1
0

Why California is broke, and Texas is not


 invite response                
2012 Oct 10, 3:30pm   25,541 views  63 comments

by REpro   ➕follow (0)   💰tip   ignore  

http://economy.money.cnn.com/2012/10/10/california-texas-richard-fisher/?iid=HP_River

This coyote may be safe in California but should watch its back in Texas, according to Dallas Fed President Richard Fisher. Dallas Federal Reserve President Richard Fisher is proud of the Texas economy and isn't afraid to let it show.

« First        Comments 52 - 63 of 63        Search these comments

52   REpro   2012 Nov 17, 2:01am  

The petitions for secession from the U.S. filed by Texas, Louisiana, and five other states have collected more than 25,000 signatures each, which the White House website says is enough for review and response.

http://news.msn.com/politics/seven-states-qualify-for-secession-response-from-white-house-3

53   bob2356   2012 Nov 17, 3:47am  

REpro says

The petitions for secession from the U.S. filed by Texas, Louisiana, and five other states have collected more than 25,000 signatures each, which the White House website says is enough for review and response.

http://news.msn.com/politics/seven-states-qualify-for-secession-response-from-white-house-3

Wow, over 100k Texans out of 25 million want to succeed. Oh wait, anyone can sign, not just Texans. So 100k people out of 7 billion people on earth have signed. Msn had a really, really slow news day it looks like.

Check out some of the other petitions, funny stuff. I like the motorcycle riding judges petition.

54   B.A.C.A.H.   2012 Nov 17, 4:03am  

REpro says

I remember times when Connecticut had #1 spot in US economy and was the most desirable state in US. High salary, good benefits, plenty of jobs in manufacturing sector, low cost of housing. Suddenly everything changed when manufacturing sector moved out.

Silicon Valley

Used to be, we exported real stuff to the rest of the USA and the ROW. Now, all we export is IP, and Cool-Aid.

55   marcus   2012 Nov 17, 4:13am  

REpro says

Why California is broke, and Texas is not

Prop 13, 1978

56   thomaswong.1986   2012 Nov 17, 5:39am  

Dan8267 says

I thought this too, but Texas is one of the few red states that actually pays more in federal taxes than it receives in federal funding.

did you factor in how many moved to Texas and rest of the south over the past 10-20 years.

Only 33% in CA are natives.. the rest moved out to the south... you have a greater than 50% chance that you will also move south for either a job or retirement.

So get used to good old fashion smoked BBQ and lots of Beer...

Domestic Net Migration in the United States: 2000 ... - Census Bureau

www.census.gov/prod/2006pubs/p25-1135.pdf

by MJ Perry - Cited by 25 - Related articles

57   thomaswong.1986   2012 Nov 17, 5:40am  

bob2356 says

Wow, over 100k Texans out of 25 million want to succeed. Oh wait, anyone can sign, not just Texans. So 100k people out of 7 billion people on earth have signed. Msn had a really, really slow news day it looks like.

Wanna count the number of names on the Declaration of Independence...

58   Automan Empire   2012 Nov 17, 5:57am  

Miraculous Weather and Tits Geography
^^^^^^^^^^^^^^

LOL, yeah that keeps me going too...

59   bob2356   2012 Nov 17, 10:08am  

thomaswong.1986 says

Wanna count the number of names on the Declaration of Independence...

Only you would be silly enough to compare the Declaration of Independence signed by all the major leaders of the time to the white house website petition page.

60   mell   2012 Nov 17, 11:12am  

Automan Empire says

Miraculous Weather and Tits Geography

^^^^^^^^^^^^^^

LOL, yeah that keeps me going too...

Me three! Chicks and weather are unbeatable.

61   REpro   2012 Nov 18, 5:27am  

marcus says

REpro says

Why California is broke, and Texas is not

Prop 13, 1978

How many places in CA have 1% straight tax today? Maybe bare land.

62   Bellingham Bill   2012 Nov 18, 11:19am  

marcus says

Prop 13, 1978

This is actually a good point. Texas actually has a pretty aggressive property tax regime. Plus they didn't allow their economy to go flim-flam in the 2000s, by limiting people to 80% LTV ratios on refis etc (they learned from the S&L/oil patch crisis of the 1980s).

63   Bellingham Bill   2012 Nov 18, 11:29am  

REpro says

How many places in CA have 1% straight tax today?

? It's not the rate it's the assessor valuation, which is limited to 2% per-year increase.

Thanks to Prop 13, the apartment I lived in in 1990 is now paying pretty much the same property tax it was then, even though rents have more than doubled (nearly tripled).

Land $1,302,912
Improvements $2,434,406

80 units so the assessor is valuing each unit at $46,000. Actual market value is around $300,000.

The assessed property tax per unit is $30/mo. Rents are $1700-2700.

« First        Comments 52 - 63 of 63        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions