Posted on 04/15/2020 6:34:43 PM PDT by Bruiser 10
Another sudden and unexpected factor will transform this year’s elections. Many states, cities and counties are about to, suddenly, run out of money. Wages won’t be paid. Services won’t be delivered. Institutions will shut down abruptly. Many state colleges may fold. And yet most state and local political and administrative leaders just sit and watch. Voters will not be pleased.
Millions of American workers filed for unemployment insurance during the past two weeks. That is a record and represents a collapse of our local economies. Across the country, in every state, county and city, businesses have been shut down, and many will not return after the coronavirus crisis is over. Tens of millions have lost jobs, homes, savings and retirement incomes that will never return. Owners of rental property will go under when their loan payments come due and renters can’t pay. Across the country, state and local economies are being badly damaged — many of them permanently.
The result is that state and local tax revenues will plummet. States and localities will burn through any reserves they’ve maintained like wildfire. Since most of our politicians and government managers have been raised during a decade of expanding economies, their first instinct will be to wait and then panic and then raise taxes to cover shortfalls — perhaps a special “coronavirus surtax.” Taxpayers across the country have tolerated various forms of high state and local taxes; the politicians would naturally ask, “Why should now be any different?”
(Excerpt) Read more at thehill.com ...
I say that Trump waits till New York state is on a ventilator until the feds give NY the HCQ money cure for their ills...
‘There may not be as many choices for students for sports’
this is a terrible shame for the students; what unites and excites students more than a team making a run for the state title...?
Agreed, but has to be weighed against the economic realities of school districts which may have high unemployment which means it may be harderfor property owners to pay for large school tax levy increases.
It's not the best situation for kids, but there's new economic realties.
‘The Democrats and the media are feeding this Fear Monster.’
several on this very website are doing likewise, happily...
Our local school district (North Central Louisiana) is about to start whacking the payroll. Tuesday night school board meeting discussion about it.
>To hell with government workers, their gold plated retirement plans, and guaranteed jobs. It’s about time they felt the pain we suffer.<
Now that is ‘equality’ I could sign on to.
Disaster II: The leftist dream of a federal bailout for the bankrupt blue states.
I am a County Supervisor of a County of 220,000. We have 51 cases including 2 deaths. One of the deceased was 77 years old the other was 90. NINETY YEARS OLD. Our County government is doing fine, but it won’t if this is to go on. OPEN THE DAMN COUNTRY. Governor Ducey here in Arizona has been as good as you can possibly be by letting local governments do what they believe is right. OPEN THE DAMN COUNTRY.
The government officials and politicians shutting down their own economies ignored that they were massively reducing the very revenue streams they, the government, needs to exist. Soon the effects of their economic shutdown policies will snowball right through their own offices, engulfing them in it, depressing their economies even further.
You can bet all the Dem governors want big time bailouts. And then there are the cities. It is going to get ugly. There are going to be devastating shortfalls. State and city income tax revenues will be way down.
In a referendum passed by voters, FL MUST devote X dollars to buy up lands for “conservation.” It would warm my heart to know that Leftists in government lose their paychecks and benefits in order to comply with that law.
Michigan and Illinois are similarly burdened. The rest of government could shut down and exist only to fund pensions.
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