Matthew Rafat

California Legislators Got Drunk on Stock Market Gains

@a fat panda:

Note: the tech bubble's peak was in 2000; hit a low in September 2002; and continued in a tight range until 2007.

I understand your point. Instead of, "when the tech bubble popped," it should be, "right after the tech bubble popped..."

California Legislators Got Drunk on Stock Market Gains

@a fat panda:

Note: the tech bubble

California Dreamin' Over?

Valley Boy: you're putting words in my mouth, so this response will be my final one to you. I'm not saying we shouldn't enforce immigration laws. You have no basis whatsoever for attributing that idea to me.

I'm saying it's impossible and/or unwise to deport illegal immigrants en masse for several reasons. Among these reasons are the following: 1) mass deportation doesn't appear to help the economy (see AZ); and 2) as I explained above, in order to effectively target persons for deportation, we would have to expand police power considerably and, in the process, we would inevitably target native-born Americans of Latino descent.

Bottom line: it makes sense to blame the federal government, not immigrants, if you have issues with border enforcement and/or the immigration system. For the past ten years, Congress has come close to reforming our immigration system and, each time, it has failed.

California Dreamin' Over?

(Sorry, last comment was published before it was finished.)

I didn't mean for this post to become about illegal immigration, but I'm happy to have a short discussion about it.

Valley Boy: two points:

1. I'm not sure why you focus on illegal immigrants instead of our federal government and your own representatives. If the government wanted to close the border, it could do so. I realize it's not easy to completely close the border, but your anger seems misplaced. You're blaming ambitious, poor people who are coming here to make a better life for themselves--just like previous generations of American immigrants--instead of elected representatives who have failed to reform our convoluted immigration system.

2. Let's say you're right, and illegal immigrants are the main cause of California's financial crisis. (I don't agree, but we'll assume this premise for the sake of discussion.) Fine. Now what?

We have millions of illegal immigrants already in California. Do we hire legions of police officers to hunt them down and deport them? If so, how do we identify illegal immigrants without singling out Latino American citizens? How do we effectively identify illegal immigrants without massively expanding police power? Do you want officers to stop people on the street and demand ID? (You know where I'm going with this, don't you? "Show me your papers," etc.)

What's your solution to the so-called problem of illegal immigration? Mine is to reform the immigration laws and system. If anyone's to blame, it's our own government for passing the buck on this serious issue.

What is your solution? If we go by Arizona's approach--raiding employers and penalizing them for failing to check Social Security numbers--it may solve nothing. AZ's finances are in terrible shape even after implementing laws to combat illegal immigration. See here:

www.cbpp.org/cms/?fa=v...

Again, do you have a solution that will fix the problem? If not, aren't you just issuing potentially dangerous barbs at a group of people who lack political representation and political power?

California Dreamin' Over?

Valley Boy: I'm not sure why you focus on illegal immigrants instead of our federal government. If the government wanted to close the border, it could do so. For whatever reason, it

California Dreamin' Over?

James: do you have a citation to support your statement? If so, please share. Regardless of how CalPERS manages its money, it relies on California taxpayers to pay government workers' pensions. Even if CalPERS doesn't manage its fund well, taxpayers are ultimately responsible for government workers' benefits. As Warren Buffett said,

"Whatever pension-cost surprises are in store for shareholders down the road, these jolts will be surpassed many times over by those experienced by taxpayers. Public pension promises are huge and, in many cases, funding is woefully inadequate."

As I've written before, if a voluntary 401(k) or 403(b) plan is good enough for most engineers, nurses, and lawyers, why isn't it acceptable for government workers, firefighters, and police officers?

Valley Boy: the children of the same immigrants you bash will be paying our Social Security and Medicare. If we fail to integrate them into the mainstream economy, expect either a reduction in our Social Security and Medicare benefits or higher taxes for the next generation of Americans, including our children.