On 2011-03-28, PrecisionmachinisT wrote:

"azotic" wrote in message
...
New York, New Jersey, Connecticut and Illinois-states that are the most
heavily reliant on the taxes of the wealthy-are now among those with the
biggest budget holes.

As they've grown, the incomes of the wealthy have become more unstable.
Between 2007 and 2008, the incomes of the top-earning 1% fell 16%,
compared


I feel so sorry for them really I do.

FWIW:

My 401K has more than doubled under Obama.

Mine, too.

You should be more thankful to Bush for this, who contributed greatly
to a market panic, which created an opportunity to buy stocks on the
cheap.

All Obama did was restoring confidence that things will not go to
hell, and created a concern that holding on to cash may lead to ruin
due to inflation. But the buying opportunity was, basically, presented
by Bush.

--if we just keep extending tax breaks for the rich everything will get
better.

I think that it is very dumb and shortsighted, for the "rich", to
insist on ruinous tax breaks. All that the rich could possibly get
from tax breaks, would amount to extra 10% of wealth. That will hardly
change their well being.

But financial instability and inflation that comes from an unbalanced
budget, may easily make "the rich" lose their shirts.

If I was rich, I would certainly root for having a stable budget and
stable financial system.

i