California on the Verge Bankruptcy - GoFuckYourself.com

TheSenator · 05-18-2009, 09:44 AM

If California goes down what will happen?

Do the other states bail them out?

Do they get a loan from another country?

I pay enough in taxes here in New Jersey and we have enough problems here.

How are you Californians gonna vote?

URL Source: http://crippy.me/2009/05/15/californ...y.aspx?ref=rss
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California taxpayers are revolting and the state could be on the verge of bankruptcy. On May 19, Californians will go to the polls to vote on six propositions that deal with the tax code. All six must pass in order for $14 billion in tax hikes to take effect. Polls suggest however, that five of the six propositions will be defeated.

From Lew Rockwell's blog:

If any of the five fail, the budget package must go back to the legislature. The fiscal year begins on July 1. There is not much time to come up with a solution.

The polls indicate that five of the six will fail. Only one is assured of passage. That one specifies that if the state runs a deficit, there will be no pay raises for legislators in that fiscal year. That proposition is on the ballot only because the vote-switching Republican made it a condition of his vote to raise taxes. Their pay is $116,000 a year, plus $170 a day for expenses. Frozen? The horror!

The governor has been on the road across the state promoting yes votes on these propositions. Yet, back in 1990, he sat in front of the cameras and did a promotional for Milton Friedman's PBS TV series, "Free to Choose." His rhetoric was libertarian.

If the propositions fail and the legislature cannot come up with another plan, California could be only months away from bankruptcy. Unless of course he federal government bails them out.

This is why I think Nancy Pelosi (D-San Francisco) will attempt to push a bailout bill through the House of Representatives when California's voters turn down the budget. If she is successful, then a new precedent is set. The U.S. government becomes the lender of last resort to state governments that are faced with a taxpayer revolt.

A federal bailout would mean that taxpayers in all states will be forced to pay for California's unsustainable, welfare state.

God help us!
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ztik · 05-18-2009, 10:16 AM

Stop spending.. Problem solved

PurrrsianPussyKat · 05-18-2009, 10:18 AM

If the gov't "bails out" california, there's going to be 49 other states in line right behind them with their hand out.

crockett · 05-18-2009, 10:27 AM

Actually there are many states that live on hand out from the govt.. Alaska for instance doesn't have any sort of state tax or sales tax and the govt pays them over $2 for every dollar they pay in to the Feds.

Cali gets back less than they pay in, meaning even if the govt bailed them out they wouldn't be a leech like Alaska is on tax dollars and many of the other states that can't support their budgets with out federal funds.

baddog · 05-18-2009, 10:40 AM

Funny, they sent me a grand the other day. Guess they are paying the citizens off first.

CyberHustler · 05-18-2009, 10:45 AM

Legalize it... problem solved.

TheSenator · 05-18-2009, 10:57 AM

Quote:

Originally Posted by CyberHustler

Legalize it... problem solved.

That is so true.

DWB · 05-18-2009, 10:58 AM

Quote:

Originally Posted by CyberHustler

Legalize it... problem solved.

+ 1

Rochard · 05-18-2009, 12:32 PM

Whatever with California. When the housing market went through the roof, what did they do with all of the property taxes they collected? Now that the value of houses are half of what they were last year, they'll be collecting even a lot less. We are so fucked it isn't even funny.

F-U-Jimmy · 05-18-2009, 12:43 PM

Quote:

Originally Posted by Rochard

Whatever with California. When the housing market went through the roof, what did they do with all of the property taxes they collected? Now that the value of houses are half of what they were last year, they'll be collecting even a lot less. We are so fucked it isn't even funny.

I think that is wishful thinking ? One of my houses lost 50% in value last year yet they still demand the same rate of tax. Im effectively paying double tax. I requested a new valuation 6 months ago and so far nada, not a fucking word

Sly · 05-18-2009, 12:52 PM

Quote:

Originally Posted by PurrrsianPussyKat

If the gov't "bails out" california, there's going to be 49 other states in line right behind them with their hand out.

