It seems that the economic model the Obama administration is using is the "California" model. After all this administration seems hell bent on using the nanny state model that California has excelled at all these years. The only problem is that state is losing people to the tune of 2,000 a day...flowing away from the peoples paradise that is California.
They have the most generous state pension plan in the country.
They have the largest state bureaucracy in the country (& most unionized 57%).
They have the highest per capita tax rates.
They have the state budget deficit $14 billion by next June.
They have the most regulated economy in the country.
This California model is important because Obama is adopting it as a blueprint on a national scale. If he wins (and don’t count him out), life really would be more patterned on an equality of result. New payroll, income, state, local, and health care surcharge taxes would hit those over $200K with about a 70% take of one’s income. The public sector employees double in number, unionize, and demand ever more from “them.” Cap-and-trade charges raise monthly utility bills 20%. Things like SUVs, Winnebagos, and private jet travel are taxed out of reach — except for a guardian class that uses public moneys for a rarefied lifestyle of governance and enforcement (sort of like the jets parked on the tarmac at Copenhagen or Barack’s night out on the Big Apple).So it looks like we can expect our new socialist overlords to begin really taxing us...