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Politics : IMPEACH GRAY DAVIS!
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To: Lazarus_Long who wrote (892)8/20/2003 11:04:20 PM
From: Lizzie Tudor  Read Replies (1) of 1641
 
I think the state will default actually, I take it you haven't seen the budget. 98 billion in expenditures and about 70 billion in receipts.

On the Real estate thread the people like you want to "cut waste". No responses when I ask how to do that, considering medical premiums are up 40% from where they were when the budget was in range to what they want. It really has never occurred to those people that services especially healthcare have escalated to levels that cannot be rolled back. Pathetic really. But anyway I doubt Bustamante wins, you just want to believe that Buffett is some sort of huge liability when most of the state knows he is right, there aren't that many people benefitting from that screwy law, although they are likely to vote, but it won't matter anyway because there is no way to make the budget numbers work without overturning it.

The thing is, tech jobs and the stock market were driving the state. Both receipts are gone for good. There are less tech jobs in this state going forward than the early 90s, the outsourcers don't pay CA taxes. And the stock market isn't going to generate gains for years due to all the accrued cap losses. So no way to make the numbers work, prop 13 has to go. Probably raise taxes on those people paying 2K/year (or less) on million dollar homes or something.
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