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Outstanding article written in the WSJ by two Stanford Profs

Original post made by Hank Lawrence, Menlo Park: Sharon Heights, on Mar 14, 2012

Michael Boskin and John Cogan respectively are professors of economics and public policy at Stanford University. They are also both senior fellows at the Hoover Institution. You can't beat those credentials.

This is the best article I have read on California's economic climate and puts the blame where it is so richly deserved: On the State Government of California.

To read more click on this link

Web Link

Comments (3)

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Posted by WhoRUpeople
a resident of another community
on Mar 14, 2012 at 2:22 pm

First, I gotta comment on Hank's comment that "you can't beat those credentials"--yeah, you can, frankly there are several far more prestigious economic institutions, tho I'm sure these two guys are smart.

It doesn't take a Hoover fellow to be able to recognize that much of CA's economic problems are the result of State government, rediculous over-regulation and special interest considerations, what is harder to get people to admit is that we get what we tolerate, and we (the electorate) put the current government in place. So my view, we're all to blame, and we need to make it right with our votes. Party politics aside, next election, if you're in, you're out. No exceptions. Send a message!

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Posted by gcjackrabbit
a resident of Portola Valley: Westridge
on Mar 14, 2012 at 6:19 pm

Couldn't agree more with Boskin and Cogan. Great explanation of how to "face and recognize the facts of life" in California ... as, it seems, our "elected" legislators are in the dark and refuse to confront and deal with the real issues affecting the State. For those who write about eliminating Prop 13, they obviously don't have a clue either and, obviously, were not around when the voters took it upon themselves to stop the giveaway by government (at the expense of homeowners and renters) with no end or limitations in sight. At this point, according to the CA Board of Equalization, EVERY home in California "turns" (i.e., changes ownership), on average, every five years. This means that there is no "advantage" for homeowners who have been in their homes for long periods of time in terms of any diminishment of taxable worth to the State. Prop 13 is as fair as taxation can get. The value and taxation is based on the worth of the property when it is assessed based on the value or price paid. This has been the case since the very beginning of the initiative. For you newcomers, we who have been here have made California the attraction it is (or was) for those seeking a new start with brighter horizons (and based on the most recent Field Poll, voters are still overwhelmingly and decidely in favor and by a GREATER margin than when it originally passed -- Web Link.

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Posted by R.GORDON
a resident of another community
on Mar 15, 2012 at 4:16 pm

I think the entire state of CA is so fractured and disagreeable due to so many inconsistent and really racist and bigoted people--and now so many more billionaires who do little in politics to help its citizens,that it will be apparent in when the winner of the Republican vote in the primaries........duh?(Have you ever seen such a mess except for California?)
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