Communist California Sets Economic Growth Record. Budget SURPLUS hits $75 billion

DrHoops

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California added 1.3 million jobs, as much as Texas and New York combined. Household income in California increased as much as Florida, Texas, and Pennsylvania combined. Corporate credits in California rose more than corporate bonds in any other state. Cal's GDP growth was almost double Texas (21% to Texas' 12%).

California's growth vs. world economies trailed only trailed China since 2015. 29% in China vs. 22% in California. The U.S. grew at 18%, Japan 16%, and Germany grew 15%.

California is, by far the leader in manufacturing job creation. 40% more manufacturing job growth than in Texas. In 2020, $40.2 billion came from agriculture, forestry and hunting....more than the next five largest states (Iowa, Washington, Illinois, Texas and Nebraska) combined. California is the No. 1 US state for global trade. Growth in California's LA and Long Beach ports grew faster than any US state for the first time since 2012.

Small business growth: Of the more than 350 California companies included in the Russell 2000 (US small-caps) California's small caps grew 39% the past two years and 85% since 2016. That crushes the index by 34% and 67%. Small cap revenue growth was 56% since 2015 vs the index at 34%.

In 2020, 50% of US VC funding went to California. That's double the combined share of the next three states (New York, Massachusetts, and Texas). Of the ~750 VC rounds or IPOs greater than $1 billion, 494 have been in California. San Francisco alone has more than Texas and Florida combined. Tech companies in California grew 80% during 2020 in the middle of a recession.

Gee...I guess those nutty commies out west are doing something right.




https://www.bloomberg.com/opinion/articles/2021-06-14/california-defies-doom-with-no-1-u-s-economy

 

mcmurtry66

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California added 1.3 million jobs, as much as Texas and New York combined. Household income in California increased as much as Florida, Texas, and Pennsylvania combined. Corporate credits in California rose more than corporate bonds in any other state. Cal's GDP growth was almost double Texas (21% to Texas' 12%).

California's growth vs. world economies trailed only trailed China since 2015. 29% in China vs. 22% in California. The U.S. grew at 18%, Japan 16%, and Germany grew 15%.

California is, by far the leader in manufacturing job creation. 40% more manufacturing job growth than in Texas. In 2020, $40.2 billion came from agriculture, forestry and hunting....more than the next five largest states (Iowa, Washington, Illinois, Texas and Nebraska) combined. California is the No. 1 US state for global trade. Growth in California's LA and Long Beach ports grew faster than any US state for the first time since 2012.

Small business growth: Of the more than 350 California companies included in the Russell 2000 (US small-caps) California's small caps grew 39% the past two years and 85% since 2016. That crushes the index by 34% and 67%. Small cap revenue growth was 56% since 2015 vs the index at 34%.

In 2020, 50% of US VC funding went to California. That's double the combined share of the next three states (New York, Massachusetts, and Texas). Of the ~750 VC rounds or IPOs greater than $1 billion, 494 have been in California. San Francisco alone has more than Texas and Florida combined. Tech companies in California grew 80% during 2020 in the middle of a recession.

Gee...I guess those nutty commies out west are doing something right.




https://www.bloomberg.com/opinion/articles/2021-06-14/california-defies-doom-with-no-1-u-s-economy

Calif is uniquely unique and by far my favorite state, but I don’t know how people live there.

Calif’s median home is $813,000. It’s median household income is $75,000. Indiana’s median home is like $160,000 and median income is $58,000.

In the last decade 700,000 people have moved from calif to Texas. No state income taxes and I presume the American Dream of home ownership matters. Calif is now trying to grow it’s fractional ownership opps bc home ownership there has become so far out of reach.

I’ll be interested to see how this economic growth impacts population etc
 

hookyIU1990

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Spending a temp budget surplus, which the Economist article states is due to "a roaring stock market and federal stimulus", as if it's a long term situation is typical California. At 326B in debt (fiscal 2019), California has the most debt of any state.

Glad they had a good year.
 

DrHoops

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Calif is uniquely unique and by far my favorite state, but I don’t know how people live there.

Calif’s median home is $813,000. It’s median household income is $75,000. Indiana’s median home is like $160,000 and median income is $58,000.

In the last decade 700,000 people have moved from calif to Texas. No state income taxes and I presume the American Dream of home ownership matters. Calif is now trying to grow it’s fractional ownership opps bc home ownership there has become so far out of reach.

I’ll be interested to see how this economic growth impacts population etc
Funny thing is that 80% of Californians pay lower taxes than in Texas:

 

mcmurtry66

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Funny thing is that 80% of Californians pay lower taxes than in Texas:

Middle class tax savings on a median $75k income does nothing to offset the drastic difference in the costs of dirt. The joe rogan’s run for taxes the middle class land. For years fla too provided both. No state income and cheap dirt.

Calif is a dream spot but it’s just too damn expensive
 
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DrHoops

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Calif is uniquely unique and by far my favorite state, but I don’t know how people live there.

