California

By Political Calculations

When it comes to the health of his state's economy, California Governor Jerry Brown has been walking on eggshells this year.

Twice each year, once in January and again in May, Gov. Jerry Brown warns Californians that the economic prosperity their state has enjoyed in recent years won't last forever.

 

Brown attaches his admonishments to the budgets he proposes to the Legislature – the initial one in January and a revised version four months later.

 

As DataTrek's Nicholas Colas reminds us, recreational marijuana sales become legal in California starting on New Year’s Day 2018. Given that one in eight Americans live in the state, this move will have major implications for the entire US legal cannabis industry.

So, to address any pent up investor questions, Colas has put together a list of 7 major points about the rollout in terms of regulations, taxes, revenue estimates, potential banking solutions, and employment consequences.

Here are the details:

Now that the massive new tax bill has passed, I thought I'd do a little experiment with a spreadsheet to see how a hypothetical Silicon Valley, California earner might be affected. I was sure his tax bill would be higher, but I am surprised at how much higher.I wouldn't be surprised if some people decided not to stay in their homes since their tax bite is so substantial.

Just a few months after implementing a massive 60% hike in gasoline taxes, raising them from $0.297 per gallon to $0.417, the state of California is now one step closer to implementing a brand new tax that would charge drivers for each mile driven. 

It’s been nearly a week since the first stirrings of the wildfires ripping across Southern California sprang to life, and firefighters are still struggling to contain the blazes. The two largest and most destructive fires are growing despite firefighters’ best efforts at containment as the powerful Santa Ana winds – which are picking back up after another brief lull - fan the flames.