You need to marvel why we now have essentially the most incompetent folks in authorities, maybe in historical past. Whereas there’s not a single chief in Europe who I’d even need to have a drink with or shake arms, we see the identical on the LEFT in america. Regardless of how usually they need to rob anybody who produces and works for a dwelling, they appear incapable of studying from expertise. What is that this? The triumph of hope that Marxism will work sooner or later?
The mayor of Seattle, based on November thirteenth, 1851, of this fictional land they name the Emerald Metropolis, admitted that the town collected $47 million much less in payroll taxes final yr as giant corporations proceed to flee this Marxist waterhole. Based on the Seattle Instances, he mentioned that the anticipated the tax per head to usher in over $400 million in income as a substitute introduced in solely $360 million in 2024, leaving a deficit of $47 million payroll tax deficit that’s added to a $260 million finances deficit pushing Seatle over the dge.
Retailers perceive that they promote much less in the event that they increase costs with out bettering high quality. The LEFTIST Marxists REFUSE to have a look at human nature as a result of they’re too busy stuffing their pockets. DO NOT BUY DEBT from Seattle. We’re sliding right into a Sovereign Default as soon as once more, as within the 1840s, which was a interval often called the Laborious Instances due to the Sovereign Defaults of the States. That was set in movement by Andrew Jackson, founding father of the Democratic Get together, who shit down the central financial institution and that led to each state permitting banks to problem their very own cash. That led to fraud and Wildcat Banking. It was 1866 when the U.S. Authorities levied a ten% tax on the financial institution notes of state and personal banks, successfully forcing them to retire their forex. Jackson additionally demanded solely gold for the acquisition of federal land, which additionally undermined the non-public forex.
Whereas everybody factors to the Federal Reserve and the Federal Debt, the Feds even have the authority to create cash. The states DO NOT!!!! Whereas in concept the Feds can monetize their method out of a debt disaster, states CANNOT! We have now simply witnessed right here in Seattle the mindset of Blue states and the way harmful they’ve change into once we look ahead in time. Current analyses that we now have undertaken as much as 2023 have revealed that a number of U.S. states face vital fiscal stress that might elevate their danger of default.
As seen in Seattle, states are confined to adjusting budgets and elevating tax revenues. Key components contributing to danger embrace excessive debt burdens, unfunded pension liabilities, structural perpetual finances deficits, weak economics as the good migration from high-taxed states to lower-taxed states dominates post-2020, and the demographic developments of decreased inhabitants. Younger ladies are instructed to take pleasure in life, and the world has too many individuals, so we see the beginning charges collapsing all through the West. The states which might be usually highlighted as having elevated default danger:
Pension Liabilities: Illinois, Kentucky, and New Jersey have the worst-funded pension techniques.
Debt Load: Connecticut and Massachusetts lead in per-capita debt.
Financial Volatility: Alaska, Louisiana, and Hawaii face sector-specific dangers (oil, tourism).
Demographics: Illinois and West Virginia battle with inhabitants loss and shrinking tax bases.
We’re instructed that default is unlikely. Nevertheless, the states’ instruments to keep away from default, specifically tax hikes, have reached their limits. Individuals and firms are migrating. Whereas they prefer to say no state has defaulted because the Nice Melancholy, the town of Detroit suspended its debt cost in 1937 and eventually made good with the devaluation due to inflation in 1963. This was NOT confined to america. Canada additionally defaulted on its nationwide debt in 1931. By 1937, they have been additionally involved a few widespread default by the provinces.
The Democrats are nonetheless in denial about the reason for shedding the election to Trump. They aren’t reforming or surrendering their WOKE agenda. That is what ensures that we’re headed towards an enormous state default on money owed. We’re taking a look at a whole default by 2034.
As I wrote not too long ago about how states try to grab energy from municipalities, that is additionally about lining their pockets with more cash.
