The US Is Now Spending 26% Of Available Tax Revenue To Pay Interest

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The US Is Now Spending 26% Of Available Tax Revenue To Pay Interest

Mozilla's top exec defends in-Firefox ads, revenue search

Mozilla"s top exec defends in-Firefox ads, revenue search
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif

Computerworld – The chairwoman of Mozilla Foundation, the non-profit that funds the development of Firefox, last week defended the decision
to pursue in-browser ads, saying that it’s important to generate revenue.

“To explicitly address the question of whether we care about generating revenue and sustaining Mozilla’s work, the answer
is yes,” Mitchell Baker, former CEO of Mozilla Corp., the subsidiary responsible for Firefox, and now the chair of the parent
foundation, wrote on a blog Thursday. “In fact, many of us feel responsible to do exactly this.”

Mitchell Baker, chairwoman of Mozilla Foundation. (Image: Mozilla.)

Baker was responding to questions and concerns raised earlier in the week after Mozilla announced “Directory Tiles,” an under-development Firefox feature that would display sponsored thumbnails — advertisements — in the New Tabs page of
new users of the browser.

In her post, Baker acknowledged that Firefox users in general, and those more intimately involved with Mozilla — employees
and code contributors — were by nature suspicious of any connection to commercial or business needs, including producing
revenue.

“Pretty much anytime we talk about revenue at Mozilla people get suspicious,” she said. “Mozillians get suspicious, and our
supporters get suspicious. There’s some value in that, as it reinforces our commitment to user experience and providing value
to our users.”

But she argued the obvious point that money is necessary to fund the foundation, and thus, Firefox and the group’s other projects.
And she said that money could be raised without damaging the organization’s stance on user privacy or harming its reputation
with its users.

“When we have ideas about how content might be useful to people, we look at whether there is a revenue possibility, and if
that would annoy people or bring something potentially useful,” Baker said. “Ads in search turn out to be useful.”

The concept of Directory Tiles as presented last week was straight-forward: When new users start Firefox, they will see pre-populated
tiles, some of them advertisements, on the New Tab page. For long-time Firefox users, that page, which has room for nine thumbnails,
shows the most-frequently-visited websites. Someone new to Firefox, of course, would see nothing. To jump-start the experience,
Mozilla will fill the New Page spots.

Two or three of the nine thumbnails would be devoted to such ads, Baker said, and under normal circumstances, they would disappear
within 30 days as the new user browsed the Web enough for Firefox to replace those ads with the user’s most visited URLs.

Other Mozilla executives joined Baker in promoting the Directory Tiles idea or in providing more detail about how the ad program
would work. Darren Herman, a former advertising executive and venture capitalist hired by Mozilla last year to lead a new
content services group specifically tasked to find new sources of revenue, contributed an FAQ that outlined the parameters of Directory Tiles. There, Herman pointed out, as did Baker, that the ads would be served without
relying on any tracking of a user’s movements through the Internet. Instead, the ads would only examine the user’s physical
location to, for example, provide ads pertinent to that locale or in its language.

Netflash

Read more about Mozilla"s top exec defends in-Firefox ads, revenue search and other interesting subjects concerning NSA at TheDailyNewsReport.com

Mozilla's top exec defends in-Firefox ads, revenue search

Mozilla"s top exec defends in-Firefox ads, revenue search
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif

Computerworld – The chairwoman of Mozilla Foundation, the non-profit that funds the development of Firefox, last week defended the decision
to pursue in-browser ads, saying that it’s important to generate revenue.

“To explicitly address the question of whether we care about generating revenue and sustaining Mozilla’s work, the answer
is yes,” Mitchell Baker, former CEO of Mozilla Corp., the subsidiary responsible for Firefox, and now the chair of the parent
foundation, wrote on a blog Thursday. “In fact, many of us feel responsible to do exactly this.”

Mitchell Baker, chairwoman of Mozilla Foundation. (Image: Mozilla.)

Baker was responding to questions and concerns raised earlier in the week after Mozilla announced “Directory Tiles,” an under-development Firefox feature that would display sponsored thumbnails — advertisements — in the New Tabs page of
new users of the browser.

In her post, Baker acknowledged that Firefox users in general, and those more intimately involved with Mozilla — employees
and code contributors — were by nature suspicious of any connection to commercial or business needs, including producing
revenue.

