Do you know what makes me laugh?
People getting upset over state income taxes.
When it is the Federal Government that went on a spending spree like no other time in this nations history.
So you want to flee New York because the state tax is so high?
Where are you going to run when FEDERAL taxes go through the roof?
The Affluent make me laugh the hardest. It was those that invested in derivatives and those mortgage packages that caused this housing problem to
Ok, so some rich people got together, thought about it and decided to let anyone with a pulse get a home loan for a house that they couldn't possibly
afford. (Great thinking on the part of the affluent)
They take these mortgages, pile them together, split them up into shares, and sell them off to other rich people with the promise of big returns on
this investment. (After all the housing boom was in full swing, people making a buck off of land)
People flipping houses over and over and over raising the price on a property well beyond it's actual value, and creating an artificial environment
of wealth where there was none.
A few months later they jack up the interest on those Adjustable Rate Mortgages. Causing people who never should have been given a loan to begin with
The bubble burst. People were stuck with properties they could not afford, banks were having to put people in default and so to curb their losses they
froze the credit market.
That hurt businesses, like GM and Chrysler. So businesses in order to curb their losses had to start laying off employees. This hurt the states
The states in turn must raise taxes in order to provide essential services to their residents.
So the banks run to the Federal Reserve, (a private organization) and tell their good buddy, "Hey! We are loosing our assets here! HELP!"
So on behalf of the affluent the Federal Reserve goes to congress and put's a gun to their head. Demanding that the Federal Government bail out these
financial institutions. (and therefore the affluent nimrods that got us into this mess to begin with)
Now that it's time to pay the piper what do these same rich people do? They turn tail and run. To states where there is no INCOME TAX.
to see the look on some rich idiot's face when they get their property tax bill.
I guess it's like an old dine and dash scheme at a restaurant. I guess that the Affluent would rather leave the check to the poor than (GASP) pay up
for the damage caused to this countries economy.
I wonder if there are any real fiscally responsible people left in this country.