Californians hard hit since Wall Street crashed the economy in 2008 - Californians hard hit since Wall Street crashed the economy in 2008

Californians hard hit since Wall Street crashed the economy in 2008

Californians have suffered from brutal budget cuts since 2008

The financial crisis of 2008 saw Californians taking a hard-brutal knock as literally billions of dollars’ worth of budgets cuts slashed through the healthcare, educational and various other essential programs causing strain on the states working class and students.

 

The $5 billion dollars that could refund California

There have been divided opinions and reactions to the “rainy day fund” proposed by Governor Brown, now in his 16th and final year as Governor.  This new fund proposal of Governor Browns, while could be good for a lot of things it puts extra strain on the poorer working class, children and seniors who would have to sacrifice more of the average earnings in order to fill this fund.

While some watch the as economic growth slowly increases and the increased taxes for the wealthier Californians start to make a difference the fact remains that California still has the highest poverty rate in the country.  A lot of work still has to be done in order to bring about a balance as the Governor’s budget still leaves a majority of Californians struggling to make ends meet each month.

More has to be done and although the state offices like you to believe otherwise there are still a lot of loopholes and benefits for the wealthy that if changed could bring about more revenue for the economy to help reverse the effects of these brutal and damaging budget cuts that have ripped through California since 2008.

Californians have long been pushing for Californian Oil industries to start being taxed as California remains the only oil-producing state that does not tax oil.  The tax-oil activists have been pushing for this to be changed for years as the billions of dollars each year that could be put towards education and healthcare initiatives are thought to land in the pockets of the greedy oil corporations instead.

As the threat of climate change starts to become more and more of a dark cloud over the planet Californians are wanting their oil to remain where mother nature intended it to be – in the ground and the fight to stop fracking and the damage it is causing by trying to get oil drilling blocked on every front.  Which causes more anger over the fact that these oil companies are still permitted to drill for oil and yet are not taxed for it even though it is a highly profitable market.

Conclusion

As California slowly recovers from the recession, which has been a long and tedious journey, they are calling on legislators to come up with a decent budget that supports and reverses a lot of the damaging effects to the various essential, healthcare and educational programs for the state.
The new budget proposal for California can be seen at this link: http://www.ebudget.ca.gov/budget/2018-19/#/Home

 

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