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In Reply to: The Truth About Taxes posted by Mr. Don on May 24, 2004 at 08:44:58:
I was reading an article recently about California (the state I live in). We had this gigantic surplus, and then we plunged into a deficit. Most of us blamed Gray Davis, and took him out of office and put in Arnold S.
This article talked about the effect of the .com millionaires. Many of them were up in San Jose, and they paid massive taxes for the few years tha the .com thing went on. Then most of them went broke and stopped paying all of those taxes.
The article put numbers to it and made a good argument for the surplus and deficit being created by the rise and fall of those few wealthy Californians.
