Read the full articleI follow cyberpunk, cool-hunting author William Gibson on Twitter. The other day, he tweeted, "It would be so cool if the 1% dressed exclusively in steampunk Prada. Even just for a week." I retweeted his post and asked, "Who do I know who'd rock this too?" I'm pretty sure I know a lot of people who would be very happy to wear high end couture Prada steampunk, so it wouldn't be effective as a way to spot 1%-ers. Mind you, surveys have shown that 12% of Americans believe they are members of...




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I could go on and on about taxes. I wrote a paper just on California state and local taxes. 25 pages that could have been 250. Now mind you, I don't mind paying a bit more to live here. Looked at pragmatically, relying primarily on higher income and cap. gains taxes is a recipe for volatility. You will never fix a structural deficit that way. The way to go is to lower rates (but close deductions, loopholes, and expenditures). Expand the tax base. Folks will see that as somehow benefiting the wealthy these days. Negative. The point is to grow the economy. It would also create a steady revenue stream to balance the budget and fund vital services. Marginal tax rates / = / effective tax rates. The same holds true for the country to some extent. I can't say I know the federal code in great detail, but that alone gives me pause. Tax reform would have to be revenue positive at this point, but that has to include growing the economy. We can't just tax or cut our way out of this mess. We have to do a bit of both, while taking great caution to protect vital services.

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