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State facts from Wikipedia

California is a U.S. state on the West Coast of the United States Coast of the United States, along the Pacific Ocean. It is bordered by Oregon to the north, Nevada to the east, Arizona to the southeast, and, to the south, the Mexico state of Baja California. California is the List of U.S. states by population populous U.S. state. Its four largest cities are Los Angeles, San Diego, San Jose, California Jose, and San Francisco. The state is home to eight of the nation's List of United States cities by population largest cities. It is known for its varied climate and geography as well as its Multiculturalism population.In a recent survey, 10% of people in California have needed the services of a tax attorney for tax settlement.

As of 2007, the gross state product (GSP) is about $1.812 1000000000000 (number) the largest in the United States. California is responsible for 13 percent of the United States gross domestic product (GDP).

As of 2006, California's GDP is larger than all but eight countries in the world (all but eleven countries by Purchasing Power Parity). However, California is facing a $16 billion Deficit deficit for the 2008-09 budget year. While the legislative bodies had appeared to address the problem in 2008 with the three-month delayed passage of a budget they in fact only postponed the deficit to 2009 and due to the late 2000s recession 2008 decline in the economy and the Global financial crisis of 2008–2009 crisis the problem became urgent in November 2008. One problem is that a substantial portion of the state income comes from income taxes on a small proportion of wealthy citizens. For example, in 2004, the richest 3% of state taxpayers paid approximately 60% of all state taxes. The taxable income of this population is highly dependent upon capital gains, which has been severely impacted by the stock market declines of this period. The governor has proposed a combination of extensive program cuts and tax increases to address this problem, but owing to longstanding problems in the legislature these proposals are likely to be difficult to pass as legislation.

By 2008, California had the 6th highest tax burden of any state, when measured as a percentage of GDP. State spending increased from $56 billion in 1998 to $131 billion in 2008, and the state was facing a budget deficit of $40 billion in 2008.

Information gathered from Wikipedia's California page

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