Thursday, August 11, 2016
Looking for something to worry about?
Of course, one month does not a year make, particularly in regards to our highly seasonal tax base. But all of the big three taxes came in below forecast values: income, sales, and corporate. Sales taxes were 23.5% below projections and of the three key taxes, sales reflect consumption of the masses. In contrast, income taxes (which were below projections by 6.9%) reflect upper income folks.
Anyway, enjoy your summer. And if you want to worry, the controller's data are at http://sco.ca.gov/Files-ARD/CASH/01_July_2016.pdf.pdf. And if not: