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California has a projected $1.6B deficit this coming year due to accounting errors

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Got

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tearsintherain said:
Its NOT an action/spy type of movie, its more a weird kind of "here's how a high functioning autist would work as James Bond". I found it pretty boring but it was interesting to watch Ben Affleck.

There are however a number of action sequences but they are not done very well so it makes it even stranger.
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sounds... different.

Forerunner said:
raw




It was a decent action flick. Actually it's more of a crime/drama.
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I may give it a shot then. looked like a low rent Fincher flick.
 
I

iavi

Member
Alcoremortis said:
There's a problem with weed money in that since, even legalized, I don't think that big banks are permitted to let weed sellers open accounts, reducing the growth that money from weed could give to the economy. And since weed can only be bought with cash (since no business bank accounts), it makes it easier for those sellers to pay less in taxes than they owe.

http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2016/03/22/why-marijuana-businesses-still-cant-get-bank-accounts
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Reducing the amount of revenue, but even with that Colorado has insane revenue iirc.
 
N

Nafai1123

Banned
Alcoremortis said:
There's a problem with weed money in that since, even legalized, I don't think that big banks are permitted to let weed sellers open accounts, reducing the growth that money from weed could give to the economy. And since weed can only be bought with cash (since no business bank accounts), it makes it easier for those sellers to pay less in taxes than they owe.

http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2016/03/22/why-marijuana-businesses-still-cant-get-bank-accounts
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Oh no doubt about that, but the systems in place are getting better in places like CO. Ultimately it depends a lot on the rules/regulations put in place, which are state dependent.

Marijuana being a cash business will absolutely decrease the amount of tax revenue, but it's still going to bring in a fuck ton of money.
 
R

ReAxion

Member
the taxes on retail marijuana goes to specific purposes. the fee to be a licensed seller, however, doesn't appear to from the prop outline.
 
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OrangeGrayBlue

Member
Spanx McFranks said:
Everything in California is such a shit show. I am confused why people want to live there.
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As someone who grew up in West Virginia, recently spent 2 weeks in Alabama and lives in California, I would take CA every time and it is not even close. CA has culture, diversity, great weather (current storms notwithstanding), beautiful people in abundance, literally more food options than you could ever fully expend, beaches, mountains, etc.


Also, is it just me or is a 1.6b deficit pretty small for a state the size of CA? I mean the accounting error is embarrassing regardless, but $1.6b doesn't seem like much of a burden for a state with like 40 million people in it.
 
Pagusas

Pagusas

Elden Member
Spanx McFranks said:
Everything in California is such a shit show. I am confused why people want to live there.
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1. Its beautiful
2. It has nearly every enviroment type for whatever your prefered setting is (ocean front, forest, mountains, desert)
3. It has some amazing cities (I'm in love with San Diego)
4. Its one of the most tolerant states for all types of people
5. Its a major job market with some of the best jobs in the world (if you are skilled).
 
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cpp_is_king

Member
Of course it's fucking Medi-Cal. Wonder how bad they've "accidentally" been screwing up the accounting on the bullet train proposal.
 
S

studyguy

Member
OrangeGrayBlue said:
As someone who grew up in West Virginia, recently spent 2 weeks in Alabama and lives in California, I would take CA every time and it is not even close. CA has culture, diversity, great weather (current storms notwithstanding), beautiful people in abundance, literally more food options than you could ever fully expend, beaches, mountains, etc.


Also, is it just me or is a 1.6b deficit pretty small for a state the size of CA? I mean the accounting error is embarrassing regardless, but $1.6b doesn't seem like much of a burden for a state with like 45 million people in it.
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LA is having a construction boom right now, it's raining so agriculture is actually expecting a hell of a harvest this year, all things considered we're probably okay even with the deficit.

My main concern is what happens with federal subsidies under the coming administration. We're expected to defy the federal government on sanctuary cities to start off and likely more issues to come in the future. I don't know enough, but I'm not sure how much the federal government under Trump might try and leverage subsidies against CA to push them to adopt whatever they're trying to shove down our throats.
 
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OrangeGrayBlue

Member
studyguy said:
LA is having a construction boom right now, it's raining so agriculture is actually expecting a hell of a harvest this year, all things considered we're probably okay even with the deficit.
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Yeah, I live in LA and the construction over the past 18-24 months has been crazy. LA has also gotten serious about public transportation. I think we have more public transit projects in the works than any other US city right now. More and more people have become comfortable living here without cars, self included.
 
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Cels

Member
cpp_is_king said:
Not sure if sarcastic, but when a state can't keep track of its own money, the last thing I want to do is give them more of it.
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exactly. it's also funny jerry brown initially supported the temporary tax hike the first time around and pretended to be neutral on extending it in this past election. well, gov brown, you managed to turn a surplus into a deficit, guess you lucked out there that the tax hike was extended. now please don't just throw the money away...
 
HoodWinked

HoodWinked

Member
California is really interesting, if i had to compare it to something it would be a procrastinating genius college student. it will put itself into really bad situations but just as things get really bad it somehow figures out a way to get out of it, gold rush, agricultural drought, oil boom, real estate bubble, tech boom, silicon valley, hollywood.

weed maybe renewal energies may be the next industries that will pull them out of its debt.
 
I

Iceman

Member
So whose neck(s) is on the line? Michael Cohen (Finance Dept)? Jennifer Kent* (DHCS - in charge of Medi-Cal spending)? Is the Treasurer/Treasury Dept off the hook?

I mean, I got nervous when potentially blowing $1000 dollar deals in my 9-to-5. This is Billions.
 
C

Chumly

Member
therealist said:
Terrible. So much for more liberal states leading to better budget management
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My conservative state (Nebraska) has a billion dollar deficit and it has a hell of a lot less people. Honestly a 1.6 billion dollar deficit wouldn't even make me blink for a state like California
 
E

ezrarh

Member
If the federal government proportionately returned people's income taxes back to the states, California would be fine. Although that doesn't mean the state can't improve on a lot of things.
 
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louiedog

Member
OrangeGrayBlue said:
As someone who grew up in West Virginia, recently spent 2 weeks in Alabama and lives in California, I would take CA every time and it is not even close. CA has culture, diversity, great weather (current storms notwithstanding), beautiful people in abundance, literally more food options than you could ever fully expend, beaches, mountains, etc.


Also, is it just me or is a 1.6b deficit pretty small for a state the size of CA? I mean the accounting error is embarrassing regardless, but $1.6b doesn't seem like much of a burden for a state with like 40 million people in it.
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Yeah. I've lived on both coasts and in the middle of the country. Cities, suburbs, and rural. I don't want to live anywhere else. It's a really nice place to live for those reasons you mentioned and I wouldn't exchange any of it for the ability to afford a bigger house for the trade off of having fewer reasons to leave it.

And you're right. California has a bigger economy than most countries.
 
U

UltraMav

Member
Black_Sun said:
Great weather, great looking people, tolerant society, Hollywood, beautiful environments and percentagewise we have less crazy idiots than most other states.
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This is hugely frustrating to read as a Central Valley resident. It's like, a perfect opposite description of how life is here. We truly are Bizarro California.
 
L

Lambtron

Unconfirmed Member
Spanx McFranks said:
Everything in California is such a shit show. I am confused why people want to live there.
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The weather and the ocean are beautiful, the food is amazing, the people are attractive, weed is legal, they're tolerant, the state will actually put up resistance against the Spraytan Strongman...
 
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