Back t normal means secure the jobs of the next generation public sector workers. California and New York are beginning to flounder. They need a new source of taxes, but California unions have begun to hog the tax space again. California is not the Swamp, the first priority out here is to fund our own pensions. So there is a repeat of the tax drama of the last cycle, where will Biden get his taxes, if he wins? If Biden cannot find taxes then it is retail bank taxes and deflation.
If Kamala was useful at all she could negotiate with the state unions for a deal. That is he jo, it is why the unions are contributing. Like set the targets to a reasonable 4% and the Fed share in the difference for current pensions n the run. But the boomers have to eat some cost.
Inflation adjustments have to go. They are not green and prices should come from the pits, negotiations. Infrastructure is not happening. Road repairs are a piecemeal negotiation, and mass transit in not expanding.
If California unions can agree to a federal deal then it is possible to deflate our way through this. Otherwise it is the path of devaluation and a New Fed contract. It depends on the governors, the state system is under stress, a severe crowding out from the Swamp is putting the state system at risk.
If the Californians win then small states need liquidity to survive the long term bailouts. The current situation puts a one or two percent tax on their retail banks, they need those banks for survival.
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