Dear Everyone;
A word to the wise to start burying those coffee cans filled with
money in the back yard.
Ron Getty
SF Libertarian
--- In cal-libs@yahoogroups.com, Brian Miller <hightechfella@...>
wrote:
Because the housing speculative bubble has popped, there's no
extra "equity" to convert into borrowed money to spend on stuff.
Ergo, consumer spending (the driver of the economy) has slowed down.
Ergo, less activity. Ergo, less to tax. Ergo, tax revenue isn't
keeping pace with soaring spending.
Which means they've got two choices -- cut spending or increase taxes
(either directly, or through deficit spending, which is just a long
term tax increase).
What do *you* bet they're going to do? 