I've looked at various lists about which state is a top five default Risk

[Damaged Eagle]

No bail outs, period. Some of their crazy pension benefits need to be cut back. Other than those, all they have to cut is education and healthcare. Look at NY chasing HQ2 away??? WTF?? Some states can tax natural resources like Marcellus Shale gas, or oil, or just tax the hell out of gasoline or state income or sales tax.

They'll just do what Illinois has been doing, for the last decade or more, and tell the poor to move to Iowa where there's still money in the welfare system.

Bunch of bureaucratic BS that shouldn't be allowed.

*****SMILE*****

 

[william the wie]

Just wait and Trump/Barr can send in Special counsels to uncover corruption at the state and local levels. After that gets everyone's attention there will be a large number of congressional and lobbyist retirements in DC.

 

[Toddsterpatriot]

My guess is California and Illinois will face the music. They can't tax their citizens any more than what they have. I know someone who lives in Illinois and their house is worth 1/2 of mine, if that. They pay $7,000 in property taxes and I pay $2300 in Tennessee with no state income tax.

Illinois tried to reform their pension system.
Higher contributions, smaller benefits for new entrants to the system.
The Illinois Supreme Court declared the change unconstitutional.
We're screwed. I'll move out of state before it implodes.

Why didn't they take it to the Supreme Court?

The Illinois Constitution ……..

SECTION 5. PENSION AND RETIREMENT RIGHTS
Membership in any pension or retirement system of the
State, any unit of local government or school district, or
any agency or instrumentality thereof, shall be an
enforceable contractual relationship, the benefits of which
shall not be diminished or impaired.


Illinois Constitution - Article XIII

Sounds like Illinois needs a State Constitutional Convention to change some of these laws that are debilitating to the state. It's time!

Yeah, with the Dems in charge of the state, the last thing they're going to do is reduce the pensions of government workers.

 

[Toddsterpatriot]

My guess is California and Illinois will face the music. They can't tax their citizens any more than what they have. I know someone who lives in Illinois and their house is worth 1/2 of mine, if that. They pay $7,000 in property taxes and I pay $2300 in Tennessee with no state income tax.

Illinois tried to reform their pension system.
Higher contributions, smaller benefits for new entrants to the system.
The Illinois Supreme Court declared the change unconstitutional.
We're screwed. I'll move out of state before it implodes.

Yep, time to go.

My career is semi portable, my wife just took a job a year ago with the agreement she would stay in it for at least 2 and our son is just getting to school age.

Our plan is to move in 1 year when her obligation is up and she can post for another position within her company. as others have stated, the property taxes are ridiculous. that's just money in the wind. I am sick of it, see literally no end in sight and fully expect more of it under Pritzker, especially with Madigan and the dems running the state capitol.

We have the highest property taxes in the country.
At least it's balanced by our high sales taxes.
LOL!

 

[deanrd]

Where is any mention of the Appalachian area. That’s where all the poor people live. Excuse me, poor white people.

Funny that the same people that complain about budgets not being balanced are the very same people that will give trillions in tax breaks to billionaires and corporations.

 

[Jackson]

My guess is California and Illinois will face the music. They can't tax their citizens any more than what they have. I know someone who lives in Illinois and their house is worth 1/2 of mine, if that. They pay $7,000 in property taxes and I pay $2300 in Tennessee with no state income tax.

Illinois tried to reform their pension system.
Higher contributions, smaller benefits for new entrants to the system.
The Illinois Supreme Court declared the change unconstitutional.
We're screwed. I'll move out of state before it implodes.

Yep, time to go.

My career is semi portable, my wife just took a job a year ago with the agreement she would stay in it for at least 2 and our son is just getting to school age.

Our plan is to move in 1 year when her obligation is up and she can post for another position within her company. as others have stated, the property taxes are ridiculous. that's just money in the wind. I am sick of it, see literally no end in sight and fully expect more of it under Pritzker, especially with Madigan and the dems running the state capitol.

We have the highest property taxes in the country.
At least it's balanced by our high sales taxes.
LOL!

