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Strategies & Market Trends : The coming US dollar crisis
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To: Skeeter Bug who wrote (21134)7/2/2009 4:17:06 PM
From: GST5 Recommendations  Read Replies (1) of 71454
 
<that has NOTHING to do with prop 13> You dodge the three most obvious problem faced by California First, the existing system is inherently a roller coaster that cannot be tamed as it gyrates wildly from one period of time to the next -- and yes this is directly due to prop 13; and second, the taxes that California uses profoundly penalize income which is just plain stupid and relies heavily on the most regressive of all forms of taxation, the sales tax, and yes this is directly due to prop 13, and third, home prices in California have been tragically distorted in no small part due to prop 13.

Nobody should argue that California is well governed -- but to deny the obscene consequences of prop 13 is just to live in denial.
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