California revenue projected to exceed budget estimates by $2 billion
Source: Sacramento Bee
Barring a stock market slump that drags down the state’s economy, California budgets will run surpluses through the end of the decade even as temporary tax increases phase out over the coming years, the Legislature’s nonpartisan fiscal analyst said Wednesday.
The fiscal outlook by the Legislative Analyst’s Office also projects that the state will take in $2 billion more in revenue through June than lawmakers expected when they approved the current budget plan. All of the increase will be absorbed by the state’s voter-approved constitutional funding guarantee for schools and community colleges.
And the state is on pace to have $4.2 billion in reserves by June 2016 under Proposition 2, the rainy-day reserve passed by voters earlier this month.
Read more: http://www.sacbee.com/news/politics-government/capitol-alert/article4016095.html
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I've been admiring his skills/abilities for years now.
We love our Jerry Brown in California!!! 
Jerry Brown!!! 
& recommend.
The income of top earners and corporations is highly cyclical.
We've had a five-year bull market in stocks and financial assets that has been fueled by unprecedented fake money (or "quantitative easing"
injections by the Fed, and unprecedented budget deficit spending by the USG. The underlying business fundamentals come nowhere near justifying the speculative run-up in the so-called "markets." The game is rigged, and the one-percenters who are stripping wealth from it know it, nod to it, fear it...and keep trying to get what they can while they can.
Government and particularly Fed actions have created super-bubbles that cannot be sustained, because there is no actual physical wealth creation driving the prices up.
This is why tax revenues are fatter these days.
C.f. 2008 for an idea of what happens when the carousel stops. (Or take a look at Japan.)
The fundamentals are now and will be far worse in 2015 than in 2008, and the Fed and the USG are, comparatively speaking, out of ammo to deal with the next crisis.
I agree with your political observations, but not with your argument about what has driven tax revenues the past few years. The financial economy is just a big financial Potemkin village.
When the music stops, so will tax collections, by catastrophic amounts. Our short-sighted governments, from local all the way to federal, have no rainy day funds, but constantly accelerating obligations. Not hard to see what will happen then.
The red team vs. blue team paradigm is not helpful here. A cabal of elites push that mindset on us un-elites, because it diverts attention from them and their usurpation of power and their steady parasitic drain of honestly earned money and assets from the true wealth and value creators of the world. They laugh at us trying to see which jersey someone is wearing.
... 
Unfortunately the Pukes took back the state House, so bye-bye surplus and welcome back state government shutdowns. 
