1. 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

5. 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%

6. 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

8. 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%