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A More Effective Safety Net, Not A Basic Income, Will Help Lift People Out of Poverty

A More Effective Safety Net, Not A Basic Income, Will Help Lift People Out of Poverty Wayne Winegarden and Nikhil Agarwal December 2024 2024 was a good year for proponents of a universal basic income (UBI). Following the 2019 experiment in Stockton, UBI pilot programs are underway across cities in California including Fresno and Sacramento. This is unfortunate. Advocates such as former Stockton Mayor Michael Tubbs argue that “we need a social safety net that ...
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While National Economic Performance Has Supported State Revenue Growth, Greater Spending Restraint Is Still Required

While National Economic Performance Has Supported State Revenue Growth, Greater Spending Restraint Is Still Required Wayne Winegarden and Nikhil Agarwal November 2024 Three months into the 2024-25 fiscal year, state revenues are outperforming lowered expectations. Should these trends continue, the FY2025-26 budget process may avoid the crushing deficit problem that plagued the FY2024-25 budget negotiations, but only if our political leaders employ a disciplined approach toward spending. The need for spending control is amplified because ...
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Spending Watch

The Governor’s Special Session Will Worsen Gasoline Affordability

The Governor’s Special Session Will Worsen Gasoline Affordability Wayne Winegarden and Kerry Jackson September 2024 The special session called by Governor Gavin Newsom is supposed to save Californians from price gasoline spikes. The governor wants to blame the price spikes on greedy corporations. His accusations are merely a diversion from the actual culprits – politicians in Sacramento. Instead of alleviating consumers affordability problems, the special session may inevitably prove Gideon Tucker’s maxim that “no man’s ...
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NEW BRIEF: CalPERS’ Political Agenda Puts Taxpayers and Retirees at Risk with Low Returns, Higher Unfunded Liabilities

SACRAMENTO – CalPERS – which adheres to a politicized Environmental, Social, and Governance (ESG) agenda – is generating lower returns in its investment strategies compared to a more typical investment strategy, finds a new brief released today by the Pacific Research Institute, a non-partisan California-based free market think tank. CalPERS generated a 10-year average annual return of 7.1% through June 30, 2023.  By comparison, PRI’s research shows that a typical diversified investment portfolio of 60 ...
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California’s Expensive but Ineffective Income Support Spending

California’s Expensive but Ineffective Income Support Spending Wayne Winegarden August 2024 Including federal, state, and local funds, California’s per capita spending on income support programs is 81 percent higher than the average expenditures for all other states – per capita spending of $3,869 compared to $2,141. These expenditures include “cash assistance paid directly to needy persons . . . vendor payments made directly to private purveyors for medical care, burials, and other commodities and services ...
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Californians Have Little to Show for All That Government Spending

Californians Have Little to Show for All That Government Spending Wayne Winegarden     July 2024 It should not shock anyone that the FY2024-25 budget was short on fiscal discipline and long on budget gimmicks and fund shifts. Now that this year’s budget process is coming to an end, it is imperative to step back and gain some budgetary perspective. The Governor seems to think “this agreement sets the state on a path for long-term fiscal ...

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Spending Watch

California’s Expensive but Ineffective Income Support Spending
New study shows fast food minimum wage law already a disaster

Spending Watch

Californians Have Little to Show for All That Government Spending

Fast food restaurants are raising prices after minimum wage hike

Their Pleasure: Legislators Cook Up A Law That Burns Fast Food

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May Revise Preview: Sacramento Should Learn Lessons from the 2009 Budget Crisis

Read on the negative effects of raising minimum wage

$20 Minimum Wage for Restaurant Workers is Only the Beginning

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Spending Watch

The Governor’s Special Session Will Worsen Gasoline Affordability

The Governor’s Special Session Will Worsen Gasoline Affordability Wayne Winegarden and Kerry Jackson September 2024 The special session called by Governor Gavin Newsom is supposed ...
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Learn about the problems with LA's Measure ULA

Yet another example of a tax that didn’t live up to its promises

Measure ULA, approved by nearly 58% of the voters, initially imposed a 4% “mansion tax” on the sales of any homes or commercial properties valued ...
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Read the latest about California's misguided energy policies

As Chevron Exits California, Will Still Attempt to Buy Its Oil Refineries?

It’s unlikely that was the plan. But it is interesting that at roughly the same time Chevron made its announcement, which was no surprise to ...
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Read why latest employer is leaving California

Chevron’s Departure Highlights California’s Risky Economic Future

Companies have been decamping from California for greener pastures so frequently that, in some ways, Chevron’s announcement is barely newsworthy. The particulars of Chevron’s decision ...
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Biden’s rent-control plan will only make America’s housing crisis worse

President Joe Biden is suggesting that a federal limit on annual rent increases in residential units will ease housing costs. This is what happens when economist ...
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Instead Of The CHIPS Act Congress Should Address Patent Troll Abuse

President Biden and Democratic Party leaders are trying to take credit for seeding the next generation of innovations in the information technology sector. Crowing about ...

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Commentary

Learn more about Trump's tax plan

How Trump’s Tax Plan Could Affect the Middle Class

Learn more about how taxes harm economic activity

Does San Diego County’s Measure G measure up?

Learn more about LNG exports

The High Costs Of Obstructing LNG Exports

Learn about the problems with LA's Measure ULA

Yet another example of a tax that didn’t live up to its promises

Learn why price controls won't reduce inflation

Kamala Harris is wrong. American economic history is replete with failed price control policies
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