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To: steve harris who wrote (59462)	3/11/2004 11:20:51 PM
From: Charles Tutt	Read Replies (1) \| Respond to of 64865

California has now bought into "borrow and spend" Republican voodoo economics. I predict its ultimate demise unless action is taken to reverse the trend. JMHO. Charles Tutt (SM)

To: steve harris who wrote (59462)	3/12/2004 12:43:22 AM
From: Lizzie Tudor	Read Replies (3) \| Respond to of 64865

california is a unique situation and I'm tired of conservatives using it as some sort of whipping boy for liberal tax policy. California has property taxes that are -in total- in the lowest 10% of statewide receipts in the country. This is due to an arcane "tax revolt" law instituted by a typical populist "shift the tax burden to our children" kind of guy in 1978. Howard Jarvis had more in common with Supply side economics than liberalism. The law he created says that for all intents and purposes, once you buy a house in CA, your property tax never gets reassessed. People that bought houses in the 80s never sell and pay nothing in property tax. Warren Buffet pays $2K property tax on a 4 million dollar house here. What this means is that california has to rely on sales taxes and income taxes more than other states and is at the mercy of economic cycles like this one. Liberals did not break california, is the point.