California unemployment rises to 5.5%, worst in the U.S. as tech falters

Re:California unemployment rises to 5.5%, worst in the U.S. ... by vondur on Friday August 15, 2025 @09:09PM (#44919084)

California’s economy feels like it’s running on tech companies at this point. Any downturn in their hiring has really big effects on the California state budget.

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Re:California unemployment rises to 5.5%, worst in the U.S. ... by heavyset_go on Friday August 15, 2025 @09:35PM (#44919274)

That's the downside of depending on regressive income taxes instead of taxing assets, capital gains, dividends, etc sufficiently.

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Re:California unemployment rises to 5.5%, worst in the U.S. ... by wskinner on Friday August 15, 2025 @10:11PM (#44919516)

California has the most progressive taxation scheme of any state. Dividends and capital gains are taxed as income. I’m curious what you would consider “sufficient” taxation - the top marginal combined rate for a Californian is over 50%.

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Re:California unemployment rises to 5.5%, worst in the U.S. ... by vondur on Friday August 15, 2025 @09:47PM (#44919350)

I think California had the highest capital gains tax in the US.

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Re:California unemployment rises to 5.5%, worst in the U.S. ... by Ericson2314 on Saturday August 16, 2025 @01:29AM (#44920457)

What it needs is more property tax aga, or better yet, land value tax.

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