Should US taxpayers bail out Illinois when they default? (military, companies, dollar)

[Travel Crazy]

No, Illinois should serve as the poster child for what happens when a state behaves irresponsibly and is reckless with taxpayer money.

That story should be covered endlessly to provide a clear example of what the downside looks like. Too many people are simple, emotional dreamers and don't understand what REALITY looks like when you F**k up big time. Let's show them.

[AlongTheI-5]

Originally Posted by Biker53

Even if that were true it is the blue States that are going broke.

That's because the red states mooch off of us.

[woxyroxme]

These are the same geniuses that sent Obama to the senate over Alan Keyes, they caused me too much trouble to get my pity.

[Travel Crazy]

Originally Posted by nicet4

I don't understand why they just don't double a property tax that would fix everything.

You are joking, I assume? People with working brains saw the writing on the wall a couple years ago and many, many have been leaving the state since. Fewer people and businesses to tax.

FYI....property taxes go to local municipalities, not the state.

[LordSquidworth]

Originally Posted by Biker53

Even if that were true it is the blue States that are going broke.

Oh gee.

Blue states typically receive less than a dollar for every dollar they pay while red states typically receive 1.5 for every dollar they pay.

Illinois is one of the most shafted of those blue states.

Stop subsidizing the South.

Seriously. They have enough cheap land and labor they should in theory be able to boom economically.

[d4g4m]

Bond funds will take a big hit. Two biggest holders of Illinois bonds are Fidelity and Vanguard.

[NewbieHere]

Hell no.

[AlongTheI-5]

Originally Posted by LordSquidworth

Oh gee.

Blue states typically receive less than a dollar for every dollar they pay while red states typically receive 1.5 for every dollar they pay.

Illinois is one of the most shafted of those blue states.

Stop subsidizing the South.

Seriously. They have enough cheap land and labor they should in theory be able to boom economically.

Their utopian culture of trickle down economics gets in the way.

[Tall Traveler]

Originally Posted by BobNJ1960

Let them have a going out of gov't sale.

Putin might want to buy Chicago...rename it Putin City That would give them some nice buildings.

Kentucky might be willing to pay a few dollars for the southern half of Illinois.

[Tall Traveler]

Originally Posted by nicet4

I don't understand why they just don't double a property tax that would fix everything.

You sure? It might trigger a massive move out of Illinois which would have the effect of accelerating the inevitable.

So this does beg the question...is Illinois salvageable?