Bluest States the Red

Discussion in 'Economy' started by UpAndAbout, Mar 28, 2012.

  1. UpAndAbout
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    UpAndAbout Active Member

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    Forbes: Bluest States Spilling The Most Red Ink | Rebuild Oregon

    The five states in the worst financial condition–Illinois, New York, Connecticut, California and New Jersey–are all among the bluest of blue states. The five most fiscally fit states are more of a mix. Three–Utah, Nebraska and Texas–boast Republican majorities and two–New Hampshire and Virginia–skew Democratic.
    The financial ranking of the states is part of a recent Forbes report on the Global Debt Bomb. The political affiliation data was compiled in a 2009 poll of 350,000 adults by Gallup Daily.

    Forbes’ metrics for each state included unfunded pension liabilities, changes in tax revenue, credit ratings, debt as a percentage of Gross State Product, debt per capita, growth expectations for employment and the state economy, net migrations and a “moocher ratio” that compares government employees, pension burdens and Medicaid enrollees to private-sector employment.

    In Pictures: Bluest States Spilling The Most Red Ink

    Why do Democratic states appear to be struggling more than Republican ones? It comes down to stronger unions and a larger appetite for public programs, according to Kent Redfield, professor emeritus of political studies and public affairs at the University of Illinois’ Center for State Policy and Leadership.
     
  2. Truthmatters
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    Good then can the blue states stop sending the red states their tax dollars?
     
  3. UpAndAbout
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    UpAndAbout Active Member

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    Oh, so THAT's why Gov Gregoire is cutting so many programs because she's sending out tax dollars to Utah? Got it!

    Gov. Chris Gregoire Cutting $2 Billion From Budget, Snubs $15 Billion 'Potential Revenue' - Seattle News - The Daily Weekly

    In announcing $2 billion more in budget cuts yesterday that will wipe out health insurance and medical services for more than 55,000 poor, Gov. Chris Gregoire weirdly has "not thought about revenue" to shore up those programs, she admitted, much less considered hacking away at corporate tax exemptions.


    As we first reported in 2004, when the state allowed 503 tax breaks worth $64 billion, and followed up last year when the number of exemptions had increased to 567 worth $98.5 billion in uncollected taxes, most of these billions are untouchable as revenue -- much of them properly granted, such as the pass given to governments, schools, hospitals, and churches from paying real estate taxes.

    But there is almost $15 billion that could be turned into revenue, should Olympia get tired of taking it out on the poor.

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    interesting! I thought it was the GOP who was "taking it out on the poor." We have been under Democrat rule for at least the last 40 years!
     

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