California is already in depression

CA has the highest sales taxes, highest income taxes and what other state has more 1 million plus dollar homes??? The property taxes in CA are HUGE because of the pure volume of real estate and the highest prices in the nation, for the middle class neighborhoods!

And stop blaming Arnold! He said 3 years ago the increases in the state budget are not sustainable, he said it 2 years ago, when times were good he asked for the increase in revenue to be used to create a rainy day fund.

Why doesn’t any reporter report on that record, I am just a common Joe and remember reading and watching all of this on the news!

You know who ends up paying the most if Prop 13 goes away, all the seniors that have there house paid off and are trying to retire in peace, now boom taxes go from 1-2 thousand to 5-8 thousand!

Real estate bubble burst last year and house price drop significantly, All real estate slumps usually take a decade or so to recover, CA is the biggest victim of this crisis and it’s economy will be depressing for a long time before the recovery.

Related Posts:

• Something we have to think about in this rally and comments about a bottom.
• Leave it to the WSJ to report the truth - and then try to paper over it:
• No question, we are in much worse shape than the US was in 1929.
• There were not “fewer jobs lost”.
• Now for a message from the State of California to the rest of the nation:

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