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Unfortunately morons looking for double digit returns that likely won't get paid back. Probably CALPERS? Is that the correct acronym for what I think it is that I'm trying to make a bad joke about?
WookieMan saysUnfortunately morons looking for double digit returns that likely won't get paid back. Probably CALPERS? Is that the correct acronym for what I think it is that I'm trying to make a bad joke about?
Brilliant idea! Just have the insolvent states buy each other's debt. They could do this by kiting checks between themselves for a few years. Think of it as a massive circle that ends where all the participants simultaneously pivot to the left and insert their penis into the ass of the state next to them. State sanctioned sodomy at it's finest!
I'm on board with the sarcasm, hence my comment. But let's all be honest here, isn't this what is actually going on? Again, I dig the comment, but when does this not become funny anymore? For me in IL the chickens are coming home to roost. I literally have a contingency plan to move out of this state. I'm not kidding at all. Why should I need to do this? Oh wait, borrowing $100B will fix this.
I feel empathy for you but Illinois is not my problem.
Hell you may not be able to give the house away when the massive exodus is at its peak
Look at states like Ohio that have low property taxes and a moderate income tax
What moron is going to buy these bonds?
Illinois citizens are going to get raped in higher taxes, your services (infrastructure, education, welfare spending) will be cut, and bond holders are going to lose. But the pain can be alleviated somewhat if the government employees, Democrat politicians/judges and their unions agree to some pension reform.
Why is Ohio your least favorite state? I think that it is a very good state to live in.
My income tax is reasonable ~5%. My property taxes are low at about $2600 per year for a house that cost me $300 k to build. The sales tax is about 6%.
Ohio is also a state that respects civil rights.
The only thing that sucks are the winters. The summers however more than make up for it
Margaret Thatcher — 'The problem with socialism is that you eventually run out of other people's money.'
Illinois, and California in a nutshell.
OH is not bad-just the toll roads are a killer.
The only toll road that I am aware of is the Ohio Turnpike. It was cheap to use as well with an EZ pass. Chicago has toll roads all over the place. I commuted between Ohio and Chicago for a few years and there is only one complaint from me about Ohio. They enforce the speed limits so you had better not get caught speeding.
I just moved back to the DFW area and it reminds me of Shitcago. I think Dallas is just the "Chicago" of Texas. Dallas is also in trouble with pensions.
I can't even imagine the tv, radio, phone calls, etc
WookieMan saysI can't even imagine the tv, radio, phone calls, etc
I don't mind these ads. I get bored with the drug commercials and the political attack ads are a welcome distraction from the usual shit on TV.
'm looking more at AZ, CO, WY, MT, UT, TN, SC, NC and maybe GA north of Atlanta closer to the Smokies. I like weed so CO would probably be number 1 on my list right now.
CO is very expensive now though-looked into it
https://www.zerohedge.com/news/2018-02-01/its-baaaaack-illinois-privilege-tax-bill
Illinois Democrats are pushing again for passage of the “privilege tax”
https://www.zerohedge.com/news/2018-02-01/its-baaaaack-illinois-privilege-tax-bill
Illinois Democrats are pushing again for passage of the “privilege tax”
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If this goes down, we might see our first bankrupt state in our country. I don't get how they expect to produce income on the spread of the borrowed money vs. what they invest. IL already basically borrows at some of the highest rates in the country for a government body.
This is literally the equivalent of taking a cash advance on your credit card at 20% interest and then expecting returns of 30%. There's almost no scenario where this works out of IL citizens or the bond holders.
This is another reason I hate the back and forth on Trump. In the next 3 or 7 years if Trump is elected again, he will not even remotely have as much impact on my finances as my state legislative branch does. Next stop on the IL tax train is double digit income taxes. That will literally cost me $10k+ if we go 10% plus on IL income taxes. This is a when not if conversation. Thank god if it gets bad enough I can easily leave.