Calif’s median home is $813,000. It’s median household income is $75,000. Indiana’s median home is like $160,000 and median income is $58,000.

In the last decade 700,000 people have moved from calif to Texas. No state income taxes and I presume the American Dream of home ownership matters. Calif is now trying to grow it’s fractional ownership opps bc home ownership there has become so far out of reach.

I’ll be interested to see how this economic growth impacts population etc

Hmmm....well, first, middle class taxes are lower in California than in Texas.


Better economy, better weather, beautiful mountains, beaches, agriculture, wine country, and most importantly, jobs (see the op). It's a pretty damned great place for MOST people. Also,

rump canceled 150,000 visa applications in CA. That would have made up for most of their population loss last year.
 

mcmurtry66

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Hmmm....well, first, middle class taxes are lower in California than in Texas.


Better economy, better weather, beautiful mountains, beaches, agriculture, wine country, and most importantly, jobs (see the op). It's a pretty damned great place for MOST people. Also,

rump canceled 150,000 visa applications in CA. That would have made up for most of their population loss last year.
And the median household income is 75k and median house is $813k. Is this lost on you. 700,000 people left calif for tx despite all those reasons. Why? Bc the avg household income is 75k and the avg house is $813,000. The price of dirt matters. Fing hell I feel like the mayor of Chicago and you’re one of my thick-headed staffers
 

hookyIU1990

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rump canceled 150,000 visa applications in CA. That would have made up for most of their population loss last year.
Is that how that works? I thought it was census based numbers looking backwards and didn't include non US citizens who were projected to come.
 
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DrHoops

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Middle class tax savings on a median $75k income does nothing to offset the drastic difference in the costs of dirt. The joe rogan’s run for taxes the middle class land. For years fla too provided both. No state income and cheap dirt.

Calif is a dream spot but it’s just too damn expensive
Joe Rogan isn't middle class, but if you own a home in CA you're gaining value with the investment in your home, right?

blog_ca_taxes.jpg


blog_tx_taxes.jpg


 

DrHoops

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Is that how that works? I thought it was census based numbers looking backwards and didn't include non US citizens who were projected to come.
In the link:

"Much has been made of the state reporting its first yearly loss in population, or 182,000 last year. Had it not been for the Trump administration preventing new visas, depriving as many as 150,000 people from moving to California from other countries annually, the 2020 outcome would have been more favorable."
 

mcmurtry66

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In the link:

"Much has been made of the state reporting its first yearly loss in population, or 182,000 last year. Had it not been for the Trump administration preventing new visas, depriving as many as 150,000 people from moving to California from other countries annually, the 2020 outcome would have been more favorable."
Internationals with money is where calif’s population maintenance comes. Americans are leaving calif
 

hookyIU1990

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In the link:

"Much has been made of the state reporting its first yearly loss in population, or 182,000 last year. Had it not been for the Trump administration preventing new visas, depriving as many as 150,000 people from moving to California from other countries annually, the 2020 outcome would have been more favorable."
Also in the link:
California has been steadily losing people to other states for years. From 2010 to 2020, about 6.1 million people left for other states and only 4.9 million arrived from other parts of the country, according to an analysis of census data by the Public Policy Institute of California.

But the influx of international immigrants and births outpacing deaths have always been enough to overcome that loss. That changed in 2020.
 

DrHoops

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Also in the link:
California has been steadily losing people to other states for years. From 2010 to 2020, about 6.1 million people left for other states and only 4.9 million arrived from other parts of the country, according to an analysis of census data by the Public Policy Institute of California.

But the influx of international immigrants and births outpacing deaths have always been enough to overcome that loss. That changed in 2020.
So what?
 

mcmurtry66

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Also in the link:
California has been steadily losing people to other states for years. From 2010 to 2020, about 6.1 million people left for other states and only 4.9 million arrived from other parts of the country, according to an analysis of census data by the Public Policy Institute of California.

But the influx of international immigrants and births outpacing deaths have always been enough to overcome that loss. That changed in 2020.
Exactly. And here re home ownership.

 

DrHoops

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DrHoops

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Lol so what. Price millions of Americans out but as long as rich internationals fill the void so what. How very democratic of you. Not unlike crime doesn’t impact my neighborhood so so what. Your politics are illusory
Links?
 

DrHoops

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Also in the link:
California has been steadily losing people to other states for years. From 2010 to 2020, about 6.1 million people left for other states and only 4.9 million arrived from other parts of the country, according to an analysis of census data by the Public Policy Institute of California.

But the influx of international immigrants and births outpacing deaths have always been enough to overcome that loss. That changed in 2020.
So what?
 

mcmurtry66

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And? What does this have to do with the myth that people are fleeing California because the taxes are too high and that is killing California's economy.

Clearly it's not. In fact, it's just the opposite.
Good lord. More than one thing can occur. Wealthy people like musk and Rogan and others can leave for taxes. YET middle class people could leave over home prices. Two things can actually occur.
 
