Who have been to previous presentations but for californians. For decades and decades, weve come to expect the unexpected as it regards to the volatility of the tax system. You can see the orange line, those are the big three revenues. It. Looks like an ekg chart. It goes up during good times and down during bad times. It reflects i think the larger narrative of todays presentation and that is a story of correction, a story of normalization after a period of tremendous amounts of distortion. That distortion has been represented in the revenue collection in this state. Take a look at this chart. 10. 4 , that is the year 2000. We have had spikes in the past and revenue. 10. 4 , thats the percentage of our income tax collection Capital Gains. 11. 6 , historically high number represented in 2021. Now a drop. We look at the projections going out to about 5 . Those are remarkable swings in terms of that revenue collection as it relates to Capital Gains on the overall revenue. That said, the
I think we passed out the larger format of the budget people are rummaging through but let me begin as we often do with a slide that has become more and more familiar, not just to those who have been to previous presentations but for californians. For decades and decades, weve come to expect the unexpected as it regards to the volatility of the tax system. You can see the orange line, those are the big three revenues. It. Looks like an ekg chart. It goes up during good times and down during bad times. It reflects i think the larger narrative of todays presentation and that is a story of correction, a story of normalization after a period of tremendous amounts of distortion. That distortion has been represented in the revenue collection in this state. Take a look at this chart. 10. 4 , that is the year 2000. We have had spikes in the past and revenue. 10. 4 , thats the percentage of our income tax collection Capital Gains. 11. 6 , historically high number represented in 2021. Now a drop
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