Jim;

Good question! However for those of us who are “blessed” with living in California, the state income tax may be going up along with all of the other already high taxes we pay. Our deficit is said to be 34.1 billion. We have many businesses that no longer exist and high unemployment (especially in the Silicon Valley) so less capital has been available in the form of taxes.

It has taken the politicians in this state one and a half years to figure out “we have a problem”! In the mean time they were busy spending money based upon revenue projections created in January of 2001. California has the worlds fifth richest economy, if we were a separate nation. Other states have balanced budgets – we have chaos!

Tom

>SNIP
>
>Happy Holidays to you too, Tom.
>
>Now your statement below does bring to mind something that I've been wondering about with all the talk of (more) tax cuts going on in the U.S.
>
>I wonder how the U.S. could afford all this might and logistical power if there was no personal income tax there?
>
>cheers
>
>
>>
>>One thing the United States is good at is logistics. Without good logistics you cannot hope to fight and win a war. Somehow I think the world should have advanced beyond this mentality. Oh well.
>>
>>Happy Holidays!
>>
>>Tom