| He presented his new budget today (no new taxes) with some cut backs that might help pay for the new projects.
He is going to cut the welfare budget such that people who have been on welfare for five years or more and never got a job during that timeframe, will be cut off from getting aid (for their self and their dependant children).
He has cut shorter the budget used for city parks.
He wants to pay for the new projects with bonds. Meaning that he expects new people to come to California and more jobs will open up here, and so the future will pay for what they get, only we must start now to make it ready for them (and the new business openings) with a bond issue, which must be voter approved. The bond allows the state to use new tax incomes which later to pay for what we do today when we have more people here and more jobs that provide more income to more people who would pay more state taxes then what we now get from workers for todays budget.
Confused?
Population growth will provide the state with more tax resources in the future to pay for todays projects which will take time to construct for that expected growth in population levels. A bond "loans" money from a bank and pays the bank back with interest later on when the state economy is larger.
Your kids will be happy to know that,.... but hey, traffic jams or high medical costs would be just as bad.
This way they create no new taxes because more people would mean more taxes being collected for state useage. On the lay away plan. Undocumented workers also pay state taxes which are automatically deducted from their paychecks.
Hobla? |