On 7/5/23 10:31 AM, ScottW wrote:
On Wednesday, July 5, 2023 at 8:22:23 AM UTC-7, mINE109 wrote:
On 7/4/23 5:49 PM, ScottW wrote:
What bankrupts a city?
Lack of tax revenue.
Typical of Stephen, those damn piano teachers aren't coughing up their fair share.
As good commies, they should pay 100%.
Meanwhile, in the real world, what causes "lack of tax revenue"?
Businesses failing and fleeing from homelessness, drug addiction and crime.
That's not what causes businesses to fail. Your concern about empty
downtown office buildings is due to lack of workers, not your litany of nuisances.
Hmm. A proprietary accounting method, claiming they're the only true
source of "the overall financial condition of every state.”
https://www.data-z.org/about/page/accounting-methodology
And it's trade-marked, so it has to be true.
Let's see about cities...
https://www.truthinaccounting.org/news/detail/financial-state-of-the-cities-2023
This is the latest annual report. How many cities went bankrupt
following earlier just as dire reports?
You cited a top 10 "sinkhole" cities, here's the "Top Five Sunshine
Cities" with a surplus after burdens discharged:
1 Washington, D.C.
2 San Francisco
3 Irvine
4 Los Angeles
5 Fresno
Aren't DC, LA and SF considered Democratic hellholes? With lots of "homelessness, drug addiction and crime."?
"(2) San Francisco moved up in the rankings this year largely due to a temporary decrease in its pension liability and an influx of federal
stimulus money. The city’s pension liability is calculated by
subtracting earned and promised benefits from the market value of
pension assets. The pension assets’ values were high based on an exceptionally good year in the investment markets in 2021. The result
was a dramatic decrease in the city’s pension liability and a
corresponding increase in its money available to pay future bills rising
to $2.1 billion. Each taxpayer’s share of this surplus is $7,700.
Inflation and market downturns in 2022 are extremely likely to affect
this positive outlook next year."
Next year's report might not be as favorable for SF, but this calls into question the usefulness of the report at all for your purpose.
I'm surprised to see Fresno, which has a reputation for being both cheap
and unaffordable. Miami, on the "Sinkhole" list, has a Republican mayor.
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