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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (83566)	8/21/2008 9:56:41 AM
From: Crimson Ghost	Respond to of 116555

Dollar getting smacked badly today. I agree the trend has changed but a shakeout could take the DX down to the 75 area in short order.

To: mishedlo who wrote (83566)	8/21/2008 10:04:21 AM
From: Crimson Ghost	Read Replies (3) \| Respond to of 116555

Why the focus on "overpaid" state and municipal workers? Granted some of them are paid too much but this is like a blip on the radar screen compared to the truly gross overcompensation paid many in the financial industry. Municipal workers generally are just trying to maintain a modest middle class lifestyle. In contrast, the financial elite has all but wrecked the economy in their quest for huge mansions, private jets, armies of servants, etc.

To: mishedlo who wrote (83566)	8/21/2008 11:11:17 AM
From: bullbud	Read Replies (2) \| Respond to of 116555

That's great, but one thing nobody addresses in these "no tax" campaigns....who's gonna collect your garbage, pave the streets, Etc? There are still services we need and that takes MONEY. IMO, what will happen is the salaries will stay the same, but when you call the Highway Patrol for help, the two guys still on staff will not be available. There must be a balance somewhere.

To: mishedlo who wrote (83566)	8/21/2008 2:20:14 PM
From: JimisJim	Respond to of 116555

mish, re: the NV property tax law... it sounds very similar to CA's Prop 13... under prop 13 your home's valuation for tax purposes is set to the price you paid for the property and then, the county automatically adjusts it upward 2%/yr. In my case, I pay about 50% more tax than someone else on the block in similar home because they bought years earlier and locked in a lower tax "valuation." In the SoCal real estate bust of the early-mid 90s, we filed and were granted a lower tax rate/valuation based on the fact that prices had dropped about 25% from what we paid in '91. Our tax rate dropped 25% for several years, until the housing boom here went nuts and the county basically said our house had regained full value and hiked our tax valuation to where it would have been had there never been a bust. As has been pointed out many times, this property tax system is very strange (at least to someone who grew up in the midwest). It is true that it helps prevent people from losing their homes due to housing boom runups in the taxable value of one's home -- esp. the elderly who have lived in the same home for a long time. But in addition to killing the CA educational system, it creates all manner of weird situations in older, established neighborhoods and tax districts (amount of taxes collected by various agencies such as school districts, water districts, etc). Jim