2009-06-01bloomberg.com

``California is in crisis because state spending is so high that even those hefty taxes aren’t enough to balance the budget... Except for the sales tax, the Obama administration’s plan is to copy California’s policies. ''



Comments:

catherine at 23:42 2009-06-01 said:
who do you think they will pay first, cops and teachers and fireman or municipal bond guys in NY? those are going to be the hard choices shortly.......and this administration by the looks of GM don't really think the money guys should be paid................ Permalink
mahalo guy at 00:21 2009-06-02 said:
A California default may be the template for the Federal Government. At least for use as a trial balloon. Permalink
ronin at 04:15 2009-06-02 said:
The schlock shops in Irvine aren't paying income tax any more. When, because of Prop 13, you can't rely on real estate taxes, that hurts. A lot of 10-year bonds are starting to look like 30-year obligations ... maybe in New York, too. Permalink
tvsterling at 07:45 2009-06-02 said:
The problem with California is the people want the government to do EVERYTHING for them for free. Prop 13 makes it almost impossible to raise taxes or even pass a budget. Everybody is gimmie, gimmie, gimmie but nobody wants to pay for any of it. Permalink
catherine at 14:33 2009-06-02 said:
The problem with California is the people want the government to do EVERYTHING for them for free. Prop 13 makes it almost impossible to raise taxes or even pass a budget. Everybody is gimmie, gimmie, gimmie but nobody wants to pay for any of it.
YOU ARE RIGHT

probably 50% of the state is illegal aliens taking free benefits from the workers, FREE SCHOOL, FREE MEDICAL, FREE FOOD AND HOUSING

NY is the same way and they are falling in the hole second by second

they are sure going to miss the billions in taxes that a company like Lehman brought in over the years ALL GONE

THE RICH ARE GOING TO HAVE TO LEAVE TOO, what did that one business owner say - he can save 5 million to just change his driver's license to Florida ............

people don't understand, THE RICH ARE SICK OF BEING THE GOTO GUYS WHILE THE MESSIAH AND LIBERALS ARE TRASHING THEM.......... Permalink

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