LAO's CalFacts Publication: Economy and Tax Topics December 4, 2014

We are launching this blog at the same time we release this year's edition of CalFacts. In so doing, we can highlight (and, in some cases, expand upon) CalFacts entries concerning California's economy and taxes.


Great Recession: More Job Loss...Longer Time to Recover December 4, 2014

The 2007-2009 recession hit California very hard. Only recentlyin mid 2014did California return to the number of jobs it had before the recession.


"Top 1 Percent" Pays Half of State Income Taxes December 4, 2014

In 2012, for perhaps the first time in state history, the top 1% of the state's tax filers paid slightly over half of the state's personal income taxes.


California Is the World's Eighth Largest Economy December 4, 2014

California's economy ranks among the largest on earth. As of 2013, it was larger than some of the Group of Eight (G8) industrialized economies, such as Canada and Italy.