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Author Mike Reagan on calls that increased taxes will help the state produce a surplus in coming years.
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I -- on California's so called comeback.
Now we're gonna hear from California is O and Mike yeah from a Reagan dot com are much welcome back.
Headline in the New York Times you know what I'm told about -- California finds economic gloom starting to lift list.
And the premise of their argument is those tax increases.
Will produce a budget so helpless in California in 2014.
And you say walks.
Yeah I figure out there -- -- -- in the headline in this story is La Jolla, California yeah law whole idea.
Del Mar -- -- Abby my goodness gracious talk about the the capital of capitalism and other low volume where people go on vacation.
And what have you the risk of his -- This -- not getting better -- -- -- -- their argument that we're not actually not the thirteen point 3% millionaire's tax that they just voted for.
On November 6 of this year which of the highest tax rate in the nation.
Just give it going to be enough -- after tax people aptly more he also talked about housing.
And the fact that the cost of housing and -- the prices are going up on the houses people -- More people are buying houses know there's people were trading up with the equity they have and their home.
They get into a new home at a lower price now at a low interest rate as -- when you talk about.
People renting.
My god -- the -- haven out here because most people cannot get that loan from the bank.
To a fact buy a home so they have to rent a home there for the rental prices have spiral.
OK let let me turn this around a little bit.
As opposed to us a resurgence for California.
Would you agree that may be California has hit bottom in May bumble along the bottom for a while but -- hit the bottom what -- not.
We just voted to get to the bottom because -- with the vote that took place on November 6.
You have a 29% registration rate in the state of California of Republicans which means we can't elected dog catcher here.
And the other side the point is there's about two thirds majority of Democrats in the states and at the state assembly which means the Republicans could stay home -- their house.
Drink there drink they're selling dollar cup Starbucks they just get a paycheck from Washington because they have no -- Isn't this dummies -- -- -- until they have no staying in state California.
Another story which we've been running this morning is the full magazine article from bill -- when.
Putting eleven states saying -- on a death spiral.
California is one of the eleven states Baldwin says you don't buy a house that he's done by their municipal bonds.
I think that maybe that's kind of extreme language will you go along with death spiral and apply -- to California.
No I -- -- just borrow I think we've been death spiral I think we're still in that death spiral and we need to come out of it.
-- -- the people California pull themselves out of it.
And and wake up and start putting people in Sacramento.
We're going to be there not for themselves but for the state of California not really working in 2013.
Which -- and -- these silly woman for an.
From Bakersfield we're going to try take this state back.
By ballot initiative if necessary but -- stay here.
And try and fix this damn state in 2014.
With a ballot measure and -- -- can't do within mobile over I'm moving them.
What I thought I knew that was -- they punch line -- the very very end like Reagan great stuff thanks very much and it might.
Thank you.
