Why Income and TRS are High in SR13 Base (2012) average annual wage is high (in 2014 const $) SR13: $58.9K BEA: $57.5K QCEW: $55.7K SR14: $55.8K Effective average annual wage growth rate is high SR13: 1.31% Driven by external forecast for the US economy

Why Income and TRS are High in SR13 TRS: Total Income is used as base Includes non-money rental value of owner-occupied housing interest on private pension plans, IRA and Keogh dividends The ratio (TRS/Total Income) rises slightly 2012: 29% 2050: 33%

Income and Taxable Retail Sales Total Income (BEA) vs Money Income (ACS, IRS) For the forecast, we will derive money income via a set of multipliers tied to employment and population [Money Income / Total Income] will be a constant ratio Taxable retail sales: constant share of Money Income

CA BOE shows state-wide only Does data on county-level taxable transactions by type of business (NAICS) exist? CA BOE shows state-wide only Motor Vehicles and Parts: 17% Food and Drink Service: 16% Gasoline: 14% General Merchandise: 13% Closing 9% Building Materials: 7% Food Stores: 6% Miscellaneous Retail: 5% Other Combined: 14%