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Obviously the best states to do business in are the states recieving the most Federal subsudy money compared to the taxes they send to Washington DC. These are mostly midwestern and mountain RED states. No surprise there.
Obviously the best states to do business in are the states recieving the most Federal subsudy money compared to the taxes they send to Washington DC. These are mostly midwestern and mountain RED states. No surprise there.
Yeah, low taxes, and less bureacracy have nothing to do with it!
THe article speaks of California, Illinois, and New Jersey. What do these all have in common?
Again-- the article doesn't mention anything about states being good or bad to do business in. I can certainly tell you that there are some pretty large corporations based in those states though.
Again-- the article doesn't mention anything about states being good or bad to do business in. I can certainly tell you that there are some pretty large corporations based in those states though.
Whitney says Illinois and New Jersey are the “worst” states when it comes to the negative feedback loop “because they have been doing it the longest.” Illinois’ public pension systems are the most underfunded among all U.S. state pension systems, with assets equal to just 43% of liabilities, meaning the pensions are 57% underfunded. Last week, the Illinois state legislature ended its latest session failing to adopt any type of fix, so Fitch Ratings downgraded the state’s credit rating, which is already the lowest in the nation. New Jersey’s public pensions are better funded than Illinois’ pensions but that’s not saying much. Public pension assets in New Jersey cover only about 65% of liabilities leaving the state $47 billion in the hole as of fiscal 2012.
Can you not put one and one together here ? Seriously?
Whitney says Illinois and New Jersey are the “worst” states when it comes to the negative feedback loop “because they have been doing it the longest.” Illinois’ public pension systems are the most underfunded among all U.S. state pension systems, with assets equal to just 43% of liabilities, meaning the pensions are 57% underfunded. Last week, the Illinois state legislature ended its latest session failing to adopt any type of fix, so Fitch Ratings downgraded the state’s credit rating, which is already the lowest in the nation. New Jersey’s public pensions are better funded than Illinois’ pensions but that’s not saying much. Public pension assets in New Jersey cover only about 65% of liabilities leaving the state $47 billion in the hole as of fiscal 2012.
Can you not put one and one together here ? Seriously?
State budgets and doing business are two different things. The US has an awful budget, but it's one of the better countries in the world to do business in.
State budgets and doing business are two different things. The US has an awful budget, but it's one of the better countries in the world to do business in.
THe US is different than individual states. Individual states just cant print money. DO you think it's a coincidence that states that have larger debt obligations also have higher taxes? Those public pensions and the overpromising of them need to paid somehow. Why do you think it is Illinois raised both PERSONAL STATE income taxes and BUSINESS taxes at the same time two years ago?
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