Dandy Don is warming up to sing for Illinois...
Posted on 06/28/2017 7:41:14 AM PDT by Leaning Right
“Something has to give. I pray we Illinois property owners won’t be forced to pay the bill.”
I think the key here is the SCOTUS. What we can’t have is some MFers in black robes making illogical decisions and forcing them on the states. I know that in the recent municipal bankruptcies here in CA, the bankruptcy courts stated that the entities could give the PE pensions a “haircut” as part of the restructuring. Unfortunately, the governments involved elected to forego that avenue, and as a consequence really didn’t fix their budget problems and will most likely be bankrupt again in the very near future.
In Canada, provincial lotteries are not taxable. Simply, it’s a game of chance 1 in near 14 million for Ontario’s 6/49 lottery. But Stock profits are taxable as income but not lotteries. Is there a difference between “winning versus income”?
Connecticut, unlike Illinois, is close enough to Wall Street and the mass media companies in New York City that the state won’t go down very soon. Indeed, some of the richest counties in the USA are in southwestern Connecticut within commute range of Manhattan itself.
The winner would be wise to take the one lump sum payout before there’s not left in the bucket.
Lemme guess, they’ll be whining for the rest of us to bail them out. Trump and the congresscritters better not do it.
The IL state constitution is clear that pension obligations must be paid.
That is the legally correct ruling. Doesn’t mean it is possible.
IL stopped paying the lottery commission, and started taking the payouts for themselves.
That is why Powerball is pulling out. Which is kind of funny in a way. Powerball has a rather, shall we say, interesting history not not paying its obligations to the states on time.
>> Bankruptcy is the only way we are going to get the RATs out of our state governments.<<
You can’t get rid of democRATs in California with dynamite. Too many of the taker class (especially illegal voters which are limited in Federal welfare but not California welfare) and rich liberals who really aren’t affected.
You would have to empty the state and then let everyone come back one by one after passing a values test.
From what I understand, it's not necessarily a lack of money that stops payments greater than $25k. It has to do with statutory authority to make any payment greater than that amount. Absent a budget, they cannot pay because the law does not allow it.
States cannot go bankrupt. For insight as to what comes next, Greece might be an example to follow.
What happens to past winners who took their winnings through annual installments? Uh, oh. Whole lot of lumpin' goin' on out there...
“States cannot go bankrupt.”
I know that’s what it says in the Constitution, but when Illinois runs out of money, irrespective of what it says, the state will be functionally broke. I mean do you think anyone will sell them anything not knowing when or how they will be paid? I seriously doubt that even a black-robed turd, will be able to “force” the state to tax the citizens, because everyone knows where he lives. Anyway, it’s going to be “interesting” when Illinois goes tits up!
In its 1964 Reynolds v. Sims decision, scotus created a baloney one-man, one-vote standard for state legislative districts, including state senates. As a result, Chicago came to overwhelm Springfield and dominate the state.
That restriction makes Illinois lottery tickets even more worthless than they were when the state was solvent.
DO NOT BUY ILLINOIS LOTTERY TICKETS!
Kick the state's last revenue source out from under it, and let it swing!
Let Social Security substitute for same.
Dandy Don is warming up to sing for Illinois...
This ruling has had the same deleterious effect here in California. It has made the voting power of the large cities overpowering as well. Plus, we have a situation where “total census populations” are used to craft legislative districts resulting in more districts residing in the large cities. The large numbers of non-citizens that are counted and used to create the urban legislative districts are exacerbate the problem of too much legislative power being given in those areas.
The more democracy the better! /s
Wait a minute, wasn’t the MegaM winner in IL?
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