Josh Barro, Columnist

California's Fiscal Delusion, and America's

November 2, 2012 at 4:34 PM EDT

Josh Barro is the lead writer for the Ticker, Bloomberg View's blog on economics, finance and politics. His primary areas of interest include tax and fiscal policy, state and local government, and planning and land use. Previously, Barro was a Senior Fellow at the Manhattan Institute for Policy Research and a commercial real estate banker at Wells Fargo. He holds a bachelor's degree in psychology from Harvard and lives in Queens, New York.

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I spent most of the last week in Los Angeles. And when I discussed Bloomberg View's recent editorial on California -- the one that argues Californians should relax their property tax limits instead of raising taxes again on high incomes -- with the locals, they generally did not receive it well.

The three most common reactions I heard were these:

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