Stop building cities and suburbs exclusively for the car at the expense of all other forms of transportation. The modern US city is an endless money pit. Also more and more people can no longer afford to drive or own a single family detached home. Even the infrastructure can't keep up. Of course such city planning is needless and needlessly expensive and there will never be enough tax revenue to solve the problem.
@@ph11p3540 You're missing the fact that it's primarily blue states that have this problem. Also, you clearly don't understand how infrastructure maintenance actually works lol. Denser areas are more expensive to maintain than less dense areas are.
@@bigmike- I know it's not nice to say, but I am going to feel a certain level of satisfaction at the cost of Trump voters loss due to inflationary policies like tariffs and mass deportation.
Corruption in the form of kickbacks to govt. officials for awarding contracts is just one of many forms of corruption that makes yacht and mansion owners out of people who did not earn those. These undiscovered instances of corruption make quantification of them difficult.
@@geoh7777 No it's the pants on head r3t4rded zoning ordinances that only allow for R1 zoning. This is not just these states it's EVERY state. No town or city in the US can actually afford it's maintenance obligations with out hand outs from the state or federal government.
Bingo! It’s all blamed on climate even though after the errors in Judith Curry’s research were pointed out and she corrected it to show no increase in storms due to climate change. More people in more locations where they are at risk means it appears that we are experiencing more catastrophic storms than in the past.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
I feel like I could really need more assistance because navigating the market is so frightening to me. I've already sold off the majority of my assets, so I could use some guidance on where to put my money.
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
To be fair, it's actually both. You need money coming in, policies on how it comes in and where it goes once it comes in. Some states stick it all in one place and divvy it up once it's all in.... other states do not. None are transparent about it at all. I think the USA should adopt a tax idea used in Australia. Every single year, I get a tax breakdown when I pay my taxes. It literally breaks down everything in line item form to show me exactly where my money was spent and how much is spent on each area or program (roads, healthcare, etc)
@@Kymberlee_W To be fair, it's about spending. If the income isn't there then spending needs to be reduced. If families can adjust their budgets then government should too.
@@Kymberlee_W Some of the States have incredibly high tax rates when compared to others, yet don't have the money to pay their bills. In these cases, it's not about how much comes in, but how much goes back out. This creates an efficiency rating comparable to each State. Some can get a mile of highway built and maintained for 1/3 the price of another, for example. Some build 50 million dollar fire stations while others can accomplish the exact same mission for 5 million. I moved myself and my company from Connecticut to Tennessee. It was the smartest thing I could have done for myself and my employees. I couldn't believe the mindset in Connecticut on how wasteful they were with my tax dollars. Now they get none.
@@samnangheng7702 This argument is always so stupid. You say it's a blue state, so it must be Democrats fault. You say it's a red state, so it must be a blue city. At what point do you just step back and say "Well, most politicians are just crappy" rather than this blue v red. Also, John Delany, a Republican, was mayor of Jacksonville back when the Jags built their stadium.
@@moomie1634 Look at the statistics. Demoncrat are good at wasting money and raising tax. Pro the lazy just to get vote from them and keep them poor. Took 28 years to build a 3 mile strip of road. Basically, they are a modern day slave master.
@@lextacy2008 Don't pretend like the government is the victim here. They allowed lobbying and corporations to influence policy making to sustain itself. The government itself is similar to a corporation and is the LARGEST employer in the US promising bloated pensions and benefits that are extremely costly. Did you think the government did this all unwillingly? What a naive fool of a taxpayer you are.
It's not. Its old people milking us on their way out. Illinois biggest problems is pensions and healthcare, they promised way too much and young people must pay. Essentially funneling money from poorest generation to wealthiest, as if social security, the second largest tax of all was not enough
I know basic economics is hard, but let's give this basic concept a try, No Matter what the Cost of Living is, It is Too Expensive If You Have No Income. Your Republican Governors fulling intend on bankrupting their states, so they don't have to pay taxes.
Every Republican president of the past 60 years that went after the Fraud and Abuse in our government failed at that mission! Trump doesn't want to end the corruption, he wants a piece of the corruption! Cuz my boss always gets his 10%!
