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To the point that the other states are rather wealthy, yes they'll be fine. My real question is what do these states do? Continue to raise taxes? Even the othe
by nemo44x 7y ago
To the point that the other states are rather wealthy, yes they'll be fine.
My real question is what do these states do? Continue to raise taxes? Even the other states in question are losing high net worth tax payers to places like Nashville, Texas, Florida, Arizona, etc.
Do the just restructure in bankruptcy and leave all these people hanging who are relying on their pensions to live on?
Neither of these possible. I'm really at a loss at what these states should do.
- toomuchtodo 7y agoStates can't declare bankruptcy, and in the case of Illinois, public pension benefits are guaranteed by the state's constitution. I don't have an answer unfortunately, although I think often of possible solutions.