Seriously... I'm curious!
Some good stuff in the comments sections of the newsbites
posts!
Anyway... here's another stand-alone... but I do hope you
folks keep on scrolling down and checking the comments section of today's
newsbites post!
Oh... and by the way... a little feedback once in awhile
wouldn't hurt!
(*SHEESH*)
* * * * * * * *
Taxpayers in Alaska who enjoy keeping their money will be
happy to see a new report that claims the country’s 49th state is best able to
fund its obligations.
(*THUMBS UP*)
* AND LIBERALS AND RINOs DISDAIN SARAH PALIN...
(*JUST SHAKING MY HEAD*)
Residents of Connecticut may not feel as good.
* BLUE STATE!
The Truth in Accounting report ranks the states by
“taxpayer burden,” a measure that represents the amount each taxpayer would
have to pay his or her state’s treasury to fill its financial hole.
Truth in Accounting, a Chicago-based nonprofit,
determined that the states with the highest taxpayer burden — deemed “Sinkhole
States” — are, in descending order, Connecticut, Illinois, New Jersey,
Massachusetts and Hawaii.
* BLUE... BLUE... PURPLE... BLUE... BLUE... (NEW YORK
RANKS 6TH WITH REGARD TO HIGHEST TAXPAYER BURDEN BY THE WAY...)
(*SNORT*) (*CLAP...CLAP...CLAP*)
The states with the largest “taxpayer surplus” — called
“Sunshine States” based on having assets available to pay their bills — are,
from the top: Alaska, North Dakota,
Wyoming, Utah and South Dakota.
(*SMILE*)
Taxpayer burden is calculated by determining each taxpayer’s
share of state debt after setting aside capital-related debt and assets.
* WHICH IS A SKEW TO THE REAL NUMBERS...
(*JUST SHAKING MY HEAD*)
Remaining debt is primarily unpaid pension and retirement
health promises.
* PROMISES, PROMISES, PROMISES...
In its fifth annual report, released this month, Truth in
Accounting says states that have unfunded pension liabilities put a burden on
future taxpayers, even though “they will not receive any services” from the
retired employees who earn those pensions.
* DUH!
States with taxpayer surplus, on the other hand, fund
pension costs during the year employees earn the benefits, and the money is set
aside for that year.
* DEFINED BENEFIT PLANS SHOULD BE OUTLAWED... FOR THE
SIMPLE FACT THAT THERE ARE NO TRUE "GUARANTEES" IN LIFE!
* DEFINED CONTRIBUTION PLANS - WHERE THE EMPLOYEE DECIDES
HOW TO INVEST HIS OR HER RETIREMENT FUND CONTRIBUTIONS (AND EMPLOYER
CONTRIBUTIONS IF ANY) - IS THE ONLY RESPONSIBLE AND FAIR WAY TO GO!
Connecticut, which the report considers to be in the
worst financial shape, has an overall budget shortfall of $61.4 billion, which
breaks down to $48,100 per taxpayer.
Truth in Accounting reports that most of Connecticut’s
retirement benefits have been promised but not funded.
* AND YET NO ONE GOES TO JAIL. (TRY THIS IN THE PRIVATE
SECTOR!)
A Connecticut law requires the legislature to pass a
balanced budget. This likely explains why the state chose not to report its
entire retirement benefit liability. The report says: One of the reasons
Connecticut is in this precarious financial position is state officials use
antiquated budgeting and accounting rules to report Connecticut’s financial
condition. Since employee retirement benefits are not immediately payable in
cash, the related compensation costs have been ignored when calculating
balanced budgets.
* GEEZUS...
* JUST... GEEZUS...
Alaska, reported to be in the best financial shape, has
an overall budget surplus of $13.5 billion, which breaks down to $46,900 per
taxpayer. The report says Alaska has enough money to pay state employees’
retirement benefits and other outstanding bills.
Alaska is in good financial shape because the legislators
and governors have only promised citizens and employees what they can afford to
deliver.
* AND AGAIN... LIBERALS AND RINOs... AND MY BUDDY
"HE WHOSE NAME DARE NOT BE MENTIONED"... HAVE NOTHING BUT CONTEMPT
FOR SARAH PALIN... BUT (SPEAKING FOR "HE") USED TO HAVE GREAT RESPECT
FOR THE LIKES OF JOHN MCCAIN, WARREN BUFFETT, AND BARACK HUSSEIN OBAMA.
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