@@duanedodson1 I live in a perpetually-red state, and this video showed we're the top 5 most financially stable. Along with other red states. What bankruptcy?
@AlwaysThirstys the US, in general, is like an individual who makes $2 million a year, but still somehow finds himself in debt up to his eyeballs. The issue isn't that he isn't making enough as he is making insane amounts of money. If he made $3 million he would still find himself with the same problems. He has to change his behavior and the financial principles he lives by.
@@michaelmadsen1222 Crazy you say this, but when trump inherited Obamas economy all he did was SPEND for no reason. This forced joe Biden to clean up his mess
@@AlwaysThirstysso the record amounts of taxes collected and new expanded IRS should have closed the deficit then? Except it’s only gotten larger and Biden is spending even more money
Spend your money wisely-invest in quality where it counts, for it often outlasts the cost of cheapness. Yet, remember that sometimes the simplest, least expensive option is the real gem in disguise.
@@JessieeAlmarI hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My wife and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with my Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
@@OsamahMocoI know this FA, Stephanie Janis Stiefel but only by her reputation at Neuberger Berman ; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since l watched her interview on WSJ last month.
I have a friend who used be in municipal government. His biggest frustration he described as this: "This town has five police chiefs. One active and four retired."
Exactly. I know a guy in NJ who worked for a city for 25 years. Retired at 43, is currently 80. The taxpayer gets nothing for this kind of lavish benefits. There is no way to make living affordable when you work for 25 years straight out of high school, then retire for 50 years.
@@TheSubdude123I'm fine with pensions in principle, but you've got to work till at least 65 to get full benefits; everyone else needs to work till 67 or higher Younger generations dodn't exist solely to support others' retirement
@@TheSubdude123 I know an art teacher that is about to retire after 30 years teaching in California. She currently earns $130,000 a year and says her pension will be about $8/month. Not bad for job with summers and every holiday off, that teaches a largely unmarketable skill.
Have they tried building bigger highways and stadiums for private sports teams?? While giving corporations tax cuts? If they repeat it for long enough, one day it might magically work
I think you mean "non profit" sports teams which pay tens of millions per year to players and staff.. shoot, sometimes hundreds of millions. This is america.. nothing works, nothing makes sense and the weaker and more disadvantaged the person, the more BS they get. its as if the government is trying to make a hellscape for the people.
In Illinois, the state has not made its donations for years to pension. I paid my portion, we all did. The pension mess is real, but keep in mind that the state chose not to set the money aside.
@@glorymanheretosleep "You shouldn't expect to make 50,000 usd a year from a pension from the public system, either." Uhh, if you paid into it and that was part of your salary agreement, of course you should expect the state to pay you are owed. The problem isn't that some people have $50K a year pensions, it's that the 1% grabbed most of the wealth so far fewer jobs come with pensions.
We fed into our State Pension but every time it was over funded due to stock market gains they would skim money off and not pay in as planned. Eventually, that caused a big problem.
@@markrivera2522 Larger cities need more administrative expenditures in general. Higher density areas in general has higher productivity and pay more taxes. But federal revenue redistribution is done purely by population. It's complicated. But there just should not be a defined benefit retirement plan. It's not manageable.
i'm from michigan. when former governor engler was in office, he raided the state pension fund to "balance" the states budget. well, about 25+ years later, the pension has never been paid back. personnally, i think that the state workers should have sued the governor for taking money that wasn't his (the state's) to spend.
@@draco4540I wouldn’t trust my money being controlled by anyone but myself. I especially wouldn’t trust government to manage money properly. They are the absolute worst managers of money.
because they spent state taxpayers money to improve themself and help people from other states or not even US citizen. and we still vote for those people because we love what they doing with our money.
@@eile4219 Oh get real. Always xenophobic gibberish. Main cause of Illinois is pensions & healthcare for old people But sure, let's let old people milk us while we blame the few people with couple hundred dollars per month in bare bones basic support. So cringe
I think the corporations getting tax breaks for “bringing jobs” to the state is the biggest sin. Boeing got $60 million in tax incentives to move their headquarters to Chicago, they brought a whopping 500 mostly white collar jobs, should have at least required them to use Illinois contractors for parts or that a fair amount of the manufacturing is done in Illinois but apparently we favor a no strings attached relationship. I don’t begrudge people healthcare and pensions but massively profitable corporations and sports teams don’t need taxpayer subsidies.
