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Politics : President Barack Obama
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To: Bread Upon The Water who wrote (113882)5/17/2012 11:21:06 PM
From: tejek  Read Replies (1) of 149317
 
Modified (regulated) Capitalism for sure.

There's hope for you yet.

Not European style socialism--for me that's too stifling on the individual and gets the state too deep into our personal lives.

There are some very good things [as well as bad] with the Euro system. The US needs to cherry pick.

States can't use federal money to balance their state budgets. Federal money is earmarked for specific programs (highways, Medicaid, Agricultural use/subsidies) in which states must participate to a degree in order to get the funds. But this is not going into a states General Fund for budget balancing purposes.

Turns out Texas was the state that depended the most on those very stimulus funds to plug nearly 97% of its shortfall for fiscal 2010, according to the National Conference of State Legislatures.

money.cnn.com

Individual and Corporate taxes flow to Washington which redistribute them according to political needs and programs, but States as political entities don't contribute to the Federal budget. It's a misperception to suggest such. What the author's of those studies mean is those States economies yield more tax revenue from individuals and corporations.

I never said states contribute as political entities to the federal budget so why are you suggesting I did? Its understood that tax revenues come from the people who live within the state; not the state itself.

And even though Calif's economy yields more gross tax revenue, it doesn't mean it is living within its state political budget. One is not the other (tax revenue to Washington vs State Tax revenue to support state budgets.)

CA has a problem because property taxes were frozen at 1.25% of assessed value and taxes can't be raised without a 2/3's vote. Those laws were passed in the 1970s and since then, CA has doubled in size without a concurrent rise in tax revenues. Its become anorexic even as its one of the wealthiests states in the Union.

BTW those laws were instigated into existence by crazy/cheap wingers.
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