OT-Of interest to those in California

All I know is the treasure of the state of california announced that the california capital gains tax revenues are up an unanticipated

500 million dollars. That makes since as people sell off investments they purchased when the market was down to repositon them selves to a more favorable position in the rising market.

Also the treasure of the state of california has recomputed the expected capital gains taxes based on results of the second and third quarter and that ammounted to a 1 billion dollar increase.

Go Arnold!!!! (;-)

The Independent

richard wrote:

*************************************** Arnold's "Neutron Bomb" The aftershocks of the political earthquake in California this week are still being felt. Unbelievably, Democrats are contending that losing the governorship of California to a hugely popular Republican is actually a big LOSS for President Bush. What a joke. But the threat that Arnold Schwarzenegger might have his agenda bottled up by Democrats in the state legislature is no laughing matter and a very real concern. However, the Governator isn't without weapons in such a fight. Should uncooperative Democrats in the House and Senate refuse to work with Gov. Schwarzenegger in a bipartisan fashion, Arnold could borrow a tactic from Ronald Reagan by taking his case directly to the people and having voters pressure the recalcitrant legislators to get with the program. And if that doesn't work, he could actively campaign against those legislators in next year's elections, hoping to get a more friendly group to deal with. Or he could drop what one DC insider describes as the "Neutron Bomb." Under this scenario, Schwarzenegger would place on the ballot an initiative which would make the legislature a part-time job and cut legislators' pay by 2/3. Any bets on how Californians would vote on such an initiative? Two last thoughts on the political ramifications of this election: (1) Arnold Schwarzenegger has the potential to be a Republican fundraising machine equal to anything Bill Clinton ever was or is for the D's, and (2) the most terrified Democrat in the Golden State today is Sen. Barbara Boxer who suddenly must face re-election next year with the Terminator instead of Gray Davis sitting in the governor's chair. Can you say, "Hasta la vista, baby"? Published by Citizen Outreach Chuck Muth Editor/Publisher 611 Pennsylvania Avenue, SE, #439 Washington, DC 20003-4303 E-mail: snipped-for-privacy@earthlink.net

"You cannot invade the mainland United States. There would be a rifle behind each blade of grass." --Japanese Admiral Isoroku Yamamoto

Hey I'm not an accountant or a book keeper I only passed on what the bean counters in Sacramento said. (Since when have politicains ever told the truth???)

The >

Last wednesday, the local paper didn't print Arnold's victory on the front page, it was on page 4. The front page was reserved for how Gov. Pataki (republican) has flopped on the states gambling inititative. That is why I don't buy the liberal rag. Truth in Media, Huh !!!!

-- change .combo to .com for correct email

*************************************************** "We ought always to know precisely why a given job is done in a particular way, and why it is done at all, and why it can't be done more efficiently, if it must be done at all."-- T.J.Watson

***************************************************

I bet a *lot* of us in all states could get behind this!

Aaron

Gains always "demonstrate the success of my economic policies" and losses are always "a consequence of the failed policies of the prior administration." The Politician's Handbook, p.137. ;-)

Jeff

In rec.crafts.metalworking Jim Dauven wrote: : Mr Gunner : Because of the run up of the stock market since mid summer the capital : gains taxes are up an unexpended 500 million and may be more than : 1 billion by the end of the year.

A rising stock market can't hurt but who extrapolated the .5 - 1.0 billion increase in tax receipts? Capital gains aren't taxed until a stock is sold. Furthermore, we're still way, way down from the highs of 2000 which means that many holders are underwater and have no gain. To the extent these holders use the rally to bail out of the dogs they bought in 2000, 2001, & 2002 they'll be realizing capital LOSSES.

rs

It'll be a loss for Bush when "Big Arnie" starts screwing up like GWB.

-- Alan Erskine alanerskine(at)optusnet.com.au

The U.S. Government is in the peculiar position of toppling foreign governments in the name of democracy.

Oh, how democractic!

Jim, You should have stopped at this point and taken a moment to educate yourself. Capital gains receipts are up because corporate officers are being compelled to declare their options awards TODAY as income rather than deferring this until the options are exercised. At least this is the effect when stock options that are part of a compensation package are being reported and booked in the current period as opposed to declared as they are exercised. Shareholders have seen their equity erode with every restatement of prior years earnings and if the directors want to keep their jobs, they need to keep the shareholders happy. The market, BTW is responding favorably.

I don't recall this as part of the change. The corporation now has to book the options as a expense when the options are issued. Until the options is exercised and the shares sold there is no capital gain to be reported as income, and thus taxes to the state.

Please enlighten me if I am wrong.

Your statement is somewhat correct, however, the gain on existing packages becomes due and payable when the transaction is booked as it is restated at its current value. The recipient has effectively realized a gain resulting from the difference between original excercise price and the value of the option at the current strike price. Pretty crappy when you consider that the gain incurred is all paper and not money.

"Gunner" wrote

That small, huh?

Dan

The complaint about Bill wasn't that he was small, but that he was crooked.

-- Robert Sturgeon

Proud member of the vast right wing conspiracy and the evil gun culture.

I would be happy to circulate the petition for that proposition.

I'll happily help with that. And on the federal level....Can anyone see such a thing *not* passing?

michael