“Pretty much anytime we talk about revenue at Mozilla people get suspicious,” she said. “Mozillians get suspicious, and our
supporters get suspicious. There’s some value in that, as it reinforces our commitment to user experience and providing value
to our users.”

But she argued the obvious point that money is necessary to fund the foundation, and thus, Firefox and the group’s other projects.
And she said that money could be raised without damaging the organization’s stance on user privacy or harming its reputation
with its users.

“When we have ideas about how content might be useful to people, we look at whether there is a revenue possibility, and if
that would annoy people or bring something potentially useful,” Baker said. “Ads in search turn out to be useful.”

The concept of Directory Tiles as presented last week was straight-forward: When new users start Firefox, they will see pre-populated
tiles, some of them advertisements, on the New Tab page. For long-time Firefox users, that page, which has room for nine thumbnails,
shows the most-frequently-visited websites. Someone new to Firefox, of course, would see nothing. To jump-start the experience,
Mozilla will fill the New Page spots.

Two or three of the nine thumbnails would be devoted to such ads, Baker said, and under normal circumstances, they would disappear
within 30 days as the new user browsed the Web enough for Firefox to replace those ads with the user’s most visited URLs.

Other Mozilla executives joined Baker in promoting the Directory Tiles idea or in providing more detail about how the ad program
would work. Darren Herman, a former advertising executive and venture capitalist hired by Mozilla last year to lead a new
content services group specifically tasked to find new sources of revenue, contributed an FAQ that outlined the parameters of Directory Tiles. There, Herman pointed out, as did Baker, that the ads would be served without
relying on any tracking of a user’s movements through the Internet. Instead, the ads would only examine the user’s physical
location to, for example, provide ads pertinent to that locale or in its language.

Netflash

Read more about Mozilla"s top exec defends in-Firefox ads, revenue search and other interesting subjects concerning NSA at TheDailyNewsReport.com

Mozilla's top exec defends in-Firefox ads, revenue search

Mozilla"s top exec defends in-Firefox ads, revenue search
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif

Computerworld – The chairwoman of Mozilla Foundation, the non-profit that funds the development of Firefox, last week defended the decision
to pursue in-browser ads, saying that it’s important to generate revenue.

“To explicitly address the question of whether we care about generating revenue and sustaining Mozilla’s work, the answer
is yes,” Mitchell Baker, former CEO of Mozilla Corp., the subsidiary responsible for Firefox, and now the chair of the parent
foundation, wrote on a blog Thursday. “In fact, many of us feel responsible to do exactly this.”

Mitchell Baker, chairwoman of Mozilla Foundation. (Image: Mozilla.)

Baker was responding to questions and concerns raised earlier in the week after Mozilla announced “Directory Tiles,” an under-development Firefox feature that would display sponsored thumbnails — advertisements — in the New Tabs page of
new users of the browser.

In her post, Baker acknowledged that Firefox users in general, and those more intimately involved with Mozilla — employees
and code contributors — were by nature suspicious of any connection to commercial or business needs, including producing
revenue.

“Pretty much anytime we talk about revenue at Mozilla people get suspicious,” she said. “Mozillians get suspicious, and our
supporters get suspicious. There’s some value in that, as it reinforces our commitment to user experience and providing value
to our users.”

But she argued the obvious point that money is necessary to fund the foundation, and thus, Firefox and the group’s other projects.
And she said that money could be raised without damaging the organization’s stance on user privacy or harming its reputation
with its users.

“When we have ideas about how content might be useful to people, we look at whether there is a revenue possibility, and if
that would annoy people or bring something potentially useful,” Baker said. “Ads in search turn out to be useful.”

The concept of Directory Tiles as presented last week was straight-forward: When new users start Firefox, they will see pre-populated
tiles, some of them advertisements, on the New Tab page. For long-time Firefox users, that page, which has room for nine thumbnails,
shows the most-frequently-visited websites. Someone new to Firefox, of course, would see nothing. To jump-start the experience,
Mozilla will fill the New Page spots.

Two or three of the nine thumbnails would be devoted to such ads, Baker said, and under normal circumstances, they would disappear
within 30 days as the new user browsed the Web enough for Firefox to replace those ads with the user’s most visited URLs.

