Good post. Ocean front property in Cali are making new highs, so it's not bad everywhere. You also make another valid observation. The only ones whining about California are trailer monkey trash living in some southern sh*t hole. For some unknown reason, these illiterate trailer monkeys think they're all re-known economists.
California's economy is comparable to EU nations in GDP, it's too big to fail... until the bailout money runs out... There are a few ballot measures to raise taxes and one to stop pay raises for legislators in years with a deficit. The only one that is winning is the one regarding the pay raises... voters vote themselves largess from government but vote against tax increases.. there is a disconnect in their thinking there. That is why I support only one form of taxation, direct consumption tax. That form of taxation allows the voter to make a direct and simple connection between bigger govt and higher tax costs and additionally it taxes everybody that goes to a store, illegals, other criminals of all stripe, they all consume something, they all don't pay income taxes... the only way to get your tax money out of them is at the point of sale terminal......
It is odd they have not protested against Obama for his continuation in Iraq and the increasing troop levels and spending on the war in Afghanistan. Afghanistan is a war we cannot win. If Obama stays committed it will be his undoing. Many have tried over the centuries, only to end in failure.
Southern shit holes...lol Dude, I see what Socal has become. You drive on the freeways there and it looks like a freaking 3rd world country. Come to the south were you can own (and I do) a 3,000 sq ft home for $300-350k. What does that get you in socal or bay area?.... Not much. The women in Cali are overrated. The weather is not. There are lots of smart, talented people there, but I don't think I should have to bail you guys out with my tax dollard because your politicians can't stop promising free stuff. Also, it's renown not RE-KNOWN........ http://englishplus.com/grammar/00000251.htm You probably want to get your vocabulary down when calling people illiterate.
I don't support the consumption tax because people who have savings saved up from after tax dollars over the years are now going to have to pay tax on it again when they spend it. The solution is to too cut government in half and make everyone pay something. Half don't pay anything now.
A re-known economist is one you used to know that you just rediscovered.......kind of like a re-known illiterate trailer monkey. LOL....Stosh
How about direct purchase tax on Big Macs, alchohol, junk food, and gas legalise drugs and tax them too - why should the criminals get rich on illegal drugs
Amen. And set free all non-violent drug offenders! Man oh man, talk about saving money. Then you could keep the same number of cops on the street with the money you saved firing 1/4 of state prison employees.
That's the "difficult period of adjustment" argument.. it's the first, and benign appearing argument by those that really want progressive taxation... Ok, simple solution: phase in consumption tax and phase out progressive income taxation... then, after the period of adjustment is past the state will shrink because everybody from crack heads buying wine to wealthy people buying Lambos will be bitching about the tax... lots of people have their savings in tax deferred retirement accounts anyhow, they have to pay taxes to take money out, they can't claim legitimately they will be affected... We are half way there in California currently, big sales taxes and property taxes under Prop 13 can be trivial, I have two properties, one was last adjusted for taxes in the 70's, the other in the 80's.. buy and hold is the best game for RE in CA... the last piece of the puzzle is to get rid of the income tax and replace it with higher consumption taxes... voters already don't like higher taxes, if they are confronted with the cost of government every time they pony up at the cash register their thinking will change overnight.. the result will be less government and more private sector and a bailout for all involved except the unionized public sector employees and ripoff artist politicians...