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March 17, 2009

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Brent Campau

Bob McEwen says that a politician can make a poor place rich or a rich place poor simply by cutting or increasing taxes respectively. You can literally walk around the cities with higher tax rates and notice the diminishing standard of living over time periods following high taxes. Take a look at Detroit. Case and point.

John Dickinson

Robert,

I live in Arizona and we can relate to this article. A couple of years ago, many people were selling their homes in California and coming over to the Phoenix area and paying cash for their home (a good move) and then buy a couple of rentals as well. This was all happening during the fast real estate price increases here. Now, many of the landlords are having to foreclose on their rental homes because rents have dropped and they can't afford the mortgages on those rentals. Unfortunately, some of those people that moved from California have also now been laid off from their jobs in Arizona (I worked with a guy who was from California and was laid off). Maybe people will need to move to the midwest next. :)

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