Interesting statistics

From the mid 1980's through 2005, California's population increased by 10 million. Unfortunately, it added a whopping 7 million to its Medicaid roles, but only added a measly 115,000 folks who pay income taxes. Regrettably, they treat stock options and capital gains as ordinary income, so the top 1% contributes (in good times) one half of the State's total income tax revenue. Because the State Retirement System (Calpers) is underfunded by $250 billion, Jerry Brown wants to raise the maximum marginal income tax rate to 12.3%, making it the highest rate of any state. What a great idea!!




President Obama favors eliminating subsidies from the oil industry. After all, they make billions! Why should they receive any subsidies? Well it turns out, they don't receive any subsidies. They do receive tax deductions (expenses etc.) like all other businesses. In fact, they pay a higher percentage of their earnings (41%) to the U.S Treasury than any other industry. They have paid more to the government than they paid their owners (stockholders). Apple Computer pays an effective rate of 25%, and Obama thinks that is too much.

The oil and gas industry has invested trillions in order to make billions. Their return on their trillions invested is 6.7%. Industries in pharmaceuticals, technology, beverage,etc., triple the oil and gas industry's return on investment. Interesting facts!

Ray Zimmerman