nThe top 3 percent of the returns, those with incomes exceeding $200,000, paid about 60 percent of all state taxes. <\/i><\/p><\/blockquote>\n<p>That&#8217;s all fun and games when times are good&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google is paying California&#8217;s bills this year.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/1097"}],"collection":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1097"}],"version-history":[{"count":0,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/1097\/revisions"}],"wp:attachment":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}