Other Mozilla executives joined Baker in promoting the Directory Tiles idea or in providing more detail about how the ad program
would work. Darren Herman, a former advertising executive and venture capitalist hired by Mozilla last year to lead a new
content services group specifically tasked to find new sources of revenue, contributed an FAQ that outlined the parameters of Directory Tiles. There, Herman pointed out, as did Baker, that the ads would be served without
relying on any tracking of a user’s movements through the Internet. Instead, the ads would only examine the user’s physical
location to, for example, provide ads pertinent to that locale or in its language.

Netflash

Read more about Mozilla"s top exec defends in-Firefox ads, revenue search and other interesting subjects concerning NSA at TheDailyNewsReport.com

Facebook Fraud - How Much of Facebook"s Ad Revenue is Legitimate?

Facebook Fraud - How Much of Facebook"s Ad Revenue is Legitimate?
http://img.youtube.com/vi/oVfHeWTKjag/0.jpg

Ad revenue in the online world is based on clicks and impressions. For example, I have a relationship with Google that generally pays on clicks. I also have a relationship with Investing Channel that pays on impressions (views).

I do not pay anyone to direct traffic to my blog and I do not ask people to click on ads they are not interested in. Nor do I want them too.

On several occasions, I even reported myself to Google.

Why?

Because I accidentally clicked on an ad. It’s easy to do when scrolling, even on your own blog. I don’t pretend to be a knight in shining armor, but I do think honesty is the best policy.

On each occasion I reported myself, I believe Google made a small adjustment to my ad revenue, and theirs as well.

Here’s the question of the day: When tens or hundreds of millions of dollars of stock market valuations are on the line, does integrity go out the window?

The following video brings the above question into play.

Link if video does not play: Facebook Ad Revenue Fraud.

Please play the video. It’s a real eye opener that is hard to describe. You will enjoy it.

Facebook vs. Google

From my experience, Google is very meticulous about weeding out fraud. If you pay money to generate clicks or impressions on your site, Google will drop you from its ad program.

If the above video is even in the ballpark, there are serious issues at Facebook. In general there are serious problems if you pay someone to “like” you or drive traffic to you.

Addendum:

Just moments after I made the above post,  I received an email from Lenny Teytelman regarding his company’s experiences with fake “likes”: What do Facebook “likes” of companies mean?

The moral of this story is don’t pay for “likes”, don’t pay to have someone drive traffic to your site either.

Mike “Mish” Shedlock
http://globaleconomicanalysis.blogspot.com

Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Mish’s Global Economic Trend Analysis

Read more about Facebook Fraud - How Much of Facebook"s Ad Revenue is Legitimate? and other interesting subjects concerning Economy at TheDailyNewsReport.com

IBM revenue falls short of expectations, shares fall

Visitors walk past the IBM booth at the 9th China International Software Product & Information Service Expo in Nanjing, Jiangsu province September 6, 2013.

Credit: Reuters/China Daily

Reuters: Top News

IBM revenue falls short of expectations, shares fall

VIDEO: How Will Cisco"s Slowdown Affect the Tech Sector?

Cisco, the Silicon Valley network-equipment giant, reported revenue rose just 1.8% in its first fiscal quarter, compared with its projection of 3% to 5% growth. Dan Gallagher looks at the surprise numbers and how the grim report affects the tech sector.

Thanks for checking us out. Please take a look at the rest of our videos and articles.

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VIDEO: How Will Cisco"s Slowdown Affect the Tech Sector?

JP Morgan, Citi win bigger share of investment banking revenue

JP Morgan, Citi win bigger share of investment banking revenue
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/a8915__?m=02&d=20131114&t=2&i=811863070&w=460&fh=&fw=&ll=&pl=&r=CBRE9AD1BR900.jpg

LONDON Thu Nov 14, 2013 12:14pm EST

Traders work at the post that trades JP Morgan on the floor of the New York Stock Exchange May 11, 2012.

Credit: Reuters/Brendan McDermid

LONDON (Reuters) – U.S. investment banks JPMorgan Chase & Co and Citi saw their share of investment banking revenue increase more than any of their peers in the first nine months of the year, new research showed on Thursday.

Among the 13 investment banks tracked by research firm Tricumen, JP Morgan and Citi each saw their share of operating revenue rise 0.7 percentage points over the period.

Tricumen partner Darko Kapor said JPMorgan’s performance stemmed from continued strength in equity and debt capital markets, which are among its biggest businesses, as well as a strong third quarter in interest rates, foreign exchange, credit and equity derivatives trading, where it outpaced most peers.

