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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Chuca Marsh who wrote (33985)9/2/1998 10:44:00 PM
From: Bill Jackson  Read Replies (1) of 35569
 
Chuca, You are lucky, In the USA states are forbidden to have deficits. Any planned expenditure must come from available cash or it must be voted as a bond issue(ususally tax free) so that investors can look at the project and decide.
In canada we have states(we call them provinces) with their own debts and they in turn have agencies with debts that do not show on state debt. We need a no state debt law. Canada has been ruined for 200 years by crooked politicians and a non representative system. After all we are quite close to the USA all along the border so we should be similar. In fact we have about 25% of the free disposable income of an American of similar wages. You take a Canadian with 60,000 US$ income . He will be in the 50%+ bracket so he will have under $30,000 to live on.
the American will be in around 33% and so will have about $40,000 to live on. The canadin will have a cost to live of $25,000 and the American will have a cost to live of about $20,000. As you can see the Canadian has $5000 excess disposable income and the American has $20,000. That is why the US runs it's place better. What Joe says is quite correct. we have a bad system here.

That excess disposable income buys stocks, cars, etc.

Bill
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