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DrHoops

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Good lord. More than one thing can occur. Wealthy people like musk and Rogan and others can leave for taxes. YET middle class people could leave over home prices. Two things can actually occur.
But that's not really happening. Less people are moving than from 1990 to 2006.

"For many years, more people have been leaving California for other states than have been moving here. According to data from the American Community Survey, from 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population. These population losses are low in historical terms. The graph below shows data from the Internal Revenue Service on the movement of income tax filers in and out of California since 1990. (Data on tax filers does not cover the entire population because some people do not earn enough income to necessitate filing taxes.) As the graph shows, net out-migration from 1990 to 2006 was, on average, more than double what is was in the most recent ten years."

957
 
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DrHoops

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Somebody on a visa goes to where the job tied to the visa is and they can't leave. People that can leave have been leaving for the last decade.
Well, that's where manufacturing and agricultural job growth comes in...which I covered in the OP. California is only trailing China. They have grown their manufacturing sector more than Florida, Texas, and Pennsylvania combined.
 

mcmurtry66

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Well, that's where manufacturing and agricultural job growth comes in...which I covered in the OP. California is only trailing China. They have grown their manufacturing sector more than Florida, Texas, and Pennsylvania combined.
Well, that's where manufacturing and agricultural job growth comes in...which I covered in the OP. California is only trailing China. They have grown their manufacturing sector more than Florida, Texas, and Pennsylvania combined.
Fla lmao. Fla isn’t a manufacturing state.
 
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mcmurtry66

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But that's not really happening. Less people are moving than from 1990 to 2006.

"For many years, more people have been leaving California for other states than have been moving here. According to data from the American Community Survey, from 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population. These population losses are low in historical terms. The graph below shows data from the Internal Revenue Service on the movement of income tax filers in and out of California since 1990. (Data on tax filers does not cover the entire population because some people do not earn enough income to necessitate filing taxes.) As the graph shows, net out-migration from 1990 to 2006 was, on average, more than double what is was in the most recent ten years."

957
There are over two trillion articles re califs leaving over home prices

 
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mcmurtry66

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But that's not really happening. Less people are moving than from 1990 to 2006.

"For many years, more people have been leaving California for other states than have been moving here. According to data from the American Community Survey, from 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population. These population losses are low in historical terms. The graph below shows data from the Internal Revenue Service on the movement of income tax filers in and out of California since 1990. (Data on tax filers does not cover the entire population because some people do not earn enough income to necessitate filing taxes.) As the graph shows, net out-migration from 1990 to 2006 was, on average, more than double what is was in the most recent ten years."

957
 

mcmurtry66

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Going with your gut again?

Actually, Florida is the 7th biggest manufacturing state in the US.

But that's not really happening. Less people are moving than from 1990 to 2006.

"For many years, more people have been leaving California for other states than have been moving here. According to data from the American Community Survey, from 2007 to 2016, about 5 million people moved to California from other states, while about 6 million left California. On net, the state lost 1 million residents to domestic migration—about 2.5 percent of its total population. These population losses are low in historical terms. The graph below shows data from the Internal Revenue Service on the movement of income tax filers in and out of California since 1990. (Data on tax filers does not cover the entire population because some people do not earn enough income to necessitate filing taxes.) As the graph shows, net out-migration from 1990 to 2006 was, on average, more than double what is was in the most recent ten years."

957
 

mcmurtry66

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You said people are leaving in droves, then you link an article that says California's population dropped for the first time in 2020. Huh?

Right. People are leaving in droves and people (internationals) can still come. In the article states why people are leaving. A prior showed 700000 have left for tx in just a decade
 
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mcmurtry66

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Well, then what's wrong with Florida? They are the 7th biggest manufacturing state in the US. You're saying they're failing now?
Obviously very little. That’s why so many are moving there. Duh. Cheap dirt and low taxes. Cheap dirt and low taxes. Cheap dirt and low taxes.
 
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DrHoops

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Obviously very little. That’s why so many are moving there. Duh. Cheap dirt and low taxes. Cheap dirt and low taxes. Cheap dirt and low taxes.
7th in the nation? Whah? They're just behind Indiana. Not many cheaper places for dirt than Indiana.
 

DrHoops

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okay let's make this simple

can we agree NY's and Calif's population growth the last ten years isn't as large as Tex's and FL's population growth?
What does that have to do with my original post? Why are you so hung up on it?
 

mcmurtry66

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What does that have to do with my original post? Why are you so hung up on it?
bc those figures are illusory to the quality of life of most people when the difference between median home prices and income is so pronounced. then you wanted to compare states and population movements. we can do that very simply but you don't want to now i guess.

the truth of the matter is ny and calif are losing population to tx and fla because tx and fla offer no state income tax and cheap land. and unless and until ny and calif sort those issues it will continue to be the case and tx and fla will continue to gain greater representation.

i'm glad the economy in calif is growing. it's by far my favorite state. that doesn't negate what i wrote.
 
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