Year-to-date, JPMorgan earned the most from capital markets, making operating revenue of $ 19.5 billion, ahead of Goldman Sachs and Citi, which made $ 17.9 billion and $ 15 billion respectively, a Tricumen ranking showed.

The report will be welcome news to JPMorgan, which last month posted its first quarterly loss under Chief Executive Jamie Dimon, and faces over a dozen legal probes globally.

Tricumen said Citi’s gains stemmed from the resilience of its fixed income, currency and commodities (FICC) trading revenues, an area where many of its competitors saw revenues battered in the third quarter.

Britain-based Tricumen tracks data from Bank of America Merrill Lynch, Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Royal Bank of Scotland, Societe Generale and UBS.

French bank Societe Generale also saw its share of revenue increase by 0.7 percentage points, though it remains a much smaller player than its peers.

Kapor said SocGen has been increasing its revenue share throughout the year through its activities in debt capital markets, where it seems to have found a way to increase or at least maintain margin.

Goldman Sachs was among the biggest losers, seeing its share of revenue drop by 0.7 percentage points after a tough third quarter, according to Tricumen.

Revenue from FICC trading for clients, one of Goldman’s biggest businesses, tumbled 47 percent in the quarter, Goldman reported in October.

Switzerland’s UBS, however, was the worst performer. Its share of revenue slipped 1.1 percentage points due its pull back from FICC.

Separately on Thursday, research by analytics firm Coalition forecast revenue at the top 10 global investment banks to decline by 5 percent to $ 151.7 billion in 2013 due to weak returns from FICC activities.

FICC revenues are expected to fall 20 percent year-on-year to $ 73.6 billion after a decline in institutional client activity, the absence of another European Central Bank long-term refinancing operation (LTRO) and bankers holding off trading in anticipation of interest rates rises, Coalition said.

Equities, however, are forecast to deliver their best return since 2010, with revenues up 22 percent year-on-year at $ 40.9 billion, while investment banking will see revenues rise 10 percent to $ 37.2 billion, Coalition’s report showed.

Coalition includes data from Bank of America Merrill Lynch, Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and UBS.

(Reporting by Clare Hutchison; Editing by Mark Potter)

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Reuters: Business News

Read more about JP Morgan, Citi win bigger share of investment banking revenue and other interesting subjects concerning Business at TheDailyNewsReport.com

Tax take is down: OK general revenue collections drop 10 percent in August

BEARER OF GLAD TIDINGS: Oklahoma state government tax revenues subject to appropriation were down in August, Finance Secretary Preston Doerflinger reports. The decline resulted from taxpayers accessing exemptions and credits allowed under state law, Tax Commission analysis showed.

By Patrick B. McGuigan | Oklahoma Watchdog

OKLAHOMA CITY — Oklahoma state government tax revenue subject to appropriation (known as general revenue receipts) declined in August, but that’s not a subtle hint of bad news for the economy.

Turns out, taxpayers in the Sooner State accessed exemptions and credits to keep more of their own money.

In his monthly analysis of general revenue fund (GRF) receipts, Secretary of Finance Preston L. Doerflinger said, “This was a single-month collection anomaly rather than any reflection of Oklahoma’s economy. One month does not diminish the strength Oklahoma’s economy has shown for going on three years now.”

Doerflinger and officials at the Oklahoma Tax Commission attributed the dip in direct revenue to reduced income tax collections, which were 27.9 percent ($ 40.2 million) below last year’s level.

Doerflinger stressed the commission “is processing far more corporate and personal income tax refunds at this time of the year than it normally does, which has led to temporary distortions of income tax collections. As a result, the GRF received no corporate income tax collections in August because corporate income tax refunds exceeded corporate income tax collections.”

His staff’s release on the August data continued, “Personal income tax collections fell $ 36.2 million or 25.9 percent from a year ago due in large part to an $ 11 million increase in personal income tax refunds processed compared to the same month a year ago.”

Total revenue for state government from all sources continues to be robust, previous analyses have found. The state has one of the lowest unemployment rates in the nation, at 5.3 percent.

You may contact McGuigan, bureau chief for the Watchdog.org in Oklahoma City, at Patrick@capitolbeatok.com

Please, feel free to “steal our stuff”! Just remember to credit Watchdog.org. Find out more

Watchdog.org

Tax take is down: OK general revenue collections drop 10 percent in August

Xiaomi Nets $2.16B In First Half Of 2013, Beating Its Entire 2012 Revenue

Android handset and OS maker Xiaomi sold 7.03 million handsets in the first half of 2013, the company announced today. Over that period, the Beijing-based startup made RMB 13.27 billion (about $ 2.16 billion) in revenue.

