The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ild who wrote (12702)	8/20/2003 2:23:04 PM
From: Elroy Jetson	Read Replies (3) of 306849

Politicians respond to their electorate. Voters only respond to crisis. How bad will the financial problems in California have to get before the voters respond? It's difficult to say - a lot of sacred cows are going to have to get sent to the knackers. While the US may not remain economically healthy, their problems will have little to do with California. California was little affected by Orange County's bankruptcy. I expect a California default to have similar minimal impact on the US. The overall taxation level in California is fairly average. Taxes in California are lower than Massachusetts or Wisconsin and higher than Alabama or Arkansas. From a business perspective California taxes are quite high and unfriendly because they have to pay for an expensive welfare system for property owners. However there are exceptions. Some types of businesses are huge beneficiaries of the real estate welfare system. Take Disney as an example. Their taxes on Disneyland and their studios are extremely low as they are one of the most senior citizens in Orange County, having owned their property the longest.

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