Buffetted On The Roller Coaster

The 'Buffett Rule' hasn't worked in California - latimes.com: "If President Obama really wants to see the "Buffett Rule" in action, he should look at California's tax system. The state has been plagued by it for years.

The revenue stream is unstable and the state budget has been a deficit disaster.

Soaking the rich — relying heavily on them for income taxes — has resulted in a precarious revenue roller coaster ride. It's either boom or bust in Sacramento, depending on how the wealthy are faring in the stock market and their other investments."

Economics 101. I know, we'll have FedGov decide when the moneybags have to take their capital gains. That will solve it! Good God.