Stockton Ca. Like Detroit is going to go bankrupt. Who is to blame? The Tax payers, for refusing to pay any more taxes? The politicians and the unions, for signing contracts that were unsustainable?
GINGERBREAD
2012/06/26 01:20:57
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Top Opinion
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Leasheryn/Lady Willpower 2012/06/26 01:35:47The previous politicians, in collusion with the unions, signed agreements, th...
+6The politicians and unions who do not have a realistic view of the economic crisis facing America.
I wish the best to all in the same situation, but it's not the taxpayers fault. The voting public is more at fault than the taxpayers.
I was reading somewhere today I think Yahoo news, yes I know Yahoo news is not a reliable source, that other cities in California are on the verge of bankruptcy....and PELOSI LAND IS ONE OF THEM.
It is a shame that Obama has let the Unions take over the cities like they have but then he wouldn't get the votes that he will get, and after the decision of the Supreme Court THE BLACK HITLER OF THE US HAS JUST WON THE ELECTION...EVEN BEFORE NOVEMBER.
He has the GAY VOTES...he has the LATINO VOTES...and now he has the LAZY SONS OF BEECHES TO LAZY TO GET A JOB, wait there are no jobs, VOTES...all this done with out any casting a vote all that is left if the formality of voting to make it Obamalegal.
Each and every city, county and state keeps a separate set of books. It's not the one that has the budget in it that you hear about on TV. In my county - a small one - there is over $100 million dollars in it. I found it in the local library. Your library will have a similar second set of books in it.
Across the country these second sets of books contains TRILLIONS of dollars. They own about 70% of the Dow companies.
These books are called the Comprehensive Annual Financial Report, or CAFR.
It is a scandal of gigantic proportions, but not many people are aware of it.
If you bring it up, they will tell you by law they aren't allowed to touch that money. They don't reveal that they are the ones who make those laws.
If you do any city, county or state business, a large part of the money you pay, whether it be a license tag, a court filing, a ticket, or whatever, will be allocated to these huge slush funds.
Every taxpayer and fee payers is getting hosed by these secret "untouchable" funds. Right now every city, and county is screaming that they have no money. Yet they have these funds that aren't included in the budget.
So you won't think I'm making this up, here are some examples. This one is for the San...
Each and every city, county and state keeps a separate set of books. It's not the one that has the budget in it that you hear about on TV. In my county - a small one - there is over $100 million dollars in it. I found it in the local library. Your library will have a similar second set of books in it.
Across the country these second sets of books contains TRILLIONS of dollars. They own about 70% of the Dow companies.
These books are called the Comprehensive Annual Financial Report, or CAFR.
It is a scandal of gigantic proportions, but not many people are aware of it.
If you bring it up, they will tell you by law they aren't allowed to touch that money. They don't reveal that they are the ones who make those laws.
If you do any city, county or state business, a large part of the money you pay, whether it be a license tag, a court filing, a ticket, or whatever, will be allocated to these huge slush funds.
Every taxpayer and fee payers is getting hosed by these secret "untouchable" funds. Right now every city, and county is screaming that they have no money. Yet they have these funds that aren't included in the budget.
So you won't think I'm making this up, here are some examples. This one is for the San Joaquin, County. Stockton is the county seat::
FRESNO, Calif. (AP) -- Stockton could become the largest U.S. city to declare bankruptcy after a deadline to make a deal with its creditors passed and the city's mayor said Tuesday she did not believe a settlement had been reached.
Mayor Ann Johnston told KCRA-TV that a formal bankruptcy filing now appears "very likely."
In the past three years, officials in the city that was slammed by the collapse of the housing market dealt with $90 million in deficits through a series of drastic cuts.
They eliminated one-fourth of the city's police officers, one-third of the fire staff, and 40 percent of all other employees. They also cut wages and medical benefits.
To plug next year's anticipated $26 million budget shortfall, a proposed budget to be considered Tuesday night would suspend payments for debts and legal claims; reduce payments for retiree medical benefits; further cut some pay and benefits; and increase revenue through code enforcement and parking citations.
The proposed budget includes no major service reductions, City Manager Bob Deis said.
"The whole purpose of filing Chapter 9 is to avoid an uncontrolled chaotic situation," Deis said previously. "Bankruptcy provides the equivalent of a pause button. It retains services and provides structure so you don't have a bunch of lawsuits."
A formal bankruptcy filing could come as soon as Wednesday.
Each and every city, county and state keeps a separate set of books. It's not the one that has the budget in it that you hear about on TV. In my county - a small one - there is over $100 million dollars in it. I found it in the local library. Your library will have a similar second set of books in it.
