Should the American taxpayer bail out California?

http://www.youtube.com/watch?v=XjlqNC25bI8&feature=player_embedded

The county tried to show the state how to do it, and the state apparently didnt want to hear it.

If the state govt would do what the county did, the state wouldnt be in the mess it is now.

Would a novel solution to California's problem be assisted if foreign countries could buy "immigration equity" in a state? Specifically, in the way of example, if China wanted to increase its immigration to the U.S., so Chinese nationals could develop American business (that then trades with China), China could buy an immigration quota from the U.S. federal government (the monies specifically allocated to help with California's tax burden). More Chinese nationals then come to the U.S., bolstering the U.S. economy, while the "immigration quota purchase" helps California's tax burden, and China has additional trading partners in the U.S.

A win-win solution? Note that no foreign government bought any property (like the Japanese once bought Rockefeller Center), but just bought an immigration quota. In my opinion, the children of the new immigrants would be contributing Americans quite quickly, since they would be inheriting a parent's business.

I guess if California had increased their tax revenues by 38% from 2002- 2005 they wouldn't be in the position they are.

http://www.sdtreastax.com/pt_general.html#calendar

FISCAL YEAR .. AMOUNT COLLECTED

2005-2006 ... $3,499,928,919.62

2002-2003 ... $2,518,098,853.33

Are you proposing that California should have raised their tax revenues by 38% over 3 years MM?

a dollar saved is as good as a dollar earned. A lot of the problem is foolish spending, for instance obscene and immoral prison spending, rampant fraud in the social spending programs, and paying too many state workers too much money. But certainly taxes need to be increased.

You don't solve the problem in California with fixing this decades long problem of the state robbing from the counties though. The political process is broken and the dysfunctional county/state relationship is a big part of the problem.

Interesting idea, Foofie, but your immigrants would take one look at the job market and start migrating to the east.

Hell no is right.

Whether it is an individual, a company, a state or a country, the consequence of poor decisions need to experienced, or the decisions being made will continue to be poor.

It's a pretty simple dynamic.

Just like "don't spend more than you make" is a pretty simple concept. It's not something only the brilliant and educated can learn or practice.

Finding ways to mask or postpone the consequence of violating the principle are not ingenious, they are irresponsible and worse. They are as much based on selfish greed as any of the most reprehensible schemes of Wall Street swindlers.

Demanding others (whether they be folks who work harder than you or your children and grandchildren) pay for your whims and wishes; your follies and bad intentions is immoral.

California has made it's bed and it must now sleep in it. The poorest Californians will only suffer during the economic reboot the state needs, if the people of California allow it, and if the rest of the country steps in to bail them out on the basis that poor Californians should not suffer, the bad decisions will be further enabled. The "poor" with their big screen TVs, cell phones and i-pods who have sought and accepted public assistance have contributed to the state's problems as well. For their sake as well as the sake of California, they should not be isolated from the consequences of bad decisions.

We are at a serious crossroads now. I have a sinking feeling we are going to make the wrong turn.

President Obama has already expended a lot of political capital on the auto industry. There is no way the Fed can help CA. The rest of the country would not tolerate it. Period.

it is not that, the federal government is already guaranteeing something like $6 trillion in debt, and is spending $1 trillion a year to prop up the failed economy. The national treasury can't take on the burden of the states debts. In case nobody noticed, the debt sales have not been going well of late because those whom have money to lend are questioning the wisdom of investing in America now. We are getting close to the point were the only way to get money will be to print more money, which will cause inflation. We know that inflation hurts.

We shouldn't bail them out. They should spend less.

Damn, I love Krugman, right again he is

http://www.nytimes.com/2009/05/25/opinion/25krugman.html

california, land of the double latte, high colonic, fruits and nuts. Even the smog is organic and the Oxnard exit is a shooting gallery.

So, what's the catch?

Sand Diego County increases tax rates in 2009 in spite of recession

Boy.. raising taxes in a recession. That seems to be working for San Diego County. Maybe the state of CA should try raising taxes.

Fruits and nuts! Waaaaaaaahahahahaha!

You don't know how mismanaged our funds were a few years back. We even
had federal audits and lots of city officials got indicted and have left their
position on not so friendly terms. Here in San Diego, it's been a roller coaster
for quite some time, the 2 % property tax increase doesn't faze us at all
after what we've been through fiscally. Sales tax was increased too, by the way!

I read a day or so ago the suggestion that CA should be divided into 4 states. It will never happen, of course. I would like to see 5 states, so that some newspaper headline writer could put up: "Gall, as a whole, is divided into five parts."

What part of SAn Diego do you live in?
San Diego is my hometown.

I'm on the coast in La Jolla.

I am originally from Oceanside, and grew up between there and El Cajon (depending on who I was staying with, my mom or my dad).

I spent a lot of time at the coves.