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Originally Posted by Pedestrian
Probably not capital gains last year, at least from stocks--those will come this year. Although many people had large unrecognized gains last year, much of it is being recognized this year and last year they would have also had losses from the spring to write off against them.
Some people who moved and sold homes they may have owned for many years probably would have had gains on those homes. And a lot of it is other forms of income but also $28 billion in federal "stimulus" the Dems insisted the state needed so badly last summer. Newsom's ally Nancy Pelosi in effect is helping him win the recall by having the feds provide his with cash to hand out.
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It's not Newsom, the state has to do something with most of the money due to state law. I'll go look for what the law specifically is, it might have been enacted to keep Brown from hoarding money. Specific percentages go to specific areas, and the main one is education. I think the state can only spend something like 30-40 billion of it for what they want. It's called the Gann limit from proposition 4.
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