Why December's ugly stock market is very bad news for California's finances

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California could see its tax collections take a hit in December because of its heavy reliance on the wealthy for personal income taxes and the state's revenue volatility to even small changes in the financial markets.

 

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It's simple. CA doesn't know how to budget and then it penalizes producers. That's why capital flight is on the move to other, more business-friendly environments.

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