Another example of bleeding heart policies that will cost people down the road. In the face of runaway inflation, California is about to dump $11B more of policy stimulus into the economy to give "taxpayers relief" from high gas prices. Which is a worthy pursuit. If not for the fact, the wealthy (who don't need relief) will also receive funds as well.
Poorer households will receive up to $1,050 in the form of a one-time check.
Households making $150K-$250K will get $500. And, get this, households making up to $500,000 will receive $400. These idiots think it's a good idea to pump more money to people who don't need it and will go and spend it on discretionary goods, sending inflation higher.
Pretty much every notable economist in the country is stating that consumer spending needs to come down, and the economy needs to cool off, to tame inflation. And here's California going "hey everyone, here's $11B to just pump into the economy as you wish".
College economic departments are going to be studying the ridiculousness of these policy decisions of the past 3 years, for decades to come.
Poorer households will receive up to $1,050 in the form of a one-time check.
Households making $150K-$250K will get $500. And, get this, households making up to $500,000 will receive $400. These idiots think it's a good idea to pump more money to people who don't need it and will go and spend it on discretionary goods, sending inflation higher.
Pretty much every notable economist in the country is stating that consumer spending needs to come down, and the economy needs to cool off, to tame inflation. And here's California going "hey everyone, here's $11B to just pump into the economy as you wish".
College economic departments are going to be studying the ridiculousness of these policy decisions of the past 3 years, for decades to come.
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