Archived posting to the Leica Users Group, 2011/03/12

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Subject: [Leica] IMGS: check out Keith Wessel's photographs
From: red735i at earthlink.net (Frank Filippone)
Date: Sat, 12 Mar 2011 21:53:56 -0800
References: <38C7FB98-0C4A-4D57-BF3E-AF6432C7F390@mac.com> <4D798495.6010704@panix.com> <F1C731CE-FC27-45CA-B521-4DC41AEC8698@mac.com> <444198.62728.qm@web86707.mail.ird.yahoo.com> <1B6C17B8-E719-4380-9ADC-F217B6F687CE@mac.com> <946558.92566.qm@web86704.mail.ird.yahoo.com> <7CEC6AEC-6104-42A0-BAA1-195CABF7EDD2@mac.com> <4D7BC831.6070304@panix.com> <CC69A396-A9C0-4E48-B110-ED5DC5C852B9@mac.com> <44547247-2CCF-416B-908F-1EF3A6B95574@embarqmail.com> <027401cbe11b$8a2f66c0$9e8e3440$@earthlink.net> <000101cbe13b$69d4b9a0$3d7e2ce0$@com>

I only reported what I read in the LA Times.

My point is that there is no money to spend to provide the current
.programs, including salaries.  A lot of private sector jobs have had pay
cuts..  I went through 2 of them in my career.  It sucks. It is a reality of
corporate and government income loss.  The other choice would be to cut
10-12% of the head count.  People ( employees) generally dislike that more.

Overspending is the problem, as well as  lack of tax income.  You need to
focus on both issues to get it fixed, however, until income levels return,
taxing more does not create significant revenue as the tax base is fixed and
lower than plan....   cutting programs (spending)  will immediately have an
substantial effect on fiscal balance..  

There are always 2 (in the extreme) sides to a discussion... in this case,
Tax more or Cut spending.

If there is no money to pay out, then cutting spending is the only viable
solution.....  ( short of more bonds/borrowing, which makes the entire
problem worse.)

When I hear about the California ( where I do live) deficit, I am amazed.
Yes, times were good.... tax revenue was seen to be infinite and
increasing...spending went out of control.  But now, revenue is in the tank,
and we are still spending......   California needs to cut spending.  Jobs?
Pensions?  Health plans? Roads?  Schools? Building?  ALL of the above and
more.....

I repeat.... in a family economy, if you lose your job, the very first thing
you do is to stop spending..... then you go out and look for a new one (
source of revenue).

Why should government be different?

If there are so many people out of work, is it not logical to believe that
there are many people capable and willing to take on the jobs of others?  A
10% across the board pay cut ( including the police and firemen) saves 10%
of that part of the budget, immediately.  If you, as a government employee,
do not like that. Quit.  There is someone who will take your job in  a
heartbeat.  ( supply and demand in action)

We in California have a 9-10% marginal personal income tax rate and a pretty
consistent 9-10% sales tax on everything except food.  A lot of companies
have left the state because of taxes, both corporate and personal income
tax.  Nevada has no personal income tax,  Ditto Texas.  Not sure about
corporate tax rates in either state.  But the drain towards these states is
rather substantial.  Raising taxes forces companies to move, for competitive
cost reasons.  Lowering the tax base.

Given our situation out here, raising taxes is not justifiable unless you
cut spending at the same time......and I don't see that happening.... 

Wisconsin?  Not sure of your situation, but suggestion is that while the
precise details are different, the song is the same.....

Again, YMMV

Frank Filippone
Red735i at earthlink.net


-----Original Message-----
From: lug-bounces+red735i=earthlink.net at leica-users.org
[mailto:lug-bounces+red735i=earthlink.net at leica-users.org] On Behalf Of
Keith Wessel
Sent: Saturday, March 12, 2011 8:59 PM
To: 'Leica Users Group'
Subject: Re: [Leica] IMGS: check out Keith Wessel's photographs


The only way to balance the budget is to first cut spending, then increase
taxes, temporarily.

YMMV

Frank Filippone
Red735i at earthlink.net

Frank,

There is much more in this bill that you have described.  All public
employees were given a 10-12% pay cut.  There are many teachers and sheriffs
deputies who are going to lose their homes.

The governor is given the opportunity to give(sell) the state power plants
away to his contributors.  Currently we have power plants that provide heat
and cooling to state buildings.  The governor's campaign was financed by oil
industry tycoons who want these power plants.

The recession ended in July 2009.  We have a fragile recovery.  Economists
were predicting 250,000 new jobs for Wisconsin as we come out of the
recession.  That would be a source of tax revenue.  I predict that the huge
cut in spending associated with this bill will spiral through our economy
leading to more foreclosures and probably a new recession.

Keith





Replies: Reply from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
In reply to: Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from shino at panix.com (Rei Shinozuka) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from frank.dernie at btinternet.com (FRANK DERNIE) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from frank.dernie at btinternet.com (FRANK DERNIE) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from shino at panix.com (Rei Shinozuka) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from imagist3 at mac.com (George Lottermoser) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from ricc at embarqmail.com (Ric Carter) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from red735i at earthlink.net (Frank Filippone) ([Leica] IMGS: check out Keith Wessel's photographs)
Message from keith at wesselphoto.com (Keith Wessel) ([Leica] IMGS: check out Keith Wessel's photographs)