INCOME FOR CALIFORNIANS FALLS!
THIS DEMONSTRATES TO THE CORPORATE PAYMASTERS OF FEINSTEIN, WAXMAN, PELOSI, BOXER, LOFGREN, HONDA THAT THEIR SELLOUT OF THE PEOPLE OF CALIFORNIA FOR BIGGER CORPORATE PROFITS IS WORKING!
NO LEGAL NEED APPLY HERE!!!
THERE ARE BOATLOADS OF INDIANS, CHINESE, AND HORDES OF MEXICANS WALKING OVER OUR BORDERS AND INTO OUR JOBS. HUNDREDS OF PREGNANT MEXICANS WALK OVER OUR BORDERS AND INTO OUR “FREE” HOSPITALS TO GIVE BIRTH TO THEIR “ANCHORS” AND LEAVE TO COLLECT 18 YEARS OF WELFARE FOR THAT CHILD.
WELFARE TO ILLEGALS IN LOS ANGELES ALONE IS $50 MILLION PER MONTH! YES, MONTH, NOT YEAR!
THERE HAVE BEEN 2000 CALIFORNIANS MURDERED BY ILLEGALS THAT FLED BACK OVER THE OPEN AND UNDEFENDED BORDERS WITH NARCOMEX TO AVOID PROSECUTION….
WHILE THESE LA RAZA WHORES HAVE VOTED FOR EVERY PAY RAISE CONGRESS COULD GENERATE FOR THEMSELVES, OPEN BORDERS, NO E-VERIFY, NO WALL, THEY HAVE DONE NADA FOR THE LEGALS OF THIS STATE.
YOU REALLY WANT TO KEEP ELECTING LA RAZA BARBARA BOXER??
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Personal income falls 2.5% in California
Tom Abate, Chronicle Staff Writer
Friday, March 26, 2010
Personal income in California fell last year for the first time since the Great Depression, the Commerce Department said Thursday.
State income plunged even more sharply in 2009 than the similar, historic drop that occurred on a national basis, a notable reversal given that California generally has beaten the national averages throughout the 80-year history of this report.
Personal income includes wages and salaries, health and pension benefits, rents, dividends and interest, federal payments such as unemployment and Social Security, and just about every form of wealth except stock sales and other capital gains.
The 2.5 percent drop in statewide personal income works out to $1,527 fewer dollars for every man, woman and child in California.
The accompanying nationwide drop of 1.7 percent works out to a $1,028 decline in per capita income for all Americans.
Prior to last year's drop, personal income in California had fallen only five times since 1929, when such record keeping began. All five of those occurrences were during the Depression.
The worst statewide decline on record came in 1932, when personal income fell 21.7 percent.
U.S. personal income also fell five times during the Great Depression, with the worst drop of 23.6 percent occurring in 1932.
Nationwide, the measure dropped one additional time in 1949, when average U.S. personal income declined 1.3 percent. But incomes in California grew through that post-World War II slump with an increase of 1.7 percent that year.
Years of growth
Over the 80 years that federal records span, personal income in California has grown an average of 7.3 percent annually.
By comparison, U.S. personal income growth has averaged 6.4 percent annually since 1929.
Howard Roth , chief economist for the California Department of Finance, said Gov. Arnold Schwarzenegger's budget assumed a slightly larger income drop of 2.8 percent, so Thursday's bleak numbers have already been factored into how much tax revenue the state can expect in this budget crisis.
Although income dipped last year on both the state and federal levels, Roth said the Commerce Department figures suggest that this measure may be heading back up. The federal report notes that income fell in the first part of 2009, but turned upward toward the end of the year.
"The worst of this is behind us," Roth said.
Pain widely felt
Regional expert Jon Haveman with Beacon Economics in San Rafael said Thursday's figures confirm that this has been the worst downturn since the 1930s, that California has been harder hit than the nation as a whole and that the pain has been widely felt.
"What we're seeing is a decline in income among the middle and lower classes," he said.
In all, 44 states experienced income declines in 2009, the worst being in Nevada where the measure fell 4.8 percent. Six states plus the District of Columbia posted increases last year led by West Virginia, where personal income grew 2.13 percent.
E-mail Tom Abate at tabate@sfchronicle.com.
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