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What the cheer leaders fail to mention though is that everything else be it fees, licenses, etc... are on the verge of ridiculous. For instance, look up their vehicle registration costs, it is.. completely stupid as they make you pay a lot more based on the type, value, year, make, type of fuel it uses while in Texas, we pay a flat fee based simply on type, weight. The prices are night and day. Only in a liberal cesspool do they make you pay more for a stupid license because your car costs more. Go ahead, look up how they have to calculate it. It takes a special calculator from them to even figure it out and this is common for most things in CA..
The money has to come out of somewhere. In California it's at the state level, in Texas it's at the local level. Net result is the taxpayer in both states is on the hook for nearly the same amounts.
Except California's pension estimate is probably 1/2 trillion low....give or take.
I'd love to see someone do some legwork on TX, I've done enough heavy lifting in this thread.
However, they don't seem to be in nearly as bad of trouble given that the bond ratings are a clear tip-off to a states true debt ratio and California is at the bottom of the pack. If TX and other states had similar massively underestimated debts it would show up in their bond ratings too.
However, it would be interesting to see what sort of est. TX has for unfunded pension liability and what discount rate they are using.
The money has to come out of somewhere. In California it's at the state level, in Texas it's at the local level. Net result is the taxpayer in both states is on the hook for nearly the same amounts.
Arizona does the same thing and it is hardly a liberal cesspool. It is like paying more for your house because it is worth more.
^^^^Yep. Kansas also has a vehicle property tax. Curse you Kansas you liberal cesspool!
Seriously, most of the time people around here complain about liberals and conservatives it's immediately followed by a flurry of stupidity, misrepresentation and lies.
Except California's pension estimate is probably 1/2 trillion low....give or take.
I'd love to see someone do some legwork on TX, I've done enough heavy lifting in this thread.
However, they don't seem to be in nearly as bad of trouble given that the bond ratings are a clear tip-off to a states true debt ratio and California is at the bottom of the pack. If TX and other states had similar massively underestimated debts it would show up in their bond ratings too.
However, it would be interesting to see what sort of est. TX has for unfunded pension liability and what discount rate they are using.
I am speaking without solid knowlege but this might be hard to do, as Texas has Indpendant School Districts that are their own taxing autorities. I suspect to get your answer, you would have to do that math for all of them. and there are a BUNCH of them....
Except California's pension estimate is probably 1/2 trillion low....give or take.
I'd love to see someone do some legwork on TX, I've done enough heavy lifting in this thread.
However, they don't seem to be in nearly as bad of trouble given that the bond ratings are a clear tip-off to a states true debt ratio and California is at the bottom of the pack. If TX and other states had similar massively underestimated debts it would show up in their bond ratings too.
However, it would be interesting to see what sort of est. TX has for unfunded pension liability and what discount rate they are using.
Here's an article on funded pensions for states.
Texas showed 83% funded in 2011
CA showed 77% funded in 2011
I am speaking without solid knowlege but this might be hard to do, as Texas has Indpendant School Districts that are their own taxing autorities. I suspect to get your answer, you would have to do that math for all of them. and there are a BUNCH of them....
But pensions are still at the state level, even for teachers.
Our state leadership likes to pound their chest over the job growth but is dragging its feet on the other side of the equation (infrastructure needed to keep up with growth).
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