Exactly backwards - the human factor is precisely why "rational markets" theories are so consistently proved wrong. Markets (investors and consumers) do not respond like robots to economic conditions.
Your other republican-brain problem is that you think that everything is about taxes. Taxes are a value in equations, but you guys fixate on them - you are enraged by them. You're lost in the "meaning" of taxes. And so you end up making silly comparisons about thing A and thing B based on taxes.
Issues like the fact that many California municipalities were bankrupted by fraudulent investments not too long ago are lost upon you. Issues like other nations in the world have higher tax rates than California but still thrive (any taxes in Australia?!? how is their economy?) crush your superficial argument before you hit the "send" button but you still carry them on anyway. Ridiculous.
Read the Article at HuffingtonPost
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