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Illinois Will Be The Poster Case For State Bankruptcy
Forbes ^ | June 5, 2020 | Ike Brannon

Posted on 06/09/2020 9:36:29 AM PDT by re_tail20

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To: re_tail20
Illinois Will Be The Poster Case For State Bankruptcy

Sad! I always thought it would be NY or Ca. Oh well!

21 posted on 06/09/2020 10:47:56 AM PDT by Don Corleone (The truth the whole truth and nothing but the truth)
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To: cgbg

Northwestern Indiana is an available alternative for many Illinoisans who wok in downtown Chicago. There’s even a commuter railroad for them to use, the Chicago South Shore & South Bend RR, or its present successor that runs to South Bend Indiana. Should be interesting to see what happens to all the south suburbs of Chicago, since many of their residents could move to the South Bend area.


22 posted on 06/09/2020 10:53:37 AM PDT by libstripper
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To: re_tail20
Conceptually there is a simple solution to this:

First ask you favorite liberals if there is anything you can have that they can't tax. They'll doubtless say no, we can tax anything we dang well please.

Fine, tax the REAL rich. Have them tax government pensions. Illinois constitution says they can't reduce government pensions, it doesn't say they can't tax them! The rates can be as progressive or flat as they like, but the net should be calculated to make their budgets balance. And withhold the taxes from their pension checks so they can't cheat.

Do not tax private pensions as private folks haven't spent decades being given current pay raises in lieu of pension contributions through political sweetheart deals. If some of the fat cats have to sell off second boats or third houses so there's money left to pay for basic services to the peons, so be it. They've been ripping us off long enough. If they do this soon we might let them keep their heads.

23 posted on 06/09/2020 12:01:30 PM PDT by JohnBovenmyer (waiting for the tweets to hatch)
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To: re_tail20

I can’t believe Illinois is going to beat us in California to Bankruptcy, I fully expect Governor Wonder Boy here in CA. to Double Down and try to get to the Finish line first.


24 posted on 06/09/2020 3:31:06 PM PDT by eyeamok
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