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.

Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Qone0 who wrote (14616)	10/11/2022 2:42:26 PM
From: Kirk ©	Read Replies (1) \| Respond to of 26687

Are you trying to make my point or what???? Very low income workers in CA don't pay much income tax but they do pay sales taxes and some of their rent goes to sales taxes. The majority of taxes collected in CA come from the VERY wealthy who pay 13.3% of income to CA income tax PLUS property taxes on their expensive homes. I have neighbors paying over $50K a year in property tax that helps pay for the education of the "illegal migrants" who live nearby and work in restaurants, etc. so their kids can get a great education paid for by us generous tax payers. My guess is Utah doesn't import as many low income, heavily in need of subsidy (and often illegally here) workers so maybe we should load up some busses and send illegal border crossers to Salt Lake City for care and feeding.

To: Qone0 who wrote (14616)	10/11/2022 2:52:17 PM
From: Kirk ©	Respond to of 26687

and to add to my last post. We in CA are SO GENEROUS with benefits to the low income workers that it removes much of the incentive to make more money over the table. Many will work hard under the table, raise families without getting officially married so they get the single mother benefits, etc... so there are all sorts of incentives to not "officially work" in addition to punishment for working harder. The easiest example at the Federal level is Obama care will pay for almost the full cost of insurance, maybe $1400 a month for low income, elderly workers, but they demand all the subsidy money back if you get a low paying job or work more hours cleaning house at $40/hr and make maybe $40 or $50K a year. THAT is a HEFTY tax to move into a better job or a job not under the table that is recorded as working.