Conversation

re: #TaxCABillionaires CA has the highest taxes in the nation. CA could raise more money by reducing taxes. Counter-intuitive but when you reduce fees, volume increases. The rich are fleeing CA because of high taxes. Unbundle the government. Let's see what we're paying for.

354

34 Hanakookie

@Hanakookie1

Jul 17, 2020

Ca is in a spiral. They can’t lower taxes Bc that cuts into revenue for pensions. They can’t raise taxes bc that abandons revenue for pensions. The best they can do is reduce headcounts. At some point a tradeoff has to be made.

Jesse Powell

@jespow

Replying to

@Hanakookie1

Maybe states will be saved from pension liabilities by massive USD inflation. Since the state is an inefficient service provider, it could shut down some failed government programs, like education, give only half the money back and everyone would still be better off.

7:24 PM · Jul 17, 2020Twitter Web App

Replying to

Ca can’t issue its own currency. They suffer the same as other countries that issue debt in USD. This can’t be resolved through with less taxes or cuts. Only time. Or they could get with other states in the same situation and buy bitcoin. Make use of the multiplier. Still 15:1