Add up all the states, counties, cities, towns, school districts, authorities and other revenue generating entities.
The number of such entities is massive.
We've been conditioned to believe that these entities: a) depend on tax revenues entirely, b) live hand to mouth and c) are perpetually broke.
The reality is that ALL of these entities maintain off-budget investment accounts, some small, some massive and that the revenue from these funds which in California are estimated to be $8 trillion alone surpasses revenue derived from taxes.
And when these entities want more money, they create laws to create new revenue opportunities for themselves, one of the biggest ones being mandatory insurance.
Do you see why mandatory health insurance is such a big deal to these thieves?
More from the speaker...
Collective local governments in California are now over 14,000. The State Government is the largest but collective totals from local governments from within the State dwarf the revenue pool of the state.
Collective CA local government's each have many specialty investment accounts (many thousands of separate funds large and small). The total from all are in excess of eight-trillion dollars. (conservative estimate)
To resolve the so called "Budget Shortfall" I would do a standing audit of "all" local government investment funds and then from each deduct an equal percentage to satisfy any budget shortfall "with" a 50 billion dollar cushion to last through the rough times... the "equal" percentage would probably be less than 2% to accomplish that objective, and done deal..
People have been sound-bite conditioned to think Government only generates tax income and that is where the public's focus is directed. In reality in combination of all local governments and the state from CA the investment capital is massive (noted above in excess of 8 trillion dollars) that generates in return revenue greater than all taxation collected in the state.
The public has been kept oblivious to the scope and size of these collective funds and through intentional misdirection pointed at tax income and expenditures dealt with. So your pie charts that give the impression of 100% is actually just 1/3rd of the pie when it comes down to government's true "gross income"
Now you will hear expressions like: "Here is our rainy day fund" and in reality that is like your pocket change jar you keep in the kitchen compared to the many other thousands of other government investment funds never mentioned.
You will also hear when investments are mentioned: "Oh, that is our employees retirement Funds" WRONG... The retirement funds are but one category.. (a large one) then you have self insurance funds; advance forward liability funds; special liability funds; enterprise forward project funds; and the list goes on and on. Just on the state level you are looking at around 12,000 separate specialty investment funds large and small. And with an audit of all local government specialty investment funds would be well in excess of 100,000 specialty investment accounts.