That's where Tennessee has a black eye. Sales tax above 9%

 

[Fueri]

My guess is California and Illinois will face the music. They can't tax their citizens any more than what they have. I know someone who lives in Illinois and their house is worth 1/2 of mine, if that. They pay $7,000 in property taxes and I pay $2300 in Tennessee with no state income tax.

Illinois tried to reform their pension system.
Higher contributions, smaller benefits for new entrants to the system.
The Illinois Supreme Court declared the change unconstitutional.
We're screwed. I'll move out of state before it implodes.

Yep, time to go.

My career is semi portable, my wife just took a job a year ago with the agreement she would stay in it for at least 2 and our son is just getting to school age.

Our plan is to move in 1 year when her obligation is up and she can post for another position within her company. as others have stated, the property taxes are ridiculous. that's just money in the wind. I am sick of it, see literally no end in sight and fully expect more of it under Pritzker, especially with Madigan and the dems running the state capitol.

We have the highest property taxes in the country.
At least it's balanced by our high sales taxes.
LOL!

It is ridiculous. My standard line on the property taxes is "it's not like this is Malibu or something" lol.

 

[Toddsterpatriot]

My guess is California and Illinois will face the music. They can't tax their citizens any more than what they have. I know someone who lives in Illinois and their house is worth 1/2 of mine, if that. They pay $7,000 in property taxes and I pay $2300 in Tennessee with no state income tax.

Illinois tried to reform their pension system.
Higher contributions, smaller benefits for new entrants to the system.
The Illinois Supreme Court declared the change unconstitutional.
We're screwed. I'll move out of state before it implodes.

Yep, time to go.

My career is semi portable, my wife just took a job a year ago with the agreement she would stay in it for at least 2 and our son is just getting to school age.

Our plan is to move in 1 year when her obligation is up and she can post for another position within her company. as others have stated, the property taxes are ridiculous. that's just money in the wind. I am sick of it, see literally no end in sight and fully expect more of it under Pritzker, especially with Madigan and the dems running the state capitol.

We have the highest property taxes in the country.
At least it's balanced by our high sales taxes.
LOL!

That's where Tennessee has a black eye. Sales tax above 9%

In Chicago it's over 10%.

 

[Harry Dresden]

California is scheduled to raise our minimum wage. Higher paid labor pays more in taxes and create more in demand.

its only 50 cents danny,it aint going to do much....

 

[Damaged Eagle]

In Chicago it's over 10%.

When it's that high it's called wealth redistribution. Of course the only ones having to redistribute their wealth are the middle class working man/woman (plumbers, carpenters, electricians, truck drivers, etc,...) because they're the ones hit the hardest by it while the bureaucrats, doctors, lawyers, accountants, etc,... just raise their prices to compensate for their lifestyle.

*****SMILE*****

 

[danielpalos]

California is scheduled to raise our minimum wage. Higher paid labor pays more in taxes and create more in demand.

its only 50 cents danny,it aint going to do much....

it is scheduled to go up to fifteen dollars an hour, eventually.

 

[Aldo Raine]

I will tell you who is at the top of the heap, the state of Ontario...we're finished...

You are calling for a global mess?

No, just a provincial one in Ontario which ill impact Canada greatly.

We grew at .4 of 1% last year. We're in trouble.

Indeed you are. The debates and revisions looks like we may be north of 4% by the time of the 2020 election.

Had not heard that one, not knocking it wondering if you have a link to those kind of numbers?

 

[Kondor3]

So, what reasonable action can be made to start these states on the road to recovery>? Can their state legislature pass laws that would force the state to make fiscal changes?

The only way Illinois recovers is if it disowns Chicago and gives it to another State or lets Chicago apply for Statehood on its own.

Except for islands of White on the North Side, most of Chicago is a third-world $hithole nowadays, anyway.

The White Flight of the 1940s thru 1960s in Chicago is complete.

Most of the third- and fourth-gen White "Chicagoans" are well outside the City limits in the further reaches of Cook County and beyond.

Illini have been keeping Democrat-controlled Chicago propped-up for decades.

The rest of Illinois has reached a state of Donor Exhaustion... they're tired of carrying their own water AND Chicago's.

