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The great California tax hoax: $577 billion in hidden assets never revealed to voters

(NaturalNews) Is California really as bankrupt as its governor claims? Not if you believe in mathematics and accounting. As this story shows, California has hidden away $577 billion in assets, all revealed in CAFR documents (Comprehensive Annual Financial Report) that are becoming increasingly well-known.

California's government, you see, has two main funds in which money is kept. The first fund, which is bankrupt, covers all government activities and expenditures. But the second fund -- the hidden "slush" fund with $577 billion in assets -- holds all the money the government generates by conducting "nongovernmental" businesses and activities that aren't officially part of the government. This money is hidden from California's taxpayers who are repeatedly lied to and told they have to pay more in taxes to prevent the state from going broke.

Click here to see a complete listing of all the nongovernmental funds that Californians aren't being told about.

This list includes organizations and assets such as:

• Independent System Operator: $876 million
• The Economic Recovery Bond Sinking Fund: $484 million
• Receipting and Disbursing Fund: $16.6 billion
• State Water Pollution Control Revolving Fund: $3.1 billion
• Financing for Local Governments and the Public Fund: $5.2 billion

California's criminal government hides hundreds of billions of dollars in these funds, then uses that money to hand out juicy contracts to their crony friends and political supporters while financially soaking all the businesses and taxpayers in the state who are trying to make ends meet.

Continue:
http://www.naturalnews.com/038275_California_bankruptcy_hidd...



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I'm not surprised

I live in Orange County California, and have been following this fraud. The people in charge in California are always finding money that had mysteriously been lost. At one time, they were threatening to shut down the public parks and beaches if taxes were not raised (which they use to threaten every year, then a whistle blower came forward and said that the parks had billions in funds. As Rick Perry said, OOPS. Now that that got out and the public knows about how the parks department "found" the missing money, the public became outraged and they never threaten to close the parks anymore. Governor Brown is always lying to the public.

Been trying to get

people to look at this for years.

Brief explanation: http://www.youtube.com/watch?v=zmY_rqR2t0w

great sites:

www.cafr1.com

www.cafrman.com

California's parallel universes

I won't comment on this hidden fund because I know nothing about it. However, I once took a 'shortcut' from Red Bluff, CA en route to Eureka based on a secondary road as shown on a AAA map. The road became narrower as I went along. Eventually, I had to open and shut a couple of ranch gates that crossed the road and ford a shallow creek before getting back to Highway 36. In that distance of maybe 30 miles, it seemed longer, I didn't see one house. Just a couple of old camper trailers presumably for seasonal ranch employees. This wasn't the crowded California one sees from superhighways. This was huge expanses of privately owned unpopulated space.

There is an artificial shortage of land in California controlled by zoning and differential tax rates. While so many Californians stress themselves out to purchase a small property, there are still huge areas of private property to be meted out. The planners and the landlords behind them wouldn't have it any other way.

Criminal

No doubt about it.

Like hiring contractors lol

donvino

hmm

Crony capitalism is to your liking?

Dr. Ron Paul spoke often against corporatism and also included his anti-corporatism views in his books.

Can you please explain what you mean?
Thank you.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

this is in every state

and city and town. they ALL have Comprehensive Annual Financial Reports.

not just california.

Ron Paul is My President

Thank you Sunny

I wonder why the mainstream media is not covering this story.

Crooks this word comes to mind when I think about the media the House the Senate the President the TSA DHS FISA PIPA CISPA DEA and the list goes on and on...

Banksters cause wars.
Central banks.
Gold standard would prevent countries from over spending and for fighting these wars.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Wow.

Very interesting!

What would the Founders do?

Good find

.

Thanks for a bump Jiminy

Thanks for bumping this very important eye opening article.

Merry Christmas.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15