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All right their taxes go up people just clamped down it's human nature is -- -- rising slightly last month but the base is slowing actually on both.
And I simple Hamas.
That's -- anti tax activist Grover Norquist wearing a lot as well the bottom line Grover is United's discussed says you know -- It will win when your taxes go up and there's less that take home pay it's gonna affect not only your psyche but you're spending -- -- tax increases don't help the economy and the new threat to.
Change the laws.
To -- staged attacks across borders to tax businesses and other states.
On Internet sales.
It is a move in the wrong direction -- undermine.
Tax competition which is a good thing I want.
The government of taxes and the government of California to each try and provide the best government at the lowest cost and people will move.
To this state that provides the best government the lowest cost if you allow California to export its taxes and -- Texas.
It undermines that.
But you know leaving aside about -- taxes and whether brick and mortar institutions are at a disadvantage in that debate.
-- on forever.
The government is growing just two days you probably heard the for the first time in six years.
It's gonna pay down a little bit of the debt -- it's gonna keep -- is that although was spending but it was a token -- does say.
We're making a payment on that -- visa bill.
But the visa bill still gets bigger.
So they're saying the reason why were able to do this is because of all that tax revenue we're get again.
Guys like you question how long we're gonna keep getting right extreme -- Well look that unfortunately.
At the state level and at the federal level governments are spending too much money.
And that this central thing that we have to do at the national level is to keep the sequester.
Limits in California they've been raising taxes rather than.
Governing rather than.
The bottom line is indicates those states initially when that happens because that it -- the Smart money hasn't had time to leave -- some very.
The money comes that on the federal level hiking the riches taxes and all and I'm getting of doing away with the payroll tax cut to people have been enjoying.
Almost all taxpayers the last two years.
You're gonna get the revenue it's a Washington isn't doing the revenue.
But it is a depressive longer term right it is going to -- revenues longer term when will that be.
Well I think fairly quickly you're seeing in California they raised all those taxes under brown he's going -- where we're finding out.
But the unfunded liabilities from the pension systems I mean there's -- -- -- the -- the -- Liabilities from pensions in front at the state level.
The entitlement programs at the national level are swamp thing.
That this small amount of revenue that comes in on the short.
Short term basis.
So bottom line whatever game you're getting from tax hikes is little more revenue will be -- overstate the psyche them.
They're gonna be a depressant on the economy they're gonna slow the economy down and boomer.
Yet look and you're eating your own army can only do that so long.
So rather imagine we're putting an armed Grover it's good seeing you the -- analogy no standing.
Thank you very much will this just --
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