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In the through-the-looking-glass, backwards Trump world, maybe so. The poster who put up that chart, added the note that "50 is worst". But that is wrong. 50 is the best rank for low state debt. Read the title that comes with the chart. It's called, "Total State Debt, as a percentage of GSP". So the state that ranks No. 1, would have the highest percentage of debt. Does anyone think that Hawaii, with its huge tourist income and high land values, would really have the highest percentage of state debt? Or that Alaska, with a low population and abundant natural resources, would be the 4th-highest in debt percentage?
No argument with your rationale but I went in a looked at the research and Hawaii, New Jersey & Alaska do have the highest debt and unfunded liability per GSP and Nebraska, Tennessee and Indiana are at the top for lowest debt and unfunded liability to GSP ratio. So the table should have said the best to worst states in terms of debt and unfunded liability to GSP.
No matter how much they tax, they still have huge deficits. The west is in a huge economic bubble and yet deficits galore in these liberal states.
The liberals have shown time and time again that no matter how much they tax, it will never be enough as they will just hire more and more employees and higher them with huge pay packages with lavish pensions.
Arizona on the other hand with Republican leadership has surplus. While Oregon is taxing income at 9% for the Democratic governors waste, Doug Ducey and the Arizona Republicans are only taxing hard-working residents at 2.59%
5 words.
Left-Wing-Left-Coast-Socialism
Although since OR doesn't appear to have sales tax, that does balance things out a bit.
Although since OR doesn't appear to have sales tax, that does balance things out a bit.
SO how does one explain Washington state. We're supposedly just as Left Wing as the Oregon Quackers and Cali but we have no state income tax and our budget seems fine...to be honest, I don't have a clue how they do it but just thankful to be in the Evergreen state.
No matter how much they tax, they still have huge deficits. The west is in a huge economic bubble and yet deficits galore in these liberal states.
The liberals have shown time and time again that no matter how much they tax, it will never be enough as they will just hire more and more employees and higher them with huge pay packages with lavish pensions.
Arizona on the other hand with Republican leadership has surplus. While Oregon is taxing income at 9% for the Democratic governors waste, Doug Ducey and the Arizona Republicans are only taxing hard-working residents at 2.59%
AZ might have a surplus but don't let that fool you. AZ could care less about educating the kids nor could it care less about the health of it's citizens. It does care very well though about paving roads in which the registration fees are among the highest in the nation due to it taxing you on the value of the car you have. I guess it's all it can do anyways, just show you how nice the roads are..
SO how does one explain Washington state. We're supposedly just as Left Wing as the Oregon Quackers and Cali but we have no state income tax and our budget seems fine...to be honest, I don't have a clue how they do it but just thankful to be in the Evergreen state.
Budgets are fine? California doesn't even have the money to maintain a dam so that it doesn't collapse due to heavy rain. And that is just one example.
Budgets are fine? California doesn't even have the money to maintain a dam so that it doesn't collapse due to heavy rain. And that is just one example.
Waldo, I live in Washington state, we have no state income tax, reasonable property taxes, good schools, good roads....we got it good, I have to say.
Cali is fine but I have no desire to pay their taxes, they seem okay with it though.
About the state mentioned, Oregon, I lived there for years and don't plan on going back. High taxes, low pay, but a beautiful state nonetheless.
it really does come down to the ridiculous pensions that allow public employees to retire at 50-55 with full benefits... in states with big budget deficits, this is one common characteristic.
A quick google search shows these states have some of the highest unfunded pension liabilities.. contrast that to the chart posted on the first page and the worst states per GDP are pretty similar to the ones with most pension debt...
in a 20 billion budget. Its not that big of a deal. Unlike many states we have a lot of capabilities to resolve it.
BTW our huge taxes (which arent)? We also have ZERO sales tax. whats yours?
It's over 10% in some areas! We have a ridiculous sales tax.
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