Posted on 05/16/2020 2:32:03 PM PDT by MeneMeneTekelUpharsin
Another major crisis is arising. Cities and towns across the United States have seen a MAJOR drop in sales tax revenue. This is going to lead to extreme financial duress for these municipalities. What happens next?
Confiscatory wealth taxes?
Slave Labor?
Do what us peasants have to do.
CUT SPENDING!
Tax hikes galore coming along with hands out begging for fed bailouts. Taxpayers will get triple zapped at local/state/Fed tax levels which will then result in entitlement increases for that $20 loaf of bread.
-1- Localities issue bonds.
-2- The Fed buys the bonds.
:-(
We’ve got a sales tax election in July in our county for teachers. It’s going to get creamed, since the teachers all got a two month paid vacation.
That may happen, but the Fed is not supposed to be buying those.
Privatize trash collection. But NOT to mob-owned businesses.
“What happens next?”
They open the doors to commerce.
It’s Trump’s ultimate trump card.
They have to open the doors or they will not survive fiscally.
Sales & property taxes increase dramatically.
Don't worry, it'll only affect that other guy -- the "rich" one.
The smart move would be to cut nonessential spending. If receipts are down by, say, 30% then cut spending by 30%. But that doesn’t mean that all areas should get equal cuts.
Those “fact-finding” trips to Europe? Gone. The funding is cut 100%. That stupid LGBTQ outreach program? Gone. The funding is cut 100%.
Of course we know that won’t happen. Instead a few fire houses will be closed. And taxes will be raised.
Good point!
Open for business
since the teachers all got a two month paid vacation.”
Right so a nine month position became a seven month position.
I expect the Teachers Unions to use Fauci’s advice to try to keep the distance learning going I think many teachers are liking working from home.
They should be careful what they wish for. Lots and lots of teachers and “support staff” would lose their jobs if online learning catches on.
Just can’t WAIT, to see when Nancy Pelosi is going to take a CUT in her salary, and Diane Feinstein, saying WE CAN DO BETTER THAN TRUMP, IF HE DOESN’T TAKE HIS CHECK, WE’LL DO THE SAME. Let’s see them better his record. Joe Biden and Obama could take a cut in their retirment.? Lets see POLitICIANS take a little loss, like the farmers who dump their milk... and herds of cattle being destroyed. END Career Politicians.
Fire their employees, default on their debt and pensions, etc.
Open Season on productive Americans, but illegals will remain a protected class.
ESL expansion, job retraining for Americans cut.
Higher sales, State, and property taxes.
Gov. will grow faster, our freedoms will diminish, and we will pay more.
AKA, the same old same old.
What happens if the government shuts down retail and service businesses including the health care system? No sales equals no sales tax, duh.
Who couldn’t see that one coming?
Except the dems.
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