California gets first crack at the new tax. We been through this once before with Obama. If California does not get its share, California is bankrupt. So if Pocahontas wants to start at a million, it will not do, she can start at two million, and California gets the first chunk o tax. California is a huge boom and bust, pro-cyclical Kanosian state, if the Swamp cannot have all the taxes, California is belly up, almost immediately, and Gavin is completely clueless. California has veto rights, we exercised the right during the last tax hike, and we will again.
California counties are being hit with the usual pro cyclical expenses, as I have outlined before. Hitting all of them at the same time in usual Kanosian fashion. The kanosian cycle has robbed us of about 10 billion on capital gains, another 2 billion in declines in the housing market, and are being hit with huge interest costs on the school building program which was very ill advised, and encouraged by Delong and his ilk. Now we are screwed, and the Swamp is stuck since California can single handely take down the entire economy, except Texas.
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