A blog
by John A. Sarkett
A collection of compelling features, news stories, commentaries, ideas
Friday, September 29, 2017
Thursday, September 28, 2017
Wednesday, September 27, 2017
Tuesday, September 26, 2017
Saturday, September 23, 2017
Illinois' Kamikaze Bondholders Cheer Massive New $6 Billion Bond Deal: "It Has Turnaround Potential" | Zero Hedge
Illinois' Kamikaze Bondholders Cheer Massive New $6 Billion Bond Deal: "It Has Turnaround Potential" | Zero Hedge
"Last time we checked, non-residents weren't on the hook to pay Illinois taxes..."
Must read entire piece re pension funds, etc.
"Last time we checked, non-residents weren't on the hook to pay Illinois taxes..."
Must read entire piece re pension funds, etc.
Tuesday, September 19, 2017
Monday, September 18, 2017
Pension Storm Coming: "This Will Become One Of The Most Heated Battles Of My Lifetime" | Zero Hedge
Pension Storm Coming: "This Will Become One Of The Most Heated Battles Of My Lifetime" | Zero Hedge
Here in Dallas I pay about 2.7% in property taxes. When I bought my home over four years ago, I checked our local pension and was told we were 100% funded. I even mentioned in my letter that I was rather surprised. Turns out they lied. Now, realistic assessments suggest they will have to double the municipal tax rate (yes, I said double) to be able to fund fire and police pension funds. Not a terribly popular thing to do. At some point, look for taxpayers to desert the most-indebted cities and states. Then what? I don’t know. Every solution I can imagine is ugly.
Here in Dallas I pay about 2.7% in property taxes. When I bought my home over four years ago, I checked our local pension and was told we were 100% funded. I even mentioned in my letter that I was rather surprised. Turns out they lied. Now, realistic assessments suggest they will have to double the municipal tax rate (yes, I said double) to be able to fund fire and police pension funds. Not a terribly popular thing to do. At some point, look for taxpayers to desert the most-indebted cities and states. Then what? I don’t know. Every solution I can imagine is ugly.