 

[Harry Dresden]

California is scheduled to raise our minimum wage. Higher paid labor pays more in taxes and create more in demand.

its only 50 cents danny,it aint going to do much....

it is scheduled to go up to fifteen dollars an hour, eventually.

a while from now....and wait until all those above them minimum wage people ask for their raises...

 

[DustyInfinity]

So, what reasonable action can be made to start these states on the road to recovery>? Can their state legislature pass laws that would force the state to make fiscal changes?

The only way Illinois recovers is if it disowns Chicago and gives it to another State or lets Chicago apply for Statehood on its own.

Except for islands of White on the North Side, most of Chicago is a third-world $hithole nowadays, anyway.

The White Flight of the 1940s thru 1960s in Chicago is complete.

Most of the third- and fourth-gen White "Chicagoans" are well outside the City limits in the further reaches of Cook County and beyond.

Illini have been keeping Democrat-controlled Chicago propped-up for decades.

The rest of Illinois has reached a state of Donor Exhaustion... they're tired of carrying their own water AND Chicago's.

I feel for you. I'm a Hoosier, and I go to Illinois often. Beautiful people and beautiful land.

 

[DustyInfinity]

No bail outs, period. Some of their crazy pension benefits need to be cut back. Other than those, all they have to cut is education and healthcare. Look at NY chasing HQ2 away??? WTF?? Some states can tax natural resources like Marcellus Shale gas, or oil, or just tax the hell out of gasoline or state income or sales tax.

View attachment 248466

They'll just do what Illinois has been doing, for the last decade or more, and tell the poor to move to Iowa where there's still money in the welfare system.

Bunch of bureaucratic BS that shouldn't be allowed.

*****SMILE*****

I hadn't heard about the Chicago Drift to Iowa. Failed states hurt everyone.

 

[Jackson]

So, what reasonable action can be made to start these states on the road to recovery>? Can their state legislature pass laws that would force the state to make fiscal changes?

The only way Illinois recovers is if it disowns Chicago and gives it to another State or lets Chicago apply for Statehood on its own.

Except for islands of White on the North Side, most of Chicago is a third-world $hithole nowadays, anyway.

The White Flight of the 1940s thru 1960s in Chicago is complete.

Most of the third- and fourth-gen White "Chicagoans" are well outside the City limits in the further reaches of Cook County and beyond.

Illini have been keeping Democrat-controlled Chicago propped-up for decades.

The rest of Illinois has reached a state of Donor Exhaustion... they're tired of carrying their own water AND Chicago's.

I feel for you. I'm a Hoosier, and I go to Illinois often. Beautiful people and beautiful land.

Perhaps they should just bulldoze the city limits and make it into farm land. Chop it into 5 acre lots and give the land to those who qualify for a mortgage for a home and a loan for tractors. They have to live on the land for ten years.

 

[DustyInfinity]

Chicago, disarmed, tax hell, high concentration of illegals. Democrat paradise, and they want to do that to the rest of the country.

 

[DustyInfinity]

Question for both Mac and Golfingator.

Mac, you are an intelligent believer of big government. You talk about degrees of government control. What are your thoughts on Chicago? I'm pretty sure you'll leverage the well known corruption, but at this point doesn't government and corruption mean the same thing? Is there any way to safeguard national programs from Chicago style corruption?

Gator, you are very fiscally aware, and you also bash Republicans about tax cuts. My question for you involves Chicago. They have been taxed to death. It is almost impossible to tax these poor people any more. Do you still think people should or even can give up everything to try to support this kind of insane spending? No blood left in the stone.

 

[william the wie]

I will tell you who is at the top of the heap, the state of Ontario...we're finished...

You are calling for a global mess?

No, just a provincial one in Ontario which ill impact Canada greatly.

We grew at .4 of 1% last year. We're in trouble.

Indeed you are. The debates and revisions looks like we may be north of 4% by the time of the 2020 election.

Had not heard that one, not knocking it wondering if you have a link to those kind of numbers?

Not hard numbers but CNBC, Bloomberg, WSJ and Fed chair testimony include 4+% within the range of possibility If:

a laundry list of conditions are met.

The big maybe is that Job openings being larger than the number job seekers has never been recorded before even in time of war.