Liberal Forum

Newsom can't pay his bills.
California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay

And the reparations haven’t even kicked in lol

It's hiding behind a paywall

golfboy » 08 May 2023, 7:02 pm » wrote: ↑

08 May 2023, 7:02 pm

Newsom can't pay his bills.
California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay

Newsom is a default guy no matter what. He's a lying loser.  

golfboy » 08 May 2023, 7:02 pm » wrote: ↑

08 May 2023, 7:02 pm

Newsom can't pay his bills.
California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay

 
 

righteous » 08 May 2023, 8:22 pm » wrote: ↑

08 May 2023, 8:22 pm

Good one!

 

golfboy » 08 May 2023, 7:02 pm » wrote: ↑

08 May 2023, 7:02 pm

Newsom can't pay his bills.
California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay

California Businesses will be taxed more to repay the Federal Government.  With a default in repaying the federal unemployment insurance loan, the federal government raises the unemployment insurance tax immediately by 0.3 percent on each business within California.  This is an additional 0.3 percent each year after that until the loan is fully repaid. The normal federal unemployment insurance tax rate is 0.6 percent per year, which means that California businesses will be paying several multiples of the normal federal tax rate before the loan is retired.

No wonder why businesses are packing up and leaving California.  How in the world could a piss-poor state like that attract any new businesses.

• Hollywood California will be moving to Hollywood Florida
• Palo Alto tech companies will be moving to Atlanta Ga.
• San Francisco *** Bars will be moving to Tijuana.
• All other businesses in CA will be relocating to Texas and North Carolina

golfboy » 08 May 2023, 7:02 pm » wrote: ↑

08 May 2023, 7:02 pm

Newsom can't pay his bills.
California Defaults on $18.6 Billion Debt, Now Businesses Have to Pay

They didn't default.  They just refused to pay a debt that was owed by businesses and employers:

https://www.zerohedge.com/political/cal ... rs-expense

In the state's proposed 2023-2024 budget, $750 million was allocated to start paying down the loans, until Governor Gavin Newsom nixed the provision in early January, leaving businesses in the state responsible for the loans, as mandated by federal regulations - so that the federal unemployment tax rate of .6 percent will increase by .3% per year starting in 2023 until the loan is extinguished.

BuckNaked » 08 May 2023, 7:04 pm » wrote: ↑

08 May 2023, 7:04 pm

And the reparations haven’t even kicked in lol

  truthat...

roadkill » 08 May 2023, 7:28 pm » wrote: ↑

08 May 2023, 7:28 pm

Newsom is a default guy no matter what. He's a lying loser.

he's such a smug ****...riding lugosi's coattails... I hate that incessant prick...

RedheadedStranger » 08 May 2023, 7:47 pm » wrote: ↑

08 May 2023, 7:47 pm

 

ROG62 » 09 May 2023, 8:12 am » wrote: ↑

09 May 2023, 8:12 am

he's such a smug ****...riding lugosi's coattails... I hate that incessant prick...

Newsom is a rat expecting others to conform while he breaks his own rules.
 

The story below...

California borrowed approximately $20 billion from the federal government to cover unemployment benefits during the pandemic, and with Gov. Gavin Newsom’s recent decision to not pay it back, employers are now saddled with the expense, according to experts.

“The state should have taken care of the loans with the COVID money it received from the government in 2021,” Marc Joffe, policy analyst at the Cato Institute—a public policy think tank headquartered in Washington, D.C.

In the proposed 2023–2024 budget, $750 million was allocated to start paying down the loans, but Newsom made changes to the plan in January and withdrew the funding.

The Epoch Times’ request for comment from Newsom’s office was not returned on deadline.

The decision leaves businesses in the state responsible for the loans—as mandated by federal regulations—so the federal unemployment tax rate of .6 percent is set to increase by .3 percent annually, starting in 2023, until the loan is extinguished.

“California is just not really an employer-friendly state,” Joffe said. “This one thing will not be a difference between a business remaining open or closing, but it’s just another burden on top of the many burdens the state puts on employers.”
 

OdeToJoy » 09 May 2023, 8:00 am » wrote: ↑

09 May 2023, 8:00 am

They didn't default. 

 

No.  California absolutely and undeniably did default on its debt.

They just refused to pay a debt that was owed by businesses and employers:

No.  The debt is owed by California to the Federal Government.  The law provides that if California defaults in paying that debt, the Federal Government will assess all California Businesses an amount to re-pay California's debt.Another Liberal, Progressive Liar Exposed!!!

Hard to believe that these two were married 

a true WTF?

 [img]blob:a69f20b0-b264-466d-9157-1fd84b3a9a8b[/img]
https://people.com/thmb/pF0upgnBF04VTj5 ... f3a4a1.jpg
 
 

Hollywood California will be moving to Hollywood Florida
Palo Alto tech companies will be moving to Atlanta Ga.
San Francisco *** Bars will be moving to Tijuana.
All other businesses in CA will be relocating to Texas and North Carolina


NONE of this will happen.

Xavier_Onassis » 09 May 2023, 12:35 pm » wrote: ↑

09 May 2023, 12:35 pm

Hollywood California will be moving to Hollywood Florida
Palo Alto tech companies will be moving to Atlanta Ga.
San Francisco *** Bars will be moving to Tijuana.
All other businesses in CA will be relocating to Texas and North Carolina

NONE of this will happen.

It's ALREADY HAPPENING *** BOY!!

The rate of California businesses leaving the state more than doubled in 2021, leading a new analysis to posit that the state may be “risking its economic future.” There were 153 companies that relocated headquarters in 2021, more than double the 75 that left in 2020 and more than triple the 46 that exited in 2018,


according to a recent report from the Hoover Institution at Stanford University. The conservative think tank said economics was the primary cause of relocation, citing other states’ lower regulation, lower taxes, and lower cost of living. 

 Eleven Fortune 1000 companies were among those that exited California in the past three years. McKesson, the biggest U.S. drug distributor and number nine on Fortune’s list, left the state in 2018 for Texas. The Lone Star State is the most popular for relocations — Tesla, Oracle, Hewlett Packard Enterprise and Charles Schwab all left for Texas in the past three years. 

https://www.sfgate.com/local/article/Ca ... 553168.php

Now you want to APOLOGIZE FOR LYING LIKE A EFFING PEDOPHILE??

 

OdeToJoy » 09 May 2023, 8:00 am » wrote: ↑

09 May 2023, 8:00 am

They didn't default.  They just refused to pay a debt that was owed by businesses and employers:

https://www.zerohedge.com/political/cal ... rs-expense

In the state's proposed 2023-2024 budget, $750 million was allocated to start paying down the loans, until Governor Gavin Newsom nixed the provision in early January, leaving businesses in the state responsible for the loans, as mandated by federal regulations - so that the federal unemployment tax rate of .6 percent will increase by .3% per year starting in 2023 until the loan is extinguished.

The State took that money and spent it. 
They defaulted on the loan, and businesses in the state will have to pay it. 

This is typical liberalism, giving away other people's money, the forcing someone else to take the blame and suffer the consequences.

This is fine, BTW.   It will just push more businesses to leave California. 


 

golfboy » 11 May 2023, 7:07 pm » wrote: ↑

11 May 2023, 7:07 pm

The State took that money and spent it. 
They defaulted on the loan, and businesses in the state will have to pay it. 

This is typical liberalism, giving away other people's money, the forcing someone else to take the blame and suffer the consequences.

This is fine, BTW.   It will just push more businesses to leave California.

hope they don't come to Texas!!!!