Posted on 02/19/2016 8:23:04 AM PST by SeekAndFind
Edited on 02/19/2016 8:37:24 AM PST by Admin Moderator. [history]
TRENTON -- Atlantic City may run out of money within three weeks after the Borgata casino announced Friday it will stop paying taxes until the city hands over $62.5 million in court-ordered tax refunds.
It's the latest in a long stretch of bad news for the financially ailing Jersey Shore gambling resort town, which has spent more than year reeling from the closure of four casinos -- a scenario that has decimated its tax base and led top New Jersey officials to announce a proposal last month for the state assume greater control of the city's finances to stave off municipal bankruptcy.
Bankruptcy! Its a good thing for democracy. Politicians and bureaucrats need a regular slap in the face from reality. It should happen much more often to governments than we allow it to.
Hemingway on bankruptcy. It happens gradually and then all at once.
Trumps Fault!
It would also be a healthy notice to lenders.
Don’t mess with the Mafia.
Hey!
I know!
Let’s legalize it and then tax it!
We’re only legalizing it to help the taxpayers!
What a great idea!
Yep, and a math lesson.
Can’t they just print some more?
This won't be said enough. It will be on the biased media 24/7.
“which has spent more than year”
“and led top New Jersey officials to announce a proposal last month for the state assume greater control”
More of the same incompetent editing that is everywhere these days.
The fall of the Boardwalk Empire.
The same Chris Christi who was a candidate for President and who has appointed Islamic Muslims to work in city jobs - with exorbitant salaries!
Maybe Chrissy should’ve been governing, and not wasting his time/money running for Prez. Unless he indeed whats to permanently do to the AC boardwalk what he did to that bridge.
Any financial organization (business, government, family or individual) that spends more than it takes in deserves to go bankrupt.
This obviously false establishment propaganda. Trump helped redevelop Atlantic City, so it must be THRIVING!
RE: Any financial organization (business, government, family or individual) that spends more than it takes in deserves to go bankrupt.
How about the US of A?
It’s the only “financial” organization that can produce money out of thin air.
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