Capitalism Explained

[bobc455]

Originally Posted by Snax

The bottom line is that CA expenditures have been exceeding revenues for over a decade, and the Republicans in the legislature refuse to do anything other than cut services.

Snax,

Do you happen to know how much of CA's finances go toward social and entitlement programs?

(I don't have any data, I would just speculate that it is a grossly-huge percentage.)

-Bob C.

[bowtieguy]

here are 2 different POVs concerning taxes...
http://www.cbpp.org/cms/?fa=view&id=1032
http://www.cato.org/pub_display.php?pub_id=4201

the truth(correct action) may lie somewhere in between. how can govt continue to recklessly spend and raise taxes? i get it in respect to raising taxes does less damage than cutting services.

i don't think anyone in there right mind would suggest cutting infrastructure type spending. there is WAY too much waste of energy as well as salaries and special interest however. not to mention entitlements and illegals.

after those issues are addressed, then and only then, should tax increases be discussed. IF(and i doubt it) taxes are deemed not enough at present AFTER that, then strategic placement of taxes would be in order.

sin tax, big ticket tax, and emergency/law enforcement tax would be in order. raising the gas tax, sales tax, even the capital gains tax hurt low income earners more than the rich.

am i wrong seeing both views, yet concluding the greatest threat is not being addressed properly AT ANY LEVEL of govt?

[psyshack]

Originally Posted by Snax

I'm not familiar with NY's processes, but I can tell you that without question, allot of CA's problems with revenues has been from Republicans obstructing EVERY SINGLE NECESSAY TAX INCREASE SINCE BEFORE SCHWARZENEGER TOOK OFFICE! The CA budget was already in trouble at that point, but with their legislature requiring a 2/3 majority to pass an increase, NOTHING has gotten done.

The bottom line is that CA expenditures have been exceeding revenues for over a decade, and the Republicans in the legislature refuse to do anything other than cut services.

As it should be.

[shatto]

A scientific paper is only as good as it's references. Others must be able to research and duplicate experiments and, done enough, theory becomes fact.

Regarding the above posted comments, the Book; "Freedom and Tyranny" by Mark Levine, is almost 1/3rd references and explains why taxes are being raised, seemingly beyond logic.

[bowtieguy]

Originally Posted by shatto

"Freedom and Tyranny" by Mark Levine, is almost 1/3rd references and explains why taxes are being raised, seemingly beyond logic.

that book is NY Times Best Seller(#1 @ one point). i hope that equates to votes against the present "tax and spend" congress next session.

[bowtieguy]

here's a suggestion that financial problems are largely the fault of the consumer NOT capitalism!...http://www.mcall.com/business/column...7698936.column

notice the focus on entitlements. hmmm...