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Politics : PRESIDENT GEORGE W. BUSH
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To: Patricia Trinchero who wrote (121153)1/6/2001 8:20:28 PM
From: DavesM  Read Replies (3) of 769667
 
The way CA deregulated electricity in the state was to place a cap on the amount PG and E and SCE could charge customers, and then not let them enter into long term contracts with producers. When the spot rate of electricity spiked, the power companies could not get consumers to decrease their consumption because rates to them (customers) could not be passed through. Since the amount of electrical power the state needs to import (purchase from out of state producers) is probably enough to light the State of Washington (plus maybe Oregon), the losses to the power distributers became big enough, that the banking system in CA is now probably in danger.

As far as Unions, my guess is that the greatest growth in Unions is now in the public sector. Like unionizing University of California TA's. Further, I bet that this country historically has had a large middle class - even before the age of unions. Americans have trouble with class distinctions anyway - we're probably the only people in the world that distinguish class with income.

I have a question: If taxes increase, would a rich business owner
1. Cut back on his/her family's standard of living - move to a smaller house, take the kids out of private school and place them in a public school.

2. Cut back on the number of employees, or employee benefits so that the owner can preserve as much of his/her own standard of living as long as possible.
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