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Many states and municipalities will soon be facing their own pension crisis. We can all rest-assured that all our taxes will be going up.

• rayiner 11y ago
  There is a limit on the ability of states to raise taxes to cover pension obligations. There is already a net internal migratory pattern from northern states to southern ones. States like raising taxes to fund pension obligations will only accelerate that trend, gutting the tax base those states are counting on to make ends-meet.
  • khuey 11y ago
    This is already happening in New Jersey.
    • hkmurakami 11y ago
      I was surprised when I heard that the departure of hedge fund manager David Tepper (worth $10B) from New Jersey to Florida is causing a legitimate fiscal planning challenge for the state. http://abcnews.go.com/US/wireStory/billionaires-move-puts-jersey-tax-rates-spotlight-38288362 http://abcnews.go.com/US/wireStory/billionaires-move-puts-je...
      • duaneb 11y ago
        Hmm, maybe delaware should jack up pensions.
  • intrasight 11y ago
    I meant "all" as in federal taxes going up - to fund these failed states and municipalities.