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Old 02-26-2010, 01:33 PM
 
11,726 posts, read 24,791,195 times
Reputation: 7136

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Quote:
Originally Posted by humboldtrat View Post
If California defaults on its obligations, California will never be able to borrow money again. Who would be stupid enough to loan California money without any promise of getting it back with interest? There would be no point in passing bond issues because the state would not be able to raise the money for them.

Try defaulting on your credit cards, car loan, etc. and see where that gets you.
Plenty of people and organizations have defaulted on loans and managed to get credit again. Its just costly. Are you telling me that there wouldn't be people willing to take a risk on some 15% tax-free California bonds some day in the future? Higher risk requires a higher return and if you raise the return enough, you'll attract people willing to take the risk.
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Old 02-26-2010, 02:37 PM
 
3,408 posts, read 1,664,359 times
Reputation: 1834
Quote:
Originally Posted by jbunniii View Post
Why would anyone pay big bucks for bottled water when they can get it for nearly free from the tap at home? And yet, they do.
OK I see what your trying to say,But the fact that they pay "Big Bucks" for water isn't solving California's problems either is it?
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Old 02-26-2010, 04:34 PM
 
Location: Earth
12,015 posts, read 13,547,947 times
Reputation: 4126
Quote:
Originally Posted by antarez View Post
OK I see what your trying to say,But the fact that they pay "Big Bucks" for water isn't solving California's problems either is it?
California doesn't have a comparative advantage for water (just the opposite) It does for marijuana.

Legalization and taxation of marijuana would help restore California to a better fiscal position - it wouldn't be enough to solve the entire problem but it would help a lot.
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Old 02-26-2010, 05:45 PM
 
Location: Northern California
3,480 posts, read 9,185,815 times
Reputation: 1475
Quote:
Originally Posted by majoun View Post
As long as California keeps marijuana illegal it will be insolvent.
Maybe we could also legalize prostitution while we're at it and tax that. That makes about as much sense as legalizing marijuana.

In the long run, it really doesn't matter. You can't send enough money to Sacramento. Sacramento is a bottomless money pit. Any extra money they get, they'll burn through it right away and the deficit will never go away, but probably get even bigger.
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Old 02-26-2010, 06:03 PM
 
Location: Business ethics is an oxymoron.
931 posts, read 852,993 times
Reputation: 1754
Quote:
Originally Posted by humboldtrat View Post
Sacramento is a bottomless money pit. Any extra money they get, they'll burn through it right away and the deficit will never go away, but probably get even bigger.

True. But as long as the whole world continues to want to move here on account of our 'nice' weather and tasty fish tacos, that won't matter. Just as the money will continue to spiral down the Black Hole, there will be a limitless supply of people to make contributions.
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Old 02-26-2010, 07:09 PM
 
418 posts, read 275,071 times
Reputation: 145
Quote:
Originally Posted by Des-Lab View Post
True. But as long as the whole world continues to want to move here on account of our 'nice' weather and tasty fish tacos, that won't matter. Just as the money will continue to spiral down the Black Hole, there will be a limitless supply of people to make contributions.
Net Domestic Migration CA (2005-2008): -698,364
source (http://mcdc2.missouri.edu/data/popests/Reports/dmig_report_states - broken link)


The only people moving to CA are illegals. Low income earners who DON'T PAY TAXES aren't going to save the California government. Your logic doesn't hold water, otherwise the state wouldn't be so far in the negative.
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Old 02-26-2010, 08:02 PM
 
Location: Earth
12,015 posts, read 13,547,947 times
Reputation: 4126
Quote:
Originally Posted by humboldtrat View Post
Maybe we could also legalize prostitution while we're at it and tax that. That makes about as much sense as legalizing marijuana.
Yes, legalizing both prostitution and marijuana make a great deal of sense.

Perhaps if California wasn't such a nanny state which held a dim view of personal freedom it wouldn't be in such trouble.
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Old 02-26-2010, 08:04 PM
 
Location: Earth
12,015 posts, read 13,547,947 times
Reputation: 4126
Quote:
Originally Posted by crazyfacedjenkins View Post
Net Domestic Migration CA (2005-2008): -698,364
source (http://mcdc2.missouri.edu/data/popests/Reports/dmig_report_states - broken link)


The only people moving to CA are illegals. Low income earners who DON'T PAY TAXES aren't going to save the California government. Your logic doesn't hold water, otherwise the state wouldn't be so far in the negative.
Don't get sarcasm, do you?
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Old 02-28-2010, 07:39 AM
 
185 posts, read 197,072 times
Reputation: 422
I thought the CA legislature wanted to send out "rich" middle class tax payers. They are too independent. They don't beg for government control or think that the highest achievement is government provided jobs and housing. Quite frankly, they aren't as easy to control. So the sooner they are gone, the better. Besides, they are just a bunch of crazy "right wingers" who listen to Limbaugh all day. Who really wants that around.

I hear this all the time, anyone who doesn't like to have their wealth confiscated is some sort of right wing teapartier. I think the false dichotomy of "Democrat" and "Republican" is just used as a distraction to keep the same set of people in power. Sure they are different, and they both just enrich themselves in different ways, but the goal is the same. Right now the far left is more destructive to be sure. I'm just waiting until we can get some good balance. I know, wishful thinking.
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Old 02-28-2010, 09:12 AM
 
Location: Central Coast
2,014 posts, read 3,469,647 times
Reputation: 759
A question, how does the current state of the State of California affect you personally?

To answer the question for myself, the current state of the State of California does not affect me.
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