Sale Tax Evaporation Confirm Zombulation Nation
I know everybody knows this and we should all buy municipal bonds despite the fact that tax receipts are evaporating...but for those select few that might still want a different perspective from the pancake perspective:
Cities and counties in California are losing millions of dollars in sales tax receipts due to slower retail sales, compared with last year.
In the most recent data available from the state Board of Equalization, jurisdictions around the state got $244 million in October, 14.5 percent less than they got in October 2008 as their share of the state's 8.25 percent sales tax. One percent from the sales tax — $1 on each $100 of sales — goes back to cities and counties.
But the pain is not being shared equally. Better off areas are generally seeing a smaller drop-off in sales tax receipts. A few jurisdictions saw their sales tax receipts increase.
San Francisco got $6.9 million in October, 9.2 percent less than the $7.6 million it received in October 2008.
The comparison with last October is interesting because the economy had already begun dropping at that point. Statewide, cities and counties got 6.2 percent less in October 2008 than they did in October 2007.
COULD YOU IMAGINE HOW BAD THINGS WOULD BE IF WE WERE NOT BORROWING TRILLIONS OF DOLLARS AND PRETENDING OUR ECONOMY WAS DOING OK????????????
What happens when there are a lot of hungry people wanting pancakes and few cops and firefighters left?????
San Diego - 200 Layoffs
Update: Minneapolis Officers - 41 At End of Year
Tucson AZ - 140 Officers and Firefighters Face Layoffs
Hancock County Sheriff's office - 7
Update: Vallejo Police Department Ca - 7 , and 17 Demoted by Jan 1
Des Moines Council - Expect to Cut 5 Officers Jobs Tonight
Upper Merion Township Police Department - Furloughs or Layoffs
IF WE DON'T RESTRUCTURE SOON.....SOON THERE WILL NOT BE MUCH LEFT TO RESTRUCTURE..........