@@abdiganiadenso they spent money that was designated for pensions on other things? The employees PAID into and earned their pensions. Be quiet if you’re ignorant.
Not every state spent like this. They knew that money was temporary and they intentionally spent it like it was permanent. They get what they deserve. They rest of us should not have to bail out other states with our tax dollars.
@@MacchiatoSwirlGirl Are you kidding? Look at the states that are in trouble and then look up the prevailing political party in their governor's office and legislature over the last 30 or 40 years. Especially look at the 5 states mentioned. All very left-wing.
The brain rot here is insane… wake tf up and look to fix it instead of pointing fingers like children. The only way things improve is if we solve the problems together. Things won’t improve by dividing each other and complaining like snowflakes.
My state is legally required to balance the budget every year. So, sometimes there’s last minute cuts or increases in sales taxes midyear in order to meet budget. More states should do the same!
Depending on how you define it 40-49 states are required by law to have a balanced budget. Vermont is the only state with nothing in writing. The issue is various loopholes or strictness exists. Some states are given a window to have a balanced budget other need only propose a balanced budget not necessarily pass it. Either way nearly all Americans states must have a balanced budget in a certain period of time so what we’re seeing in the video is a snapshot. For example California had a surplus for 2022 now they’re in a deficit it will not be surprising to see a surplus again in 2-4 years. The issues is too many states a cyclical in the deficit to surplus and it causes issues with running or managing agencies and obligations.
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Having an FA is the best way to go. Based on a direct encounter with a CFP named Julia Hope Marble I can say with certainty that their skills are excellent. She helped raise over 580,000 in 18 months from an initially stagnant portfolio of 150,000
Funny how California has one of the highest tax rates yet the highest debt wonder whats happening to the money…. They charge us more taxes every year yet the money never fixes anything. Roads are horrible and gas is high where the money going?
Ca provides free lunches to all students. And it does have a lot to build and maintain. Even putting up a single restroom costs like 6M for the cities. Plus there’s a lot of universities. Compared to other states you really do get a lot out of your taxes.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass wealth amid economy crisis, and even pull it off easily in favorable conditions. That should be the least of your concern. Also explore the option of working with a CFA to reduce greatly your chances of loss.
You're right, I and a few Neighbors in Bel Air Area work with an Investment Adviser who prefers we DCA across other prospective sectors instead of a lump sum purchase. As a result, my portfolio has recorded significant improvement even during the most unfavorable market season.
I'm intrigued by this. I've searched for investment advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Small towns are usually fairly reasonably priced. it's the houses in the bigger cities that all the city's workers are competing over, sending prices to the moon.
@@thejquinn And the State Department. The sheer amount of money that is spent overseas for diplomatic BS we could have provided all these benefits to AMERICANS multiple times over.
@@米空軍パイロット Yeah, the Pentagon literally can't pass an audit. If we allocate that money that if even the ones that are simply miscounted we can lower the debt in many of these states.
No, states need to balance their budget. You raise taxes the rich and Corp, they will just go to another state, and leave you even worse off. Stop coming up with dumb ideas.
Ironically, corp tax breaks are generally good for the economy. I think what youre talking is about is taxes for the .01%. Individuals do not need tax breaks and do not return much to the economy like a company does
They give tax cuts because they want the company to STAY in the state. Did you gloss over the part where they can simply just move to a lower tax rate state?
Road. Maintenance. Way cheaper to make roads than maintain them. People made roads without thinking about how expensive to maintain it would be. Still do.
Nah, they'd have enough for road maintenance if they A) stopped wasting those funds on buses and bike paths and focused on fixing the roads and B) petitioned the federal government to get rid of the very racist, Jim Crow era Davis-Bacon Act that unnecessarily increases the costs of labor on these projects! (For anyone wondering, while debating the bill in committee, one of the Congress members officially entered into the record that, at the time, Davis-Bacon would make sure black people could not take white jobs!)
