General Category > Economy/Business

Jerry Brown Creates California Surplus Miracle, But Can It Last?

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Rapunzel:

Atomic Cow:
Probably all slight of hand and some funny number work.

Rapunzel:

--- Quote from: Atomic Cow on January 19, 2013, 01:24:31 AM ---Probably all slight of hand and some funny number work.

--- End quote ---

of course it is...........

Oceander:
We shall see.  So far, nary a prog/lib has ever been able to legitimately balance a budget.  And counting just one or two years' worth of revenues as being evidence of a pattern is simply poppycock.  Individuals cannot change most of their spending or investment decisions on a dime - so when new taxes are imposed they frequently raise new revenue immediately - but once individuals have the time needed to change their behaviour to account for the new costs - and taxes are merely another cost from the economic point of view - they will adjust their behaviour to minimize the new costs, and once individuals have adjusted their behaviour, the revenues from those new taxes will drop, and the initial revenue estimates will be revealed as false.  At least, their falsity would be evident to anyone who understands how economic actors behave; progs/libs, unfortunately, do not understand how economic actors behave.

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