Comments on: Suffering in El Centro. Cigars in Sacramento http://www.debtonation.org/2009/07/suffering-in-el-centro-cigars-in-sacramento/ Wed, 08 Feb 2012 08:39:46 +0000 hourly 1 By: Stimulating California - Smart Taxes Network http://www.debtonation.org/2009/07/suffering-in-el-centro-cigars-in-sacramento/comment-page-1/#comment-1192 Stimulating California - Smart Taxes Network Mon, 20 Jul 2009 15:40:28 +0000 http://debtonation.org/?p=2643#comment-1192 [...] Link to full article [...] [...] Link to full article [...]

]]> By: Carol Wilcox http://www.debtonation.org/2009/07/suffering-in-el-centro-cigars-in-sacramento/comment-page-1/#comment-1184 Carol Wilcox Fri, 17 Jul 2009 13:09:51 +0000 http://debtonation.org/?p=2643#comment-1184 It might have helped the Californian economy if its citizens hadn't voted for Proposition 13 restricting property taxes to 1% of capital value. This would undoubtedly prevent the introduction of a far better substitute: a full annual land value tax based on annual revaluations - a further bonus would be the end of property speculation. Also with LVT established any investment into public infrastructure, as you advocate, Ann, would feed directly into land values and automatically increase the tax-take during recovery. It might have helped the Californian economy if its citizens hadn’t voted for Proposition 13 restricting

property taxes to 1% of capital value. This would undoubtedly prevent the introduction of a far better substitute: a full annual land value tax

based on annual revaluations – a further bonus would be the end of property speculation. Also with LVT established any investment into public

infrastructure, as you advocate, Ann, would feed directly into land values and automatically increase the tax-take during recovery.

]]> By: mark http://www.debtonation.org/2009/07/suffering-in-el-centro-cigars-in-sacramento/comment-page-1/#comment-1177 mark Wed, 15 Jul 2009 16:37:38 +0000 http://debtonation.org/?p=2643#comment-1177 But where does that cycle end? California has been spending more than they take in for years and years. Even when economic times were good, California was a financial train wreck. What you suggest just seems like another temporary stopgap. Maybe it is a necessary stopgap but then what. California has already created it's own currently (IOUs). Stop and think about that. That is staggering. How long before there is a market for the buying/selling and trading of those IOUs. California (and the Federal Govt for that matter) shows no willingness to make hard choices to get themselves back on a sustainable financial footing...it's just fingers in the dyke as new holes pop up. At some point, the bills have to be paid..there are no magic answers. When does someone bite the bullet and make that hard choice. But where does that cycle end? California has been spending more than they take in for years and years. Even when economic times were good,

California was a financial train wreck. What you suggest just seems like another temporary stopgap. Maybe it is a necessary stopgap but then

what.

California has already created it’s own currently (IOUs). Stop and think about that. That is staggering. How long before there is

a market for the buying/selling and trading of those IOUs.

California (and the Federal Govt for that matter) shows no willingness to make

hard choices to get themselves back on a sustainable financial footing…it’s just fingers in the dyke as new holes pop up. At some point, the

bills have to be paid..there are no magic answers. When does someone bite the bullet and make that hard choice.

]]> By: the.Duke.of.URL http://www.debtonation.org/2009/07/suffering-in-el-centro-cigars-in-sacramento/comment-page-1/#comment-1172 the.Duke.of.URL Wed, 15 Jul 2009 10:49:41 +0000 http://debtonation.org/?p=2643#comment-1172 Ann, any sane and sensible person would agree with you. Now, either Arnie is not sane, or he and his supporters have another agenda. I am reminded of Joe Kennedy being able to buy a massive skyscraper in Chicago, possibly the Chicago Buyer's Mart, for $1M when at the time he bought it, it was valued at $8M. How fortunate for him. Arnie was elected during a time of amazingly inept corruption in California. It is one thing to be corrupt, but another to be so bad at it that the voters, who are usually tolerant of it, rise up against the machine. Such ineptitude is a sign of incredible arrogance, stupidity, or both. Like here, the two party system and their respective machines in the US are not working. Unlike here, they do not have proportional representation to fall back on, however remote that possibility seems to be here. In the '30s, some states initiated mortgage foreclosure moratoria. It does not look like this will happen this time. Ann, any sane and sensible person would agree with you. Now, either Arnie is not sane, or he and his supporters have another agenda. I

am reminded of Joe Kennedy being able to buy a massive skyscraper in Chicago, possibly the Chicago Buyer’s Mart, for $1M when at the time he

bought it, it was valued at $8M. How fortunate for him.

Arnie was elected during a time of amazingly inept corruption in California. It is

one thing to be corrupt, but another to be so bad at it that the voters, who are usually tolerant of it, rise up against the machine. Such

ineptitude is a sign of incredible arrogance, stupidity, or both.

Like here, the two party system and their respective machines in the US

are not working. Unlike here, they do not have proportional representation to fall back on, however remote that possibility seems to be here.

In the ’30s, some states initiated mortgage foreclosure moratoria. It does not look like this will happen this time.

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