Xiaomi’s latest figures means it sold almost the same number of phones in the first half of 2013 as it did in all of 2012 and made more than double the amount of revenue in the first half of 2013 as the $ 957.46 million it netted in the corresponding period a year ago. The company did not reveal its profits, but investor Hans Tung, a partner at Qiming Venture Partners, has said in reports that Xiaomi makes about 10% profit on its handsets.

Lei has said that Xiaomi expects to double sales to 15 million phones in 2013, bringing the company $ 4.5 billion in revenue, and it looks like the startup is on its way to meeting that target.

Xiaomi was founded three years ago by Lei, an angel investor and serial entrepreneur who founded companies like Amazon-acquired Joyo.cn and YY, which had its IPO in November.

The company depends on a novel marketing model to boost sales. Xiaomi sold 72% of its phones directly through its online store last year, allowing it to bypass the costs of operating brick-and-mortar locations. Phones are made available in batches of 200,000 to 300,000 on Xiaomi’s Web site and sometimes sell out in less than an hour. (The company has been accused of deliberately underproducing in order to create hype for its phones, but Lei says that Xiaomi produces to demand in order to avoid wasting resources).

Xiaomi is also able to keep its costs down by inviting customers to help design phones. Every week, the startup releases a new version of miUI, its customized Android skin, which is then scrutinized by a few hundred thousand hardcore fans. This allows Xiaomi offer its handsets for relatively low prices: their two handsets sell for just 1999 RMB ($ 326) and 1499 RMB ($ 245).

While Xiaomi’s sales figures are living up to the company’s hype from a consumer perspective, Kim-mai Cutler noted in May that the startup has yet to deliver on high expectations. For example, Xiaomi still has to prove that it can monetize software services, an arena in which it has to compete against giants like Alibaba and Tencent.

Xiamo is expected to revamp its two models, the Mi2S and Mi2A, this summer, and there is speculation that it will launch a Smart TV at its annual conference on August 16.

Xiaomi Tech a mobile phone application developer and portal provider was founded in April 2010. The company focuses on iPhone and Android smartphone software development. They have released Xiaomi Chat , Xiaomi Reading, Xiaomi Share, Xiaomi Driver and Millet Notes. The company has also released its own phone the MIUI mobile phone.

→ Learn more

TechCrunch

Xiaomi Nets $2.16B In First Half Of 2013, Beating Its Entire 2012 Revenue

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan

UPDATE 2-California revenue surges ahead of revised budget plan

Wed May 8, 2013 1:38pm EDT

SAN FRANCISCO May 8 (Reuters) – California collected $ 15.03 billion in revenue in April, putting the state’s fiscal year to date revenue at $ 4.6 billion above the estimates in Governor Jerry Brown’s initial budget plan, the state controller’s office said on Wednesday.

Overall revenue in April missed the budget estimate by $ 119.9 million, but was up $ 5.4 billion from the same month a year earlier – an increase of 55.9 percent – propelled by rising incomes and consumer spending, the controller’s office said in a report.

“On balance, California’s fiscal health has improved materially and the state is beginning to turn the corner,” it said.

The report came a week ahead of Brown’s expected release of his revised budget plan for the state’s fiscal year beginning in July. The new plan will incorporate the latest revenue information.

In his initial plan, Brown projected deficit-prone California’s budget could swing to surpluses as the economy improves and if lawmakers support his efforts to restrain spending.

State and independent budget analysts have also been expecting the most populous U.S. state’s revenue to improve after voters in November approved a measure pushed by Brown to raise the state’s sales tax and personal income tax rates, retroactive to last year, on wealthy taxpayers.

Additionally, federal income tax changes that went into effect in January may have spurred many California taxpayers to sell investments last year. Meanwhile, the rising stock market may also be propelling capital gains revenue for the state.

Personal income taxes are California’s most important source of revenue and the state has historically relied on its wealthy taxpayers to provide the lion’s share of those taxes.

Following Brown’s initial budget plan, Standard & Poor’s upgraded its rating on $ 73.1 billion of California’s general obligation bonds by one notch to A from A-minus.

The rating actions in part reflected California’s improving finances and projected balanced budgets.

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Reuters: Bonds News

UPDATE 2-California revenue surges ahead of revised budget plan