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California's Default Is Certain

The idea that the US poor is poorer than other nations has been proven false by a study that the poor live better than the average person in Sweden. Any study measuring wealth is flawed since can't measure asset value in terms of primary homes and assets in foreign countries (illegals) black market incomes, debt levels (college loans) market value of farms and houses, trust funds, options, and public pensions due the individual (should be measure like trust funds), and part time salaries. This same bias methodology in measuring the 40 million "uninsured".

Your argument that high seven digit incomes has no support statistically. You could do an immediate asset tax of 50% of the every millionaire and you wouldn't come close to closing the gap even for a month. Show us the numbers of how the capital will stay in place for this new asset tax and show us how it will close the gap not just this year but as a sustainable revenue stream.
Why is this idea of rich so hard to determine before the elections it was indicated as over 250k in income but most deductions phase out after 150k.

The idea under liberal rules is that this wealth can be regenerated in a few years - when it sometimes takes generations of low taxes. The wealth- what is left - flees empowering the labor party even more- maybe this is Canada? With the productive savings element gone the disparity decreases and the poor become even more government dependant and poorer. I believe I saw after 40 years of reducing disparity in Cuba that the leader was listed as one of the wealthiest people in the world. Did Russian after 40 years reduce disparity or are they left with no middle class?

What ever happened to not taxing dividends (have the workers of companies get more return for their labor) and having interest payments on debt not tax deductable? Who will crush this idea- liberals. Why are we promoting massive debt at corp levels and presonal levels? Why do colleges extends loans that cannot be repaid? Why is the housing market similar to the 1929 stock ownership plan with 10% down and massive debt?

California wages, public pensions and housing markets are very highly priced - the equity that people have pulled from there is enormous. It is time to end the disparity in Calif. vs the rest of the states and have their asset prices and program costs equal to the rest of the average prices in the remaining states.

It is time to end the enormous wealth gap created in Calif as opposed to the other states and make them pay and not slip out due to the political importance of Calif to the Democrat party.



On Jun 28 03:11 PM Buckoux wrote:

> Sounds like you've got a real bad case of class envy, Jeff.