WRT the $6.6-billion in unexpected revenues coming into the California budget, I'm reminded of that old says that goes: "a billion here, a billion there, pretty soon you're talking about real money." Of course, the state remains close to $10-billion in the hole. Still, Republicans are arguing the found money means Governor Brown's proposed "tax extensions" are now unnecessary [Natch].
And just in case anyone was wondering whether progressive tax rates actually make a difference in government revenues, consider that "State finance officials attribute the revenue windfall — achieved despite the state's high unemployment and stagnant wages — to a sharp increase in earnings of the wealthy..."
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