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Don't change the subject -- you were talking how taxing the rich is closing the deficit and maybe upgrade the credit rating. I pointed out that CA's credit rating is the 2nd worst in the country.
Secondly, you need to look at deficits in terms of multiple years, or decades.
Thirdly, let's see how CA actually accomplishes it, rather than showing an "outlook" that some people say "it's fuzzy math."
Largest state in the country, largest economy. Of course it will have deficits. All large states have large deficits. Texas is #3 in budget deficits. It has very little to do with politics. California happens to be smart enough to raise taxes to close the gap, rather than eat up Federal money and drill through your own public school systems (Texas cough).
Quote:
Originally Posted by Henry10
I'll play this obsessive-compulsive game of rich vs the poor. Biggest disparity is in CA or even in our own state, NYS, where Govt is a lunatic.
Oh give me a break. Governor Cuomo has nothing to do with wealth inequality in New York. Wall Street and NYC housing costs are the cause of that (same for California with SoCal and SF Bay).
No buddy, the bigger the city, the higher the wealth inequality. Wealth inequality is highest in big cities. In rural areas, everyone is just poorer. Use some common sense.
You wanted numbers, I gave you numbers. Now you switch to "no, don't give me numbers: it's common sense."
Now, I am not sure what you're even saying anymore, other than generalities.
Quote:
Originally Posted by ErikBEggs
Largest state in the country, largest economy. Of course it will have deficits. All large states have large deficits.
There is a time and place for deficits. The issue is that no one can run deficits in perpetuity. You have to deal with deficits structurally. Not reforming your liabilities, but simply padding taxes on a targeted group of people, especially when your competitors are lowering them -- that puts you at a serious economic disadvantage long-term.
There is a time and place for deficits. The issue is that no one can run deficits in perpetuity. You have to deal with deficits structurally. Not reforming your liabilities, but simply padding taxes on a targeted group of people, especially when your competitors are lowering them -- that puts you at a serious economic disadvantage long-term.
No person can. No business can. However, governments are not people or businesses.
Governments run deficits indefinitely. They always have and always will. That is modern macroeconomics 101. A government deficit is a private sector suprlus. It's just basic double-entry bookkeeping.
You don't scratch your head as to why every state and Federal government runs deficits?
Indefinite deficits? That an ideological position. Here are some numbers of our deficits since the Founding:
There have been plenty of times we have run surpluses.
Not since the Federal Reserve system of 1913. It is very rare. Surpluses are actually not good for the economy. I recommend you read up on modern economics. My statement is not an opinion nor an ideological position; modern governments can and do run deficits perpetually. The Federal government can do so infinitely. State governments like New York are currency users, but they receive Federal aide so it trickles down to them and essentially functions the same way.
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Quote:
Originally Posted by ErikBEggs
The list was for metro areas, not cities. Hence, why Buffalo and Rochester are #1 and #2 in snowiest large (>1 million) metros in the United States.
Again whatever two locations that never seem to make any list of places to live.
Quote:
Originally Posted by ErikBEggs
You mean according to the Tax Foundation.
Numbers are numbers. Are you willing to donate $400 million to the Thruway Authority next year or would you like to raise the gas tax by the proper amount? The choice is yours. You are free to not use the Thruway if you don't want to pay, so I don't understand why you are complaining. The road is not free. I would take it up with New York State and the Federal Government. The only reason the Thruway was incorporated as part of the Interstate Highway System is so the Federal government does not have to fund it.
It really galls you that almost every other highway in this county is free and you continue to pay. We had toll roads also build by the state and not the federal government, but once they were paid off the tolls were removed. Virginia pays to maintain these state highways not the feds.
NY is one of only a handful that is still charging for a road build in the 50's, think it's paid for yet???
I recommend you read up on modern economics. My statement is not an opinion nor an ideological position; modern governments can and do run deficits perpetually. The Federal government can do so infinitely.
Your reading and understanding of economics seems very limited, and totally indoctrinated under an ideology. You can pick any ideology, and you will find thousands of economics books justifying it, often in fact driving this policy.
Same with the neo-marxist ideology you seem to be intoxicated by. Deficit spending is just another, albeit significant, means to pre-meditated ends.
I would also recommend you read up on history of economic systems, rises, falls, calamities, revolutions, wars, etc etc to start get a grasp on what you are advocating, explain to us why are we exempt from laws of economics, and mathematics at large.
These policies have always brought financial ruin to nations and states, never ever they have not brought financial and societal disasters. Enlighten us -- why are we exempt?
When you go to sleep today, know this -- We are one printing press from calamity.
Your reading and understanding of economics seems very limited, and totally indoctrinated under an ideology. You can pick any ideology, and you will find thousands of economics books justifying it, often in fact driving this policy.
Same with the neo-marxist ideology you seem to be intoxicated by. Deficit spending is just another, albeit significant, means to pre-meditated ends.
I would also recommend you read up on history of economic systems, rises, falls, calamities, revolutions, wars, etc etc to start get a grasp on what you are advocating, explain to us why are we exempt from laws of economics, and mathematics at large.
These policies have always brought financial ruin to nations and states, never ever they have not brought financial and societal disasters. Enlighten us -- why are we exempt?
When you go to sleep today, know this -- We are one printing press from calamity.
There is not a single shred of evidence to support that theory.
The biggest factors in economics have and always will be demographics. You can take your deficit scaremongering somewhere else because it has no factual basis.
There is not a single shred of evidence to support that theory.
The biggest factors in economics have and always will be demographics. You can take your deficit scaremongering somewhere else because it has no factual basis.
I already provided historical data that throw your "perpetual deficit" out of the window. The burden is on now you to prove your theory that a Govt can run deficits indefinitely. Keep in mind that our decade of deficits followed a decade of surpluses.
Go ahead, your turn..
Tell us about some facts --- how any Govt, now or in the past has run deficits indefinitely. Don't theoritize about a utopy.
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