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RE: You can tell the United States is in a boom by looking at state tax revenue

in #busy • 6 years ago

Banking profits were down that year.

Basically New York is dependent on the banking industry, California on tech and Texas on oil. If any of those industries has a downturn, tax revenue turns down.

6 years ago in #busy by
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     6 years ago  

    This is the danger of being odominated by a single industry.

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     6 years ago  

    To be fair, California has more than one industry. The tech stuff, the holywood stuff and agriculture.