I see it more like... if the federal government "bails out" California, there is going to be 49 other states in line to revolt.

Sly · 05-18-2009, 12:54 PM

Quote:

Originally Posted by Rochard

Whatever with California. When the housing market went through the roof, what did they do with all of the property taxes they collected? Now that the value of houses are half of what they were last year, they'll be collecting even a lot less. We are so fucked it isn't even funny.

Politicians have no problem spending "windfalls" on new programs as opposed to fixing the programs they already have. :-)

05-18-2009, 09:44 AM	#1
TheSenator Too lazy to set a custom title Industry Role: Join Date: Feb 2003 Location: NJ Posts: 13,332	California on the Verge Bankruptcy If California goes down what will happen? Do the other states bail them out? Do they get a loan from another country? I pay enough in taxes here in New Jersey and we have enough problems here. How are you Californians gonna vote? URL Source: http://crippy.me/2009/05/15/californ...y.aspx?ref=rss ================================================ California taxpayers are revolting and the state could be on the verge of bankruptcy. On May 19, Californians will go to the polls to vote on six propositions that deal with the tax code. All six must pass in order for $14 billion in tax hikes to take effect. Polls suggest however, that five of the six propositions will be defeated. From Lew Rockwell's blog: If any of the five fail, the budget package must go back to the legislature. The fiscal year begins on July 1. There is not much time to come up with a solution. The polls indicate that five of the six will fail. Only one is assured of passage. That one specifies that if the state runs a deficit, there will be no pay raises for legislators in that fiscal year. That proposition is on the ballot only because the vote-switching Republican made it a condition of his vote to raise taxes. Their pay is $116,000 a year, plus $170 a day for expenses. Frozen? The horror! The governor has been on the road across the state promoting yes votes on these propositions. Yet, back in 1990, he sat in front of the cameras and did a promotional for Milton Friedman's PBS TV series, "Free to Choose." His rhetoric was libertarian. If the propositions fail and the legislature cannot come up with another plan, California could be only months away from bankruptcy. Unless of course he federal government bails them out. This is why I think Nancy Pelosi (D-San Francisco) will attempt to push a bailout bill through the House of Representatives when California's voters turn down the budget. If she is successful, then a new precedent is set. The U.S. government becomes the lender of last resort to state governments that are faced with a taxpayer revolt. A federal bailout would mean that taxpayers in all states will be forced to pay for California's unsustainable, welfare state. God help us! ================================================ __________________ ISeekGirls.com since 2005

05-18-2009, 10:16 AM	#2
ztik Confirmed User Industry Role: Join Date: Aug 2001 Location: Nomad Posts: 5,196	Stop spending.. Problem solved __________________ .

05-18-2009, 10:18 AM	#3
PurrrsianPussyKat Confirmed User Join Date: Jan 2004 Location: Lost in the mountains Posts: 2,088	If the gov't "bails out" california, there's going to be 49 other states in line right behind them with their hand out. __________________ Need a reliable, reasonably priced php programmer? Hit me up! 2934409

05-18-2009, 10:27 AM	#4
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	Actually there are many states that live on hand out from the govt.. Alaska for instance doesn't have any sort of state tax or sales tax and the govt pays them over $2 for every dollar they pay in to the Feds. Cali gets back less than they pay in, meaning even if the govt bailed them out they wouldn't be a leech like Alaska is on tax dollars and many of the other states that can't support their budgets with out federal funds. __________________ In November, you can vote for America's next president or its first dictator.

05-18-2009, 12:32 PM	#9
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,300	Whatever with California. When the housing market went through the roof, what did they do with all of the property taxes they collected? Now that the value of houses are half of what they were last year, they'll be collecting even a lot less. We are so fucked it isn't even funny. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

05-18-2009, 10:40 AM	#5
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	Funny, they sent me a grand the other day. Guess they are paying the citizens off first.

05-18-2009, 10:45 AM	#6
CyberHustler Unregistered Abuser Industry Role: Join Date: Feb 2006 Posts: 25,456	Legalize it... problem solved.