Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
new Saturday Serna di San idee state and local federal taxes buying can group were in the United States over Maori car the blue lines sticky up our hand at more you have to pay in tax the more you get paid that the blue federal taxes in blue year so the more you get paid more part of your wages goes to paying tax year percent of income gap that right the percent of your income goes to tax the more you get paid stepping upwards that blue love those blue sticky up once in red is state and local taxes which is rather interesting it’s the other way round the less wages you get the less salary get the less incoming you have no on the percentage you have to pay in state and local taxes and that steps down completely arm against the way the run of federal taxes and the The richer all the more more you get paid to do less and less percentage of that is taken in state and local taxes it’s just odd but if one is what you might call right then the other is wrong or do they joke they designed so they balance each other out it’s an interesting one and if people wanted to do redistributive more arm they could start swinging those state and local taxes overs to the more you get paid the more you pay in state and local taxes to share the burden somewhat moving over to the left Coast California IEA and Mrs John Chiang’s use of money Manfred California his report on how things are going the left-hand column is August 2012 compared with as his budget the budget that he did so would not particularly interested in that than the left-hand column that’s just how John Chiang is doing okay the right-hand column is how California is doing in 2012 as compared to 2011 which is a bit more interesting total revenues are down slightly but not tragically that down 5 1/2% income tax obviously that had a bit of your work income tax hike there in California and got more income tax in the 11.6% more income tax in sales tax and this is the reason that I have put this one up the sales tax bring down 20% I think is quite significant this is showing that the consumer or is not out is not out there consuming corporate tax have no idea what going on that down 70% and if you can sin the left and column change he knew it was going to go down 70% Symantec has been a bit of a law change that but if you look into the rest of this document arm housing is doing quite well it and nothing is collapsing in California I is the housing prices of, some more that sold some more houses is not a great collapse going on in that department but the sale sales taxes down I think it will be representative of an overall thing where the consumer 70s .46% of the GDP number is not out there hitting like it has in the last 40 years sales taxes down 20% as goes California will go the rest of America that the basic thing is as been pushing this week and I’m just capping it off here are consumers are going to be consumers in the future they want to their habits little idea to want to be returning to being people who write and read this by Dean Baker about the Chicago school teachers giving us a lesson arm because I think it will be it is a bit of a lesson we don’t know the final terms of the settlement yet but it appears that the Chicago public school teachers managed to score a major victory over Rahman manual are as Chicago’s business oriented mayor testing will not come proper home prize as large a share in teachers evaluations as Emanuel had wanted there will be a serious appeals process the teachers whom the school district wants to fire and laid off teachers will have priority in applying for new position now I know a little bit about Chicago school teachers and whatever our but let’s just say the Chicago school teacher is not what we might call the most desirable job on the planet if you seem like narrow self interested games for the teachers and their union think again teaching in inner-city schools is difficult and demanding job most of the children in Chicago’s public schools are poor families are struggling with all the issues resented by poverty many of the schools are in high crime areas and serious crimes often take place on school premises it can be a lot harder job than working for a hedge fund it will not be possible to get committed and competent people to teach in the public school system if they cannot began to need at least a limited amount of job security and respect the $70,000 annual pay the was ridiculed as excessive by so many pundits would not even be a week salary for many of the Wall Street types who do nothing more productive than shuffle paper now I’ve gone into that whole thing of reading those four paragraphs because I think this is a question that everyone will be asking themselves in the future small future coming future short-term future do you want people like Chicago teachers to get a pay rise which thinks more of something 18% over four years are think arm when they will be ready being paid 70,000 owed you say with little brackets that isn’t said behind I’m only getting paid so they should not be getting paid that glorious amount of salary because what I’m saying is working is being pitted against worker and each one is being mentally directed to go and say no he shouldn’t have that because I’ve only got this what I’m saying is workers are now dragging workers down to the lowest common whatever it can be forced to be low here all solidarity is being broken down and workers are dragging themselves down in the race to the bottom they are racing each other to the bottom tripping each other over in their desire to get to the bottom yet that is our future do we want this race to the bottom type future will do we applaud Chicago teachers unions for sticking up to Rahman manual and getting something more your choice finish with this and it’s the weekend I did this garden to 3 weeks ago this is from the breakdown of what Americans do at the weekend and it’s now the Everything was in their arms but I just die on and back to ours called back to it for another reason in hand and more of a look at it and this is the breakdown of leaves your over the over one day of all weekend playing games 8 min now this is everybody divided by and this is at a weekend day Saturday or Sunday take minutes playing games and this one 6 min being on the computer/Internet reading 16 min other 18 min reading 16 min and only 6 min on the Internet doesn’t seem much to me this video can be more than 6 min long I think it is so you’re properly not watching it, not talking to you so you don’t know whether I say have a good weekend or not by
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