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Billionaire Jeffrey Gundlach slams California over taxes, may leave state

foxbusiness.com

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Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#21

Post by [deleted] »

istorical wrote: post #3
api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

Yeah the ugly truth is that both the democrats and the republicans are often right. Social welfare and public spending is important and needed, and social welfare and public spending is also atrociously mismanaged. But we conveniently pretend the other side doesn't have a point on this because admitting they are right would weaken our own position.

[deleted]

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#22

Post by plugger »

lumberingjack wrote: post #14
textech wrote: post #7

Not from California but I don't blame him. Instead of controlling waste, the usual answer from state and local governments (particularly in California) seems to be raise the taxes. When you have janitors making making 250k+ you have some serious issues and that's just the tip of the iceberg. The sheer number of administrative positions, departments and salaries just boggle my mind. https://time.com/4555692/san-franci…

Americans learned about 20 to 30 years ago that tax and spend Democrats don't get anything done so then they imported voters from a country that was about 50 years behind and they are trying it all over again with them.

What we need is more cut taxes and spend Republicans. That's sustainable.

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#23

Post by panabee »

api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

the high speed rail line data point is interesting.

are there conditions unique to california that could rationalize this massive gap in cost?

if not, and other governments can build affordable rail lines under comparable conditions, why can't the california government emulate those blueprints?

aversion to wasting money, rather than lack of compassion, seems like a reasonable objection to high taxes. what governments in your opinion offer the best mix of transparency and/or responsible spending?

thanks for sharing.

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#24

Post by WalterGR »

lumberingjack wrote: post #14
textech wrote: post #7

Not from California but I don't blame him. Instead of controlling waste, the usual answer from state and local governments (particularly in California) seems to be raise the taxes. When you have janitors making making 250k+ you have some serious issues and that's just the tip of the iceberg. The sheer number of administrative positions, departments and salaries just boggle my mind. https://time.com/4555692/san-franci…

Americans learned about 20 to 30 years ago that tax and spend Democrats don't get anything done so then they imported voters from a country that was about 50 years behind and they are trying it all over again with them.

tax and spend Democrats

I’ve been hearing all my life, which I reproduce here without judgement, is:

tax and spend Democrats

borrow and spend Republicans

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#25

Post by jinushaun »

api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

Having lived in both expensive and high tax cities like SF and NYC, I never got the sense that my tax money was being wasted in NYC like I did in SF. Everything is better and the city is always improving itself in NYC. Where does the money go in SF?

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#26

Post by hackeraccount »

seiferteric wrote: post #20
api wrote: post #17

Earlier quoted context omitted.

That’s sane. It would never go viral on social media.

I've come full circle, I think CA Democrats should be in favor of smaller Government and less taxes at the federal level so that states like CA can have a bigger slice of the tax pie by increasing state income taxes. If we did this I think we could get healthcare for all and other things for CA residents. Since it seem impossible to do things at the Federal level for several reasons, why even try? Just do it at the s…

I'm not a Democrat. I'm not of the Left. That said the argument for wanting activist government at the Federal and not the State level is that it avoids free rider problems. i.e. All sick people move to California because they have free health care. People making money run to low tax States.

I'm unsure personally about how accurate that argument really is but it's certainly made.

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#27

Post by jbob2000 »

msie wrote: post #18
textech wrote: post #7

Not from California but I don't blame him. Instead of controlling waste, the usual answer from state and local governments (particularly in California) seems to be raise the taxes. When you have janitors making making 250k+ you have some serious issues and that's just the tip of the iceberg. The sheer number of administrative positions, departments and salaries just boggle my mind. https://time.com/4555692/san-franci…

Only a few janitors (5) are making more than their base salary because they take all the overtime slots. Read the article.

My cousin works for the government and talks about how overtime is very easy to abuse if you want to. In his case, he manages water works, which involves testing water regularly and inspecting equipment.

At any point during the weekend or holidays, he can just decide to go in to do an inspection and run up some overtime hours. As well, they have an alert system that notifies him by phone if some of the machines are acting up. He can change the sensitivity of the system so that it alerts him for minor things, requiring him to come in and get overtime. On paper, this all looks legit - it’s just a guy who cares about his job and wants to keep everything running smoothly - but he quietly admits to the family that the work is never needed and he’s just doing it for the overtime.

I can definitely see how a janitor could abuse overtime, there’s always something you could argue “needed” to be done.

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#28

Post by api »

danielrpa wrote: post #19
api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

California taxes you a lot more than other states, but doesn't give you better services than other states. I say that because I've lived in 4 states, California included (for years), and nowhere I felt that my money was wasted more than California. Premium taxes for average, if not below average, services by US standards. My current county in a southeastern red state charges me 1/3 than what I paid in California in p…

OC doesn't even have school busing. They say it's because of proposition 13 (which is problematic) but the funds for OC schools are not substantially less than elsewhere in the country where the schools are on average better and there are services like busing.

Where is it all going?

Probably to bloated administration. Colleges are the same story. Tuition has risen massively yet there are fewer tenure track positions for good professors. It's all going to administrators.

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#29

Post by foogazi »

danielrpa wrote: post #19
api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

California taxes you a lot more than other states, but doesn't give you better services than other states. I say that because I've lived in 4 states, California included (for years), and nowhere I felt that my money was wasted more than California. Premium taxes for average, if not below average, services by US standards. My current county in a southeastern red state charges me 1/3 than what I paid in California in p…

Ironically Orange County has been a Republican bastion for the last 90 years

Re: Billionaire Jeffrey Gundlach slams California over taxes, may leave state

#30

Post by nadezhda18 »

jinushaun wrote: post #25
api wrote: post #2

People can blast him for being greedy, but here's the thing about California and its taxes: they are being wasted. We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California i…

Having lived in both expensive and high tax cities like SF and NYC, I never got the sense that my tax money was being wasted in NYC like I did in SF. Everything is better and the city is always improving itself in NYC. Where does the money go in SF?

Is the state of public transit in NYC (subway) better than in SF? I had an impression it's horrible (everybody hates it) and it's a total money pit.
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