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Old 06-27-2011, 10:53 AM
 
Location: San Diego, California Republic
16,422 posts, read 22,261,217 times
Reputation: 8612

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Quote:
Originally Posted by TimC2462 View Post
Good points. You might be interested in reading articles written by Fareed Zakaria who proposes solutions to get America's economy back on track. A lot of my opinions of late is based on his writings. Here are several worth checking out:

TIME: Fareed Zakaria

TIME: Fareed Zakaria

TIME: Fareed Zakaria

WP: Fareed Zakaria

I suggest following this guy. He isn't a liberal or conservative -- but he is very objective and this guy actually proposes solutions. He makes politicians look silly.

Happy reading.
I actually really respect Fareed Zakaria and have one of his books. The name of it escapes me now.
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Old 06-27-2011, 10:56 AM
 
2,093 posts, read 3,923,243 times
Reputation: 1094
Quote:
Originally Posted by Gentoo View Post
I actually really respect Fareed Zakaria and have one of his books. The name of it escapes me now.
Could be one of these three books: AUTHOR: Fareed Zakaria (http://www.fareedzakaria.com/home/Author.html - broken link)
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Old 06-27-2011, 11:04 AM
 
Location: San Diego, California Republic
16,422 posts, read 22,261,217 times
Reputation: 8612
Quote:
Originally Posted by TimC2462 View Post
Could be one of these three books: AUTHOR: Fareed Zakaria (http://www.fareedzakaria.com/home/Author.html - broken link)
Yep, The Post American World first edition
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Old 06-27-2011, 11:10 AM
 
778 posts, read 1,456,089 times
Reputation: 442
Quote:
Originally Posted by Don9 View Post
"Texas only mildly effected by the housing bubble"

Now why would that be?
- Maybe in Texas the appraisers didn't appraise homes values 5 times higher than actual value
- Maybe Texas would not allow banks to approve people for subprime loans with little or no income and had no way to pay
- Maybe Texas didn't allow predatory realtors and loan brokers to operate in the state

The housing crisis was caused by federal and local governments in collusion with the real estate industry, banks and wall street and they pulled off the greatest heist in history. Look how many people had their wealth swapped for deep debt.
Ironic that in Texas they had tougher regulations on loans and cash out refi's as well as the highest real estate tax rates in the country while in California you have prop 13 keeping real estate taxes low for too many people. The opposite of what you'd think based on red versus blue politics these days but did help save Texas from a housing bubble this time.. Things do cycle remember Texas and the oil patch went through their localized depression in the late 80's also ironically after Reagananomics and oil prices collapsed in another boom/bust bubble period.
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Old 06-27-2011, 12:30 PM
 
Location: Austin Texas
474 posts, read 759,993 times
Reputation: 531
With state taxes its a pick your poison kind of thing. Texas primarily relies on sales taxes, franchise taxes (revenue), and property taxes to pay for government. California seems to tax just about everything, and most of the money goes to Sacramento for allocation. With the exception of some portion of school related property tax from "rich" areas, property taxes are collected locally and spent locally.

Texas property taxes vary between 2-3% of assessed value. But actual property tax amounts are not that high on a national basis because real estate values are lower. New Jersey collects the most property taxes per capita in the US.

I'm not an economist, but the oil related boom/bust that occurred in Texas in the 80s seems unlikely to occur again simply because oil/gas is not as dominant as it was then. Compaq (now HP of course), Dell, BMC Software, etc. didn't exist then. I used to live in Houston in that time and it was very clear that Shell, Texaco, etc. were the dominant companies of the region. That isn't true anymore.
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Old 06-27-2011, 12:44 PM
 
12,825 posts, read 20,051,326 times
Reputation: 10905
The denialists tend to be either big libs, or, people who whistle past the graveyard because they know deep inside CA is turning into the Rust Belt with palm trees.
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Old 06-27-2011, 12:48 PM
 
11,715 posts, read 35,866,188 times
Reputation: 7510
The level of denial here is amazing and nothing will really get fixed until people admit there's a problem. It reminds me of when Ross Perot was running for President the first time. He made some remark about how you could ask a customer, salesman, engineer, or assembly worker what was wrong with GM and they'd rattle off a list. But ask the same question in the executive suite and they'd tell you they made the finest cars in the world.
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Old 06-27-2011, 12:50 PM
 
Location: Texas
43,400 posts, read 52,375,363 times
Reputation: 70370
Quote:
Originally Posted by Ceece View Post
Kind of makes you wonder what people in Texas talked about before CA got into trouble.
How rude and superficial Californians were...LOL!!!!!!!

And I moved her from Cali...totally weirded me out at first that people were actually polite and friendly.
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Old 06-27-2011, 01:12 PM
 
26,579 posts, read 52,030,507 times
Reputation: 20356
Quote:
Originally Posted by JohnVosilla View Post
Ironic that in Texas they had tougher regulations on loans and cash out refi's as well as the highest real estate tax rates in the country while in California you have prop 13 keeping real estate taxes low for too many people. The opposite of what you'd think based on red versus blue politics these days but did help save Texas from a housing bubble this time.. Things do cycle remember Texas and the oil patch went through their localized depression in the late 80's also ironically after Reagananomics and oil prices collapsed in another boom/bust bubble period.
True... CA Prop 13 does add a modicum of predictability to Real Estate Taxes... I wouldn't say my combined rate of over 1.5% is necessarily low...

Most recent tax bill in CA for a 1725 square foot 1957 ranch home in Oakland CA about $9,000...

For this reason... I never really think of CA and low property tax.
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Old 06-27-2011, 01:32 PM
 
Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 7,627,699 times
Reputation: 2622
Quote:
Originally Posted by BayAreaHillbilly View Post
The denialists tend to be either big libs, or, people who whistle past the graveyard because they know deep inside CA is turning into the Rust Belt with palm trees.
Actually, I think what you call denialists are people who have a life, and don't go around whining.
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