So it came out this week that California legislative folks and the governor (Newsom) agreed to a $17 billion package that is geared in some way for inflation relief. Of this, $9.5 billion goes to the public.
Now before you get excited....if you were a Californian....it's ranked. Minimum you get (early 2023) is $200....most is $1,050.
How can they swing this? Well....they are number nine in the nation on taxes....roughly 9.7-percent of what you make....goes to the state.
Inflation affecting everyone? Yes, but the money is ranked. So if you made up to $75k a year in salary....you'd get $350 per tax-paying couple...then $350 for each kid....capping at $1,050.
Next level up, you get $250 in this scenario....capping as well.
Does the $1,050 potentially change your life? NO.
That's really the crappy part of this story. If you follow inflation in California....just in fuel prices....you probably are paying around $1,000 extra per year, if you own two cars. Count up your energy bill, groceries, and oddball things....it is probably over $3k in extra cost.
I'm not condemning the offer....but it's because of the hefty tax...that they have some money to throw around.
Trying to suggest it's some great relief? Well...it's like baking a cake for your neighbor, but having no icing on it...as you present it.
1 comment:
That would be the equivalent of robbing the cake ingredients from your neighbor -- nice fresh and wholesome -- then swinging by the next year with a cake made from those ingredients after they go rancid and are infested with maggots.
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