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.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (73286)	4/22/2010 5:12:19 PM
From: KyrosL	Read Replies (2) \| Respond to of 74559

Haim, California is in much better shape than Greece, in spite all the hand wringing in SI. First, California is not threatened by civil insurrection, if it cuts state workers' jobs or salaries. CA state workers don't have guaranteed lifetime employment, like Greek civil servants do. Second, California is quite efficient at collecting taxes, unlike Greece. It can collect lots of extra taxes simply by repealing Proposition 13, which has frozen the taxes of numerous very expensive homes at ridiculously low levels. Third, California has a thriving economy other than housing or tourism. Think Google, Apple, Microsoft, etc. The big problem in California is dysfunctional government and very dysfunctional governing rules. And the unholy alliance between state workers' unions and state politicians. People slowly start figuring this out. Look at New Jersey, as an example.