OT-Of interest to those in California

Mr Gunner
I hate to tell all those Liberals out there that Arnold has already reduced the California Deficit by over 500 million and he has not even taken office yet.
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.
Pretty good huh!!
Go Arnold!!
The Independent
Gunner 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
Reply to
Jim Dauven
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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:
Reply to
Jim Dauven
***************************************
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
Reply to
Gunner
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 Independent
Howard R Garner wrote:
Reply to
Jim Dauven
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
*
**************************************************
Reply to
Kevin Carney
I bet a *lot* of us in all states could get behind this!
Aaron
Reply to
Aaron Davis
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
Reply to
Jeff McCann
: 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
Reply to
richard
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!
Reply to
Alan Erskine
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.
Reply to
John R. Carroll
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.
Reply to
Howard R Garner
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.
Reply to
John R. Carroll
"Gunner" wrote
That small, huh?
Dan
Reply to
Dan
The complaint about Bill wasn't that he was small, but that he was crooked.
-- Robert Sturgeon
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Proud member of the vast right wing conspiracy and the evil gun culture.
Reply to
Robert Sturgeon
I would be happy to circulate the petition for that proposition.
Reply to
Roger Shoaf
I'll happily help with that. And on the federal level....Can anyone see such a thing *not* passing?
michael
Reply to
michael

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