@@Staurcomb cities and areas have taken out tracks in favor of walking trails....trails.. Rails that could lead to less trucks on roads, and/or create new commuter routes.
@@mpowe123 NONE of those trails were being used by ANYONE... No working rail can be taken away from a business using it. And if you want to complain about social meddling, do not forget the Big Oil work of the 1920's and 30's... The majority of those rails in cities being bought up by Corporations and ripped up in order to sell cars and gas... Again... Wrong enemy... Mental laziness and self righteous harrumphing coming together to build another useful idiot for the elites...
Im in Illinois, A lawmaker here told our families we will need to downsize our homes if we cant afford our property taxes. She did not mention once that the government needs to downsize their spending. The state of Illinois does not cut spending they just look to raise taxes on the citizens. We just passed a law raising taxes on millionaires, I'm no millionaire but why do they have to suffer when the government mismanaged money and spending. Its only going to get worse here because we are losing a huge tax base to other states taking their money with them. And since this state does not know how to cut reckless spending, they will just turn to the citizens to make up the difference.
It's the same mentality behind the 2008 financial crisis: fiscal irresponsibility proliferates when groups think they are too big too fail or can delay their financial reckoning to sometime in the future for younger generations to deal with.
I live in Illinois and my property taxes tripled in the last two years. We have high sales tax, tax on groceries, tax on medicine, and we are also paying a 5% state income tax on top of federal. Let's not forget fuel tax, tax on car registration. City of Chicago car sticker tax. I feel like I'm paying more than my share.
And Illinois has turned around to a fiscally responsible state Lets not forget this was everything we inherited from our past incompetent governors. Pritzker has been digging us out of the pit.
@beanemac It's not that bad. I left Chicago 5 years and moved to Missouri which is way f@(king worse than Illinois. In Missouri, you have to pay property tax on your vehicle! That's a $500 to $800 *every year* just to own a vehicle, *plus* license plate fees are additional.
Always love how short sighted most politicians are. Make big promises and deliver on short term goals with no long term plan on how to pay for these things.
Many states struggle to balance the need for quality education with budget constraints. Funding shortfalls can lead to less investment in schools and increased pressure on local property taxes.
The U.S. should look to other countries who are now building public infrastructure to mine Bitcoin to bolster their financial future. BRICS countries are making plans to create international trade settlements in Bitcoin - meanwhile the US dollar is being quietly taken off the petro market standard. When that money comes flooding back into the U.S., the inflation and debt equation will become crippling. A top digital asset analyst for a company managing over $100 Billion in assets, recently projected that the shift to Bitcoin for BRICS financial settlements along with 2% central banks future holdings could create a $3 Million dollar price per Bitcoin by 2050. Whether that’s accurate or not, it is the only currency investment with the power to stabilize wobbly inflation and debt-laden countries with a deflationary counter-balance. Without this strategy the US dollar will very likely collapse.
