Math is hard for Arnold and the California democrats, income tax revenues fall short by $2.5 BILLION

Democrats, and the closet democrat Arnold Schwarzenegger simply aren’t very good at math (or governing a state either). Sales tax went up 1% in April, which also happens to be California’s largest tax-collection month, yet tax-collection has fallen short of expected revenue by more than $1.8 billion in personal and corporate income taxes. California’s tax receipts so far are about $2.5 billion behind projections for the current fiscal year and forecasts are for  a revenue shortfall of $8 billion next year. Also, if voters reject Proposition 1C (borrowing against future state lottery sales) along with 1D and 1E (shifting taxes for children and mental health programs to other uses), the state would be short another $6 billion. Now thats how you run a state Democrats!


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May 4, 2009 · Filed Under Taxes

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