"The police aren’t policing and the teachers aren’t teaching.
While many vital services aren’t functioning, the useless machinery of the bureaucracy grinds on with no one to pay for it.
- Locked down businesses don’t generate revenues and the unemployed aren’t a tax base.
- Tax revenues in New York City fell 46% in June.
- A third of small businesses in the city are likely to shut down for good and sales tax collections are down by a quarter amounting to $1.2 billion.
- Statewide, there's a 37% drop ...
- State revenue shortfalls are heading toward $200 billion and over $500 billion by 2022
- as the wealthy flee urban areas, tourists are banned from even thinking about visiting, and businesses keep going out of business.
- California tax revenues are down 42% and the state is being throttled by a $54 billion deficit.
- New Jersey's state government reacted to a 37% fall with up to a $10 billion borrowing spree.
- Illinois is down 23% and looking to borrow $5 billion even as its pension bomb ticks away.
- Hawaii tax revenues fell 34% and the state, which lives off tourism is looking at a $2 billion hole. There was talk of pay cuts for public workers, which was shrugged off for a borrowing spree.
- Oregon tax revenues fell 53% leaving a $2.7 billion hole.
- Minnesota is eyeing a 29% decline.
- Colorado is down 28% and is cutting a quarter of its budget.
- Tax revenues are down 29% in Massachusetts,
- Connecticut is down 33%,
- Pennsylvania at 25%, and
- Wisconsin is down 22%.
- After Seattle faced a $378 million tax revenue shortfall, the city whose business community had already been devastated by the lockdowns and the Black Lives Matter riots, including the CHAZ/CHOP occupied zone, decided that the solution was to raise taxes on businesses.
...Downtown, burglaries shot up 87%.while the overall Seattle burglary rate was up 44%.
What are businesses getting in exchange for battling lockdowns and paying higher taxes?
The Seattle PD's guidelines are that "non-violent" offenders should be "interviewed and released". Businesses are being hit with higher taxes without being protected from crime.
...Chicago, where crime has also skyrocketed, is moving toward a property tax increase.
Taxpayers are on the hook for funding governments that no longer provide basic services, like security and education, but expect even more money to fund a bureaucracy and welfare state.
The unpleasant, worthless, and destructive elements of municipal, county and state governments used to be a sidebar to the core services that taxpayers actually wanted.
Every tax increase was justified as being necessary for the schools and the cops.
Now there are no functioning schools and the cops are keeping their heads down and making few arrests.
Taxpayers are paying more taxes, but getting next to nothing for the money they pay...Read all.
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