California budget talks collapse

Examiner.com ^ | 3/7/2011 | Joe Alfieri

[Logical me]

Like the Federal Government, California is toast. Unless they can steal more from the taxpayers they will never overcome the deficit. The more they steal and the more they give to buy voters the closer we will slide into a third world State.

[yefragetuwrabrumuy]

I think an “out” to the pension fight is soon going to materialize.

The States are legally obligated to pay those pensions. However, they are under no restrictions about how much they can *tax* those pensions.

That is, “Okay, fine. We will give you your $200,000 pension, because we have to. But we’re going to raise the taxes on your pension to 80%, so it will be just the same as if your pension was only $40,000.”

[television is just wrong]

well, this was our choices given.