Ray9
Diamond Member
- Jul 19, 2016
- 2,707
- 4,507
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- Banned
- #1
The economic toll of the Wuhan virus may be as bad or worse than the physical damage. States that rely on income taxes will be especially hard hit. Millions have lost jobs that will be slow to return and many of those jobs will never come back. The restaurant and hospitality industries are already devastated and may just disappear in many cities as leery citizens avoid close contact, crowded venues and postpone vacations.
The deadly contagious effect of the pathogen will bring about cultural shifts catastrophic to tourism and the dollars that go to taxes in areas that already support an underclass dependent on benefits from that taxation. Cities and towns will have to make tough decisions that could eliminate funding, and this will lead to unprecedented surges in crime causing a fearful exodus of urban areas by taxpaying citizens.
Officials will try to raise tax rates on income, gasoline, property, cigarettes, and liquor but this will lead to wide resistance among those still working. Violent crime and murder rates will soar as fentanyl and opioid use increases. If a useable vaccine takes a year, an economic recession will be unavoidable. Some communities will become lawless and essentially turn into dangerous ghost towns.
That is just one aspect of the scourge; the rest is too scary to contemplate. Hold on, there is tough sledding ahead.
The deadly contagious effect of the pathogen will bring about cultural shifts catastrophic to tourism and the dollars that go to taxes in areas that already support an underclass dependent on benefits from that taxation. Cities and towns will have to make tough decisions that could eliminate funding, and this will lead to unprecedented surges in crime causing a fearful exodus of urban areas by taxpaying citizens.
Officials will try to raise tax rates on income, gasoline, property, cigarettes, and liquor but this will lead to wide resistance among those still working. Violent crime and murder rates will soar as fentanyl and opioid use increases. If a useable vaccine takes a year, an economic recession will be unavoidable. Some communities will become lawless and essentially turn into dangerous ghost towns.
That is just one aspect of the scourge; the rest is too scary to contemplate. Hold on, there is tough sledding ahead.