A friend provided the following analysis:
California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
Population of California = 36M
Percentage below 18 = 26%
Percentage above 65 = 11%
(Source: Census Quickfacts.)
There are 22 million productive adults which means they need roughly $1,000 per head in taxes!
To fund those taxes, the productive capacity of those 22 million adults has to be much much higher. And most of them couldn't even write you a $100 check tomorrow morning!
How do you say `fucked' in Californese?
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