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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Illinois – Poster Child for the Coming Sovereign Debt Crisis

    Lobo
    Lobo
    Lobo
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    Join date : 2013-01-12
    • Post n°1

    Illinois – Poster Child for the Coming Sovereign Debt Crisis Empty Illinois – Poster Child for the Coming Sovereign Debt Crisis

    Post by Lobo Thu 06 Jul 2017, 2:42 pm

    Illinois – Poster Child for the Coming Sovereign Debt Crisis Illinois-Road-Tax
    Illinois House had voted 72-45 to pass a 32% income tax hike as government refuses to address the real issue of a never-ending need for more and more tax revenue to keep state employees rolling in their pensions. The governor vetoed the tax increase and he was overriden.
    There is absolutely no hope for Illinois. Just sell its debt for there is no long-term fix for this state of any state for that matter. We are facing a major Sovereign Debt Crisis at the state and municipal level that will eventually bring down governments on a wholesale basis.
    The policies of just tax’em til they die and they tax their heirs is coming to an end. Governments will collapse and the only solution is to limit government by a new constitution that it may not consume greater than 15% of GDP on a federal, state, and local level combined. Employment should primarily be outsourced and private entities should bid to run various departments. That will eliminate government pensions, which is the monumental source of the real crisis.
    We can do this, but we have to crash and burn first. Government will NEVER simply surrender power without a fight.
    https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/illinois-poster-child-for-the-coming-sovereign-debt-crisis/
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