Seriously, why aren’t we doing this?!
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I do not understand.
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Unlike those countries, California lacks control of its own currency and pays a substantial portion of its tax revenue to social programs that benefit other states. I don’t whether this proposal is workable, but the analogy isn’t that helpful.
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True! But those countries didn’t use monetary policy but rather levied taxes. CA can absolutely do a one time tax on wealth over 500 million or some such.
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