@@NewEarthAwakening lmao. The BRICS meeting is coming up and happening in Russia. Attendees were sent a memo saying that their cards won't work, and rubles can't be bought outside of Russia so they need to bring US dollars or Euros in cash to trade so they can spend money while there. They won't be allowed to exchange them back when they leave because Russia needs the dollars and Euros. Brazil and India are the only countries doing okay (barely) while the others are crashing and work against each other. Brazil, India and South Africa won't take China's goods, India and Russia are at odds with China or have major border disputes. In South Africa corruption takes close to 2% of the countries GDP, Brazil has unemployment of 14% is ranked 146 out of 184 countries for economic freedom and is one of the unhealthiest places in the world and is ranked "mostly unfree". Russia is sanctioned so bad they will be like south Korea very soon. China is failing every way and by 2030 they will have 18 65+ year olds for every 1 five year old, with youth unemployment hitting 45% and 800 million people living off of $320 a month, along with an economy that is failing while they are having border disputes with every country around them over land and sea. India is showing promise but 80% of the 1.5 billion people live in the northeast of the country because of terrorist attacks on the border with Pakistan. Just because Saudi Arabia let them buy oil in yuan doesn't mean the Petro dollar is at risk because they just exchange them for Euros or dollars so the exchange is still happening, it's just happening in Saudi Arabia instead of China because they can't get the dollars in China. You can wish upon a star regarding Bitcoins future but India already owns about 6% and that didn't push it to over $68,000, even with China ending up with 190,000 of them after "busting a scam", not just taking it and killing the actual owners (wink wink). You are believing VanEck's assumption that Bitcoin will have the same velocity as the US dollar. I hope that the US doesn't make one in the next 25 years or your assumption will be very off. You putting the BRICS associates, I can't even call it an alliance anymore, is even a blimp on the world radar is a huge mistake. I'd diversify a little because of the group who created it, who's anonymous and hidden behind a pseudonym. I wish you good luck but please stop falling for this lie that comes up once a year. The dollar's use went up from 80% worldwide in 2020 to 89% in 2023. While everyone is saying the dollar is ending, it's use and reliance is rising. Nothing is close to replacing it because the fact is the US increased it's holding of 3,000 tons of gold to over 8,000 in the last 5 years preparing to create their own digital currency which would make the anonymously made (hopefully) European Bitcoin drop like a rock. Enjoy. Lmao BRICS. 😂😂😂
Increasing healthcare costs, particularly through Medicaid programs, can put additional pressure on state budgets, especially as states expand their responsibilities under federal healthcare mandates.
And then everyone will whine because there will be little to no growth and the economy will collapse. DEBT is absolutely vital for a Country or State in a Capitalistic Society, it's what keeps things moving and allows for a much higher growth rate.
@@malaineeward5249 You have the power of the Internet. There is no excuse to be this ignorant about how life around you works. Do better, or please for the love of God, don't step anywhere near a ballot box again, if you truly are that dumb and lazy. Millions of Americans have sacrificed their lives and bodies for this Country since it's inception, at the very least you can do is to learn about how things actually work and how their functions are so vital to the Society of excess we live in and life as you know it.
@@HeplMehAn amount of debt that can be contained by the growth. Can you honestly say that the debt we have now will be outgrown by the economy anymore soon?
@@AdrianB2016yes, it is. We should be focusing on our own country first before even thinking about any other country. We should save our own people first before saving those outside our borders.
For the states not too deep in the hole, I hope they reverse their spending habits. Too much taxes on the average citizens means less money circulating in the local economy.
Nope teacher’s pension and sooo many township employees not getting any better anytime soon I live in New Jersey and pay 8,000 a year in property taxes for a small 1500 square foot house it is what it is 🤷🏻♂️
The fact these states are paying their employees before their constituents is disgusting. Your tax payers are not getting hospitals but they are making politicians and police chiefs super wealthy.
@@username-mc7jw Yep, Noted Blue States like Texas, Alabama, Mississippi, Louisiana, Kentucky, Ohio, South Carolina and Kansas. If there’s any pattern to be noticed here it’s that both political parties have a problem of spending more than the population is willing to be taxed.
Government incompetence lead to this. However, the bigger problem is when government and activists believe the solution is to trust them with even more tax payer money
For years Maryland was debt free because of the Maryland's Comptroller Louie Goldstein strict financial management. The current Comptrollers have messed up the system.
ya know what i hear? Everytime the richest amungst us, those who can afford an equitable share of the tax burden they move to where they can pay the least
I talked to people about this forever. If you move thinking you will escape high taxes, you’re kidding yourself. You are taxed on everything you do and it will continue if tax cuts continue. You can run but you can’t hide.
Ah, but the taxes aren't the end. Regulations usually follow taxes and places like California either have a surplus that they spend immediately, or a huge deficit they use as an excuse for more taxes... and regulations are infamous in California. States that actually balance their spending within their existing tax base are far less likely to kick taxes up over and over again, nor choke you to death with regulations.
