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California Will Not Complete $77 Billion High-Speed Rail Project (reuters.com)
An anonymous reader quotes a report from Reuters: California Governor Gavin Newsom said on Tuesday the state will not complete a $77.3 billion planned high-speed rail project, but will finish a smaller section of the line. "The project, as currently planned, would cost too much and take too long. There's been too little oversight and not enough transparency," Newsom said in his first State of the State Address Tuesday to lawmakers. "Right now, there simply isn't a path to get from Sacramento to San Diego, let alone from San Francisco to (Los Angeles). I wish there were," he said. Newsom said the state will complete a 110-mile (177 km) high-speed rail link between Merced and Bakersfield. In March 2018, the state forecast the costs had jumped by $13 billion to $77 billion and warned that the costs could be as much as $98.1 billion.
California planned to build a 520-mile system in the first phase that would allow trains to travel at speeds of up to 220 miles per hour in the traffic-choked state from Los Angeles to San Francisco and begin full operations by 2033. Newsom said he would not give up entirely on the effort. "Abandoning high-speed rail entirely means we will have wasted billions of dollars with nothing but broken promises and lawsuits to show for it," he said. "And by the way, I am not interested in sending $3.5 billion in federal funding that was allocated to this project back to Donald Trump."
California planned to build a 520-mile system in the first phase that would allow trains to travel at speeds of up to 220 miles per hour in the traffic-choked state from Los Angeles to San Francisco and begin full operations by 2033. Newsom said he would not give up entirely on the effort. "Abandoning high-speed rail entirely means we will have wasted billions of dollars with nothing but broken promises and lawsuits to show for it," he said. "And by the way, I am not interested in sending $3.5 billion in federal funding that was allocated to this project back to Donald Trump."
Fucking give the feds that 3.5 billion.
Then have California tell the rest of the US: Fuck you, we're not paying taxes.
Let's see how the rest of the US fares if California's tax base started only funding itself.
Looks like this so does not bode well for one of the cornerstones of the Green New Deal which envisions cris-crossing the USA with high speed rail. Next on the Deal's list for red pill economic reality - the paying for those who are "unwilling to work."
And I hope grimes rubs her pussy in my face :) Especially if Elon just rode her bareback...
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California state income tax rate table for the 2018 - 2019 filing season has nine income tax brackets with CA tax rates of 1%, 2%, 4%, 6%, 8%, 9.3%, 10.3%, 11.3% and 12.3% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. Adding the 1% millionaire's tax yields a top income tax rate of 13.3%, which does not appear on the official tax rate schedules printed by the state.
Hawaii state income tax rate table for the 2018 - 2019 filing season has twelve income tax brackets with HI tax rates of 1.4%, 3.2%, 5.5%, 6.4%, 6.8%, 7.2%, 7.6%, 7.9%, 8.25%, 9%, 10%, and 11% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses. The Hawaii tax rate and tax brackets increased from last year adding back the last three high income earners brackets.
Added to a hypothetical federal rate of 90% a 10.3% or 11.3% or 12.3% or 13.3% or 10% or 11% state rate would tend to work out to 100% or more.