The juxtaposition is a stretch but it does emphasize the trouble California is in. And since California traditionally has been the mine canary for the rest of the country, it also points to the troubles to come elsewhere in the U.S. It has been pointed out again and again that we need to move on two fronts to get our financial house in order: we have to reduce our governmental expenses to the point where we can afford them and we have to raise taxes -and progressively so- on all those having a middle class income or more. Income should be defined as "earned" and "unearned." A top tax rate of 65% seems about right. And, of course, there needs to be a vigorous review of tax loopholes. Lets eliminate as many as possible.
The juxtaposition is a stretch but it does emphasize the trouble California is in. And since California traditionally has been the mine canary for the rest of the country, it also points to the troubles to come elsewhere in the U.S. It has been pointed out again and again that we need to move on two fronts to get our financial house in order: we have to reduce our governmental expenses to the point where we can afford them and we have to raise taxes -and progressively so- on all those having a middle class income or more. Income should be defined as "earned" and "unearned." A top tax rate of 65% seems about right. And, of course, there needs to be a vigorous review of tax loopholes. Lets eliminate as many as possible.
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