Let me introduce you to the concept of bonding against future tax revenues
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Replying to @upwithppl @uhshanti and
Let me introduce you to California’s high revenue volatility, which negatively impacts its bond ratings.
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Replying to @kimmaicutler @uhshanti and
It's rating is triple a minus, no?
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Replying to @upwithppl @kimmaicutler and
The revenue volatility is real talk. Things were brutal for local and state government programs during the ‘08 recession. Transpo / Infrastructure was bad, but social programs & rural areas were hard hit.
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I’m very supportive of more progressive federal taxation. With CA state, it’s a more complicated question because you’d be doubling down on the same structure that left us with $40-100B deficits in the last recession.
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Replying to @kimmaicutler @kenyaw and
If the public has 2 pay for it 1 way or another, there's no difference if we bail out pg&e, form discrete MUDs, form a statewide utility, or whatev. We still debt finance against future revenues. If we're paying, we should pay in the most progressive way, & should own the system
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Replying to @upwithppl @kenyaw and
The most progressive ways to fund California’s systems and services also happen to be the most unpredictable and most volatile.
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Replying to @kimmaicutler @kenyaw and
sounds like some means need seizin'!
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If you’re talking about PG&E, that’s on the table. If you’re talking about everything else, my mom’s family went through that and some of her childhood friends’ parents died in camps.
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Replying to @kimmaicutler @uhshanti and
? If you're saying progressive taxation somehow leads to totalitarianism, i don't really follow
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I think you are making up or misinterpreting what I said.
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Replying to @kimmaicutler @uhshanti and
Misinterpreting, maybe. Everything we've discussed on here has been mechanisms firmly within the realm of standard progressive policy, so i don't have any idea wher "authoritarian" came from
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