>>>>My kids' generation couldn't possibly fund my generation's retirement. They probably can't fund their own.
>>>>That generation of working people and later ones has seen a steady erosion of its share of GDP.
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>>Agreed. And also I see it that the Middle Class has most of its wealth in the family home on which they already pay a value tax called property tax. So why shouldn't those fortunate to have wealth in a lot more than the family home, also pay a property tax on their wealth?
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>>Certainly I get it. Thank you.
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>>Whether the Democrats are brave enough to impose it on their wealthy voter base, is another matter.
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>>As an example of what to expect: wealthy coasters were content with huge state taxes before Trump because they simply deducted it from their federal tax so were unaffected. Trump identified this as a drain on federal coffers, so he capped the amount that could be deducted at $10K. What did the wealthy coasters do- did they celebrate the virtue of now paying for themselves the high state taxes they had supported? No, we both know what they did: they jiggled their affairs and expatriated wealth to avoid the high state taxes, leaving CA with a huge deficit. Woe betide any Democrat who proposes higher federal taxes that can't be similarly wriggled and jiggled out of.
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>Note what the California deficit was when the Republicans controlled the state -- and how it disappeared when they elected democrats top to bottom throughout the state. Everyone was saying if you raised the taxes on the rich in California that they would all move to other states -- ya know cause what does LA have to offer that you can't find in Boise Idaho? lol lol lol -- they did not leave and bye bye deficit.
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I thought every state but Vermont had some kind of balanced budget requirement. How many years have the Repubs controlled the California legislature since say 1969 ?
I'll call your Boise and raise you one "anywhere in south Florida"


>>>>Once you take away the assumption of consistent income growth in all income levels, nothing works and you start getting people saying things like you just did.
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>>Sorry if not seeing the emperor's clothes is so problematic. ;-) It is what it is, and the virtue of a proposed response does not dictate its success.