Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (451309)	9/1/2003 6:11:02 PM
From: Thomas A Watson	Read Replies (1) \| Respond to of 769667

Well davis was clearly demonstrated to be stupid on the issue of energy. And I seen no information that shows davis was not plain stupid in other areas. I've heard a bout prison guards being able to retire at age 51 and some other sell out stuff. Davis was an idiot an created a budget problem. Now the cost of doing business in CA is driving companies to relocate. I think CA will be in difficult straights for a long time to come and it does not matter who is in charge. There is no quick easy fix. But people suggesting a default is also and idiot identification event cue.

To: Lizzie Tudor who wrote (451309)	9/1/2003 6:24:41 PM
From: DavesM	Read Replies (1) \| Respond to of 769667

Lizzie, You are simply wrong. There are more people working in California, than ever - also more unemployed (July 2003 - 16.6 million employed and 1.2 million unemployed, Jan 2001 - 16.1 million employed and .9 million unemployed). calmis.cahwnet.gov Further, while not exactly having a progressive tax structure, CA is not exactly regressive either. "California has one of the least-regressive state and local tax systems in the nation, thanks largely to its highly progressive income tax, according to a new study by the Institute on Taxation and Economic Policy. The study compares state and local tax systems in all 50 states...Only four states require their richest residents to pay as much of their income in taxes as middle-class families. The least regressive is Delaware, followed by Montana, Vermont and California... The study published last week calculated state and local taxes -- including income, sales, excise and property taxes -- as a percentage of family income for people in various income brackets in each state..." sfgate.com

To: Lizzie Tudor who wrote (451309)	9/1/2003 6:30:19 PM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 769667

Davis's handling of the energy crisis is only part of the reason we are broke. CA, like the US, has a regressive tax policy based on workers. We lose a lot of jobs, as the nation has done, and guess what- we are broke. Its just that simple. Other big states have higher property taxes than CA so they are more insulated from economic shifts. Had Davis handled energy better, we would not be AS broke, but we'd still be broke. I don't think it's quite that simple but you are correct that relying on personal income tax and not as much on property tax has played a part. You might think that would encourage the legislature to not project budgets based on anything but population growth and inflation. I think we would have had a manageable problem if that were the case and not be paying junk bond rates for help from Wall Street. Revenue in CA rose substantially (about 28% over 4 years) and yet the government was able to spend even more. Now Davis is appointing every judge and board member he can to hamstring the future, not that it's a surprise. State worker employment rolls have grown while as you know unemployment claims have risen. Not a good trend. Net ex-migration from CA for the 5 year period 95-2000 is -755,000 which is similar to NY's over -800,000. The major flows from both were to neighboring states. Who do you think is leaving or does it make a difference when you consider it's a brand new trend? census.gov