OT: Estimated state budget deficit reaches $25.4 billion

[NotCranky]

This backlash against spoiled rotten, fraud perpetuating, protected classes of workers is part of every recession.They are bailed out through it, as much as wall street is. It will go away if there is recovery, if not, perhaps justice will finally start to prevail.

[Zeitgeist]

I do not think the Feds will let this State go bankrupt, but once they run out of money, since unlike the Feds. Cali does not print its own money, then the fun will start. When Cali starts issuing I.O.U.s and people start rioting because they are not getting their entitlements, the Feds will step in, then it will really unravel. Wait for the fireworks.

BTW Econ. Pro, if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.

[Zeitgeist]

I do not think the Feds will let this State go bankrupt, but once they run out of money, since unlike the Feds. Cali does not print its own money, then the fun will start. When Cali starts issuing I.O.U.s and people start rioting because they are not getting their entitlements, the Feds will step in, then it will really unravel. Wait for the fireworks.

BTW Econ. Pro, if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.

[Zeitgeist]

I do not think the Feds will let this State go bankrupt, but once they run out of money, since unlike the Feds. Cali does not print its own money, then the fun will start. When Cali starts issuing I.O.U.s and people start rioting because they are not getting their entitlements, the Feds will step in, then it will really unravel. Wait for the fireworks.

BTW Econ. Pro, if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.

[Zeitgeist]

I do not think the Feds will let this State go bankrupt, but once they run out of money, since unlike the Feds. Cali does not print its own money, then the fun will start. When Cali starts issuing I.O.U.s and people start rioting because they are not getting their entitlements, the Feds will step in, then it will really unravel. Wait for the fireworks.

BTW Econ. Pro, if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.

[Zeitgeist]

I do not think the Feds will let this State go bankrupt, but once they run out of money, since unlike the Feds. Cali does not print its own money, then the fun will start. When Cali starts issuing I.O.U.s and people start rioting because they are not getting their entitlements, the Feds will step in, then it will really unravel. Wait for the fireworks.

BTW Econ. Pro, if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.

[bearishgurl]

[quote=Zeitgeist] . . . if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.[/quote]

That’s the $64M question, Zeigeist!!

Absolutely LUV this thread. Couldn’t have stated ANY of these views better myself!

[bearishgurl]

[quote=Zeitgeist] . . . if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.[/quote]

That’s the $64M question, Zeigeist!!

Absolutely LUV this thread. Couldn’t have stated ANY of these views better myself!

[bearishgurl]

[quote=Zeitgeist] . . . if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.[/quote]

That’s the $64M question, Zeigeist!!

Absolutely LUV this thread. Couldn’t have stated ANY of these views better myself!

[bearishgurl]

[quote=Zeitgeist] . . . if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.[/quote]

That’s the $64M question, Zeigeist!!

Absolutely LUV this thread. Couldn’t have stated ANY of these views better myself!

[bearishgurl]

[quote=Zeitgeist] . . . if you were going to move where would you go? I ask because even though some of the other States do not have income tax or it is far lower, many of them do not have Prop. 13 so you could potentially get tax increases every year as a home owner, so all things considered what is the most middle class tax payer friendly State in your estimation? I will hang up now and take the answer off the air. Thanks.[/quote]

That’s the $64M question, Zeigeist!!

Absolutely LUV this thread. Couldn’t have stated ANY of these views better myself!

[bubba99]

Success in government as in business is measured by growth. Success in Politics is measured by being elected.

To get elected, both Dems and Reps make concessions to large voting groups – like state workers. State workers are paid well to elect their friends.

25 billion shortfall on a 85 billion in revenue is unsustainable/insane. They have kicked the can down the road for too long.

The current system can’t succeed, and can’t change.

[bubba99]

Success in government as in business is measured by growth. Success in Politics is measured by being elected.

To get elected, both Dems and Reps make concessions to large voting groups – like state workers. State workers are paid well to elect their friends.

25 billion shortfall on a 85 billion in revenue is unsustainable/insane. They have kicked the can down the road for too long.

The current system can’t succeed, and can’t change.

[bubba99]

Success in government as in business is measured by growth. Success in Politics is measured by being elected.

To get elected, both Dems and Reps make concessions to large voting groups – like state workers. State workers are paid well to elect their friends.

25 billion shortfall on a 85 billion in revenue is unsustainable/insane. They have kicked the can down the road for too long.

The current system can’t succeed, and can’t change.

[bubba99]

Success in government as in business is measured by growth. Success in Politics is measured by being elected.

To get elected, both Dems and Reps make concessions to large voting groups – like state workers. State workers are paid well to elect their friends.

25 billion shortfall on a 85 billion in revenue is unsustainable/insane. They have kicked the can down the road for too long.

The current system can’t succeed, and can’t change.

[Author]

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