@dking1836 regulations are not the problem, And FYI California is the 5th largest economy in the world, It's the biggest Contributor to federal taxes in the US by far It's not going broke, yes it has a big debt, but it's not in trouble The Pandemic hurt all states, there are many factors California keeps getting knocked by the GOP,
Those states that have less debt because they have fewer residents and more corporations. There's no way North Dakota could fund itself if it suddenly had the same population density as Connecticut and New Jersey.
Illinois has believed in the " kick the can " policy for decades. Don't pay what you owe today when you can put it off until tomorrow, or the next day, or next year, or let the next guy in charge worry about it and don't pay off anything at all.
Some states are experiencing population decline or out-migration, leading to a smaller tax base and decreased economic activity. This trend can disproportionately affect rural areas and aging populations.
Good, solid discussion. Unfortunately, I have heard much the same discussions going on for years now. Illinois has always been the poster child for government mismanagement.
@@n1gtwhisper158please. Democrats have controlled Illinois for decades (see: mike madigan). They've raised taxes so much people are leaving Illinois, and downstate is so neglected that they want to secede (don't blame them, Chicago outvotes em all)
I think though what people don't realize is red states will be in trouble is blue states fall. For how important they are to the economy if they do fall red states will lose a lot in federal assistance which helps them keep their balanced budgets.
So as far as KS goes: Brownback fucked it up, that’s why our governor is a democrat in a red state. Kobach was Brownback 2.0 and was running as Republican.
Conspicuous in this report’s absence is any mention of corporate tax breaks and related corporate welfare (“subsidies”). Not ONE person interviewed addressed this 800-lb gorilla in the room. Not ONE.
What's funny is that all the Democrats whining about Reagan and his "supply-side economics" then turn around and implement it for THEIR favored industries! Newsom just the other day offered a big tax break to movie studios "cause they create jobs" - which is the entire argument for supply-side economics that Democrats whined about! (The difference was that Reagan wanted to give it to ALL businesses, not just corporate friends.)
States that rely heavily on federal funding for their budgets may face challenges if federal support is reduced or reallocated. This reliance can make state budgets more vulnerable to changes in federal policy.
@@JamesBrown-dv4ve They may have paid a higher tax in the 70s, but perhaps you should look into the malaise that the decade was known for! Reagan pushed through tax cuts in the 80s, which is why that decade is more well-known for being more prosperous.
Government pensions aren’t the problem if they are properly managed. The Indiana Public Safety pension has consistently been 95%-100% funded since the 2008 Recession. A couple years it was 110% funded, so they gave cities a few percentage point decreases in the amount they pay per employee.
@@timothytaylor6447 To qualify for a pension, individuals must accumulate at least five years of service. As of October 1, 2022, 619 retired Members of Congress received federal pensions based on their congressional service. Of these, 261 retired under CSRS, with an average annual pension of $84,504, and 358 under FERS, with an average annual pension of $45,276. Elected officials in Congress are categorized into two retirement systems: 1. Civil Service Retirement System (CSRS): This system applies to federal employees hired before 1984 and provides more favorable benefits. However, CSRS is no longer accessible to new members. 2. Federal Employees Retirement System (FERS): This system replaced CSRS in 1984 and includes Social Security and the Thrift Savings Plan (TSP). Most current Members of Congress are covered by FERS, as CSRS is no longer an option for those entering service after 1984. A U.S. Senator or Representative is eligible for a pension after serving at least five years, which is the minimum service requirement for federal retirement benefits. However, they must also be a specific age to receive the pension. Retirement benefits are determined by the interplay of years of service and age. For example: • At age 62 with five years of service • At age 50 with 20 years of service • After 25 years of service The pension amount is calculated using a formula that considers the average of the highest three years of salary and years of service, capped at a predetermined percentage of their final salary.
So we're not going to talk about how corporations don't pay taxes, but the civil servants who make our government run don't deserve the retirement they've worked for?
i see you are not to Smart 1st we have to many of them, we have a fed gov worker per 600 people 2nd they are very well paid . Avg private sector worker 65k avg fed gov worker 95k. 3rd they have some of the best retirement in the Us
When the owners (shareholders) receive income from the corporations, they do pay taxes. Government employees do not pay taxes. It is all paid for by the private sector who pays all the taxes