Tribal gaming operations in California generated an estimated $8 billion in economic output in 2012 – $2.9 billion of which represented earnings by California workers – and supported over 56,000 jobs statewide. The 2012 operations had a roughly 7%-7.5% larger impact on California economic activity than in 2010.
It has become increasingly clear that economically, California is becoming increasingly divided between its prosperous coastal counties and its struggling inland counties. That split has made it important for the state’s leaders to recognize that policies that appear to make sense to those representing the state’s successful areas may be generating unintended negative consequences to the parts of the state outside of their frame of reference.
States’ unemployment insurance trust funds were battered by the Great Recession. Thanks to a spike in demand for jobless benefits, some went deep in debt to pay for help for the unemployed. Some still have billions left to repay.
The oil and gas industry makes a significant contribution to the Californian economy. Extraction, production, refining and petroleum products manufacturing result in highly tradable products both consumed domestically and exported, producing high revenues, high wage jobs and significant fiscal revenues for all levels of government. In this report, the Economic and Policy Analysis Group of the Los Angeles County Economic Development Corporation (LAEDC) conducts an industry contribution analysis of the oil and gas industry in California in 2012.
As the nation’s second largest city, Los Angeles has a vibrant culture, a diverse population and a strong economy. The city is not only the largest entertainment capital in the world, but also the nation’s largest manufacturing center and retail market, a major tourist destination and financial center, and home to one of the world’s busiest ports.
Contrary to the oft-repeated claim that high-income Californians pay an unfair amount of taxes, it is actually California’s low-income households who pay the largest share of their incomes in state and local taxes. Given widening income inequality over the last generation, and the ongoing economic challenges facing Californians in the aftermath of the Great Recession, policymakers could take specifi c steps to reduce the regressive nature of California’s system of state and local taxes and to promote economic security for low-income families.
A Time for Truth is a candid assessment of the challenges and opportunities Los Angeles faces. A Time for Action is the second and final report the LA 2020 Commission will publish. This report contains a series of concrete measures which, if adopted, will enhance transparency and accountability in City Hall, put Los Angeles on a path toward fiscal stability and renew job creation in the region.
For nearly two decades, the Tax Foundation has published an estimate of the combined state and local tax burden shouldered by the residents of each of the fifty states, regardless of the jurisdictions to which those taxes are paid. We argue that it is important to note that a taxpayer’s true tax burden must include the substantial taxes they pay directly or indirectly to out-of-state governments.
We explore a number of reasons for the declines in geographic and labor market transitions, and find the strongest support for explanations related to a decrease in the net benefit to changing employers. Our preferred interpretation is that the distribution of relevant outside offers has shifted in a way that has made labor market transitions, and thus geographic transitions, less desirable to workers.
For decades after World War II, California was a destination for Americans in search of a better life. In many people’s minds, it was the state with more jobs, more space, more sunlight, and more opportunity. They voted with their feet, and California grew spectacularly (its population increased by 137 percent between 1960 and 2010). However, this golden age of migration into the state is over. For the past two decades, California has been sending more people to other American states than it receives from them. Since 1990, the state has lost nearly 3.4 million residents through this migration.
The state of California will implement a strategy to expand international trade and foreign investment that will create jobs, increase revenues for California enterprises, and improve California’s international competitiveness; and which is also in concert with protecting the environment and promoting sustainable development.
This study presents detailed state-by-state estimates of the state and local taxes paid by businesses for FY2012. It is the 11th annual report prepared by EY in conjunction with the Council On State Taxation (COST).
To put the CT in context, we note that these tax payments represent a small portion of the overall tax burden borne by California businesses. According to a study of 2011-12 business taxes by the Council on State Taxation—a trade association of multistate corporations—corporate income taxes made up only about 10 percent of the entire amount of state and local taxes paid by California businesses. The two largest taxes paid by businesses—property taxes and sales taxes—were each much larger than the total amount of state corporate income taxes.
. . . Census data shows that in 2012, 7.1 percent of California’s overall state tax revenues came from corporate income taxes. . . . This is an above-average share of state tax revenues derived from corporate income taxes. Specifically, the average share among the 50 states was 5.1 percent of tax revenues.
California Ranks Fourth in Total Live Action Film Project, Job and Spending Counts.
States withdraw money from budget stabilization funds primarily to counter unexpected drops in revenue. Pew research has found, however, that most states do not consider revenue fluctuations in determining how and when to deposit money into their reserve funds. According to “Managing Uncertainty,” Pew’s report on strategies to smooth revenue volatility, only a dozen states, including Massachusetts, Texas, Virginia, and Utah, link deposits directly to unexpected surges in volatile tax streams. California could join this list of states if Gov. Brown’s proposal passes.