Across the country these second sets of books contains TRILLIONS of dollars. They own about 70% of the Dow companies.
These books are called the Comprehensive Annual Financial Report, or CAFR.
It is a scandal of gigantic proportions, but not many people are aware of it.
If you bring it up, they ill tell you by law they aren't allowed to touch that money. They don't reveal that they are the ones who make those laws.
If you do any city, county or state business, a large part of the money you pay, whether it be a license tag, a court filing, a ticket, or whatever, will be allocated to these huge slush funds.
So you won't think I'm making this up, here are some examples. Click the "more" link:
The third one is for San Joaquin, County. Stockton is the county seat:
Each and every city, county and state keeps a separate set of books. It's not the one that has the budget in it that you hear about on TV. In my county - a small one - there is over $100 million dollars in it. I found it in the local library. Your library will have a similar second set of books in it.
Across the country these second sets of books contains TRILLIONS of dollars. They own about 70% of the Dow companies.
These books are called the Comprehensive Annual Financial Report, or CAFR.
It is a scandal of gigantic proportions, but not many people are aware of it.
If you bring it up, they ill tell you by law they aren't allowed to touch that money. They don't reveal that they are the ones who make those laws.
If you do any city, county or state business, a large part of the money you pay, whether it be a license tag, a court filing, a ticket, or whatever, will be allocated to these huge slush funds.
So you won't think I'm making this up, here are some examples. Click the "more" link:
The third one is for San Joaquin, County. Stockton is the county seat:
was an amendment of the Constitution of California enacted during 1978, by means of the initiative process. It was approved by California voters on June 6, 1978.
It was declared constitutional by the United States Supreme Court in the case of Nordlinger v. Hahn, 505 U.S. 1 (1992). Proposition 13 is embodied in Article 13A of the Constitution of the State of California.[1]
The most significant portion of the act is the first paragraph, which limited the tax rate for real estate:
Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed one percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.
The proposition decreased property taxes by assessing property values at their 1975 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2% per year. It also prohibited reassessment of a new base year value except for (a) change in ownership or (b) completion of new construction.
In addition to decreasing property taxes, the initiative also contained language requiring a two-thirds majority in bo...
was an amendment of the Constitution of California enacted during 1978, by means of the initiative process. It was approved by California voters on June 6, 1978.
It was declared constitutional by the United States Supreme Court in the case of Nordlinger v. Hahn, 505 U.S. 1 (1992). Proposition 13 is embodied in Article 13A of the Constitution of the State of California.[1]
The most significant portion of the act is the first paragraph, which limited the tax rate for real estate:
Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed one percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.
The proposition decreased property taxes by assessing property values at their 1975 value and restricted annual increases of assessed value of real property to an inflation factor, not to exceed 2% per year. It also prohibited reassessment of a new base year value except for (a) change in ownership or (b) completion of new construction.
In addition to decreasing property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases of any state tax rates or amounts of revenue collected, including income tax rates. It also requires a two-thirds vote majority in local elections for local governments wishing to increase special taxes. Proposition 13 received an enormous amount of publicity, not only in California, but throughout the United States.[2]
Passage of the initiative presaged a "taxpayer revolt" throughout the country that is sometimes thought to have contributed to the election of Ronald Reagan to the presidency during 1980. However, of 30 anti-tax ballot measures that year, only 13 passed.[3]
A large contributor to Proposition 13 was the sentiment that older Californians should not be priced out of their homes through high taxes.[4] The proposition has been called the "third rail" (meaning "untouchable subject") of California politics, and it is not popular politically for lawmakers to attempt to change it.
http://en.wikipedia.org/wiki/...
We who have been around a while know that in our own lives.
A city is no dangerous.
As for unions and all, even for this nation, giving more benefits and higher wages is the answer - then why don't we just give everyone free benefits (if they want it let 'em have it) and raise everyone wages high enough to make everyone millionaires.
Now, problem solved.
No, higher wages and more benefits is NOT the answer to solve our monetary problems.
Money that is worth more would help a lot.
To increase the value of our money lets bring back more real work to go along with our service jobs.
Lets produce more Iron, Steel, Oil, Gold, Silver, and so on and then the spin off jobs that come about when the country has more wealth of its one.
Yeah, I know that is not the total answer but it is the right highway going in the right direction. This is not NASCAR folks. ;-)
Too many politicians taking out of the pot and not worried about living up to what got them elected.. too many crooked politicians!