Add Narco to the list of liabilities

Buffett stated the obvious: those governments are sitting on enormous liabilities, and they’ll soon be under pressure to fix their broken pensions by radically raising taxes.
“If I were relocating into some state that had a huge unfunded pension liability, I’m walking into liabilities. . . And those are big numbers. Really big numbers. . . They will come after corporations. They will come after individuals. . . They’re going to have to raise a lot of money.”
Buffett further mused that it would be foolish for a business to invest heavily in a state with massive underfunded pension liabilities, knowing that the state would eventually resort to extreme taxation:
“Why [would] I want to build a plant there that has to sit for 30 or 40 years?”
Buffett’s business partner Charlie Munger was even more direct in an earlier interview with CNBC, saying that places like New York City and California have been “pretty dumb” for “driving the rich people out.”
Buffett agreed, saying that states like Texas and Florida (which have no state income tax) are very attractive to wealthy people.

The Euler solution might be: Let Congress take the bulk of income taxes, raise the cap on deductions and be revenue neutral.

But we are still stuck with skew, New York and California have to settle first.  Add Narco to that equation, and no solution is possible, we get sudden stop. The LAUSD contract is not yet paid for, except the rainy day is gone. That contract was about Narco neighborhoods, largely. Gavin is desperate for tax to fund a self perpetuating, political correctness problem. He has a Nancy problem.