Will The Rest of the US Be In The Same Financial Shape as Chicago and California?

J

JustSplendid

New member
Actually, the problems in Chicago stem from the fact that midwestern cities have been based on industrial work. Factories are now moving overseas or shutting down completely, or people are being replaced by machines in factories, leading to loss of jobs. Factories would pay 15-20 dollars an hour, so it was a good way for a family to make a living without attending school. Now these people are jobless and without an education, and no other job with a HS diploma will offer the same pay with benefits. THAT is where Chicago's problems have come from, same as Detroit and other industrial cities, mainly in the midwest. Financial hardship leads to more crime which leads to more laws. It's a fact of life. I don't know what California's problem is, but reality is that ALL of American is going through a hardship right now. Oh, and my father owns a small business, four employees, and he is able to pay my out of state tuition in cash, so I wouldn't say any bans are running him out.
 
Is It Due To High Taxes? Ruining Small Business With All Their Bans? Or All The Idiots From The Village Mismanaging Money of The Taxpayers?
 
If you are to look at all the states in trouble IE... California, Illinois, New York. They are the ones with the highest taxes. Makes you wonder if there is something to this lower taxes thing. Oh and the Governor of Illinois wants to raise taxes higher.
 
MOST LIKELY

BUT NOT DUE TO HIGH TAXES


BUT LOW TAXES

as we were warned before and the G O P was just too smart to listen


Haven't the Republicans learned YET what happens when you DON'T tax the richest people in the USA ?

May, 2001
The Effects of the Bush Tax Cuts on State Tax Revenues


President Bush's proposed reductions in federal taxes are now under consideration in Congress. They include sharp cuts in personal income tax rates, new income tax breaks, and complete repeal of the federal estate tax. Although the tax cuts have been slightly scaled back in size by the congressional budget resolution, they still are expected to cost the federal government some $1.7 trillion over the next decade (including higher interest payments).

State and local governments, which rely on federal payments and programs for significant shares of their revenues, could find those funds endangered should the Bush tax cuts be enacted. The President's budget outline, for example, projects that to pay for the cost of the tax cuts, federal appropriations will fall by a sixth as a share of the gross domestic product over the next decade. Domestic appropriations could be cut even more given the President's apparent desire to increase defense outlays.


AND THEY DID COST over $1.7 Trillion

ERGO

we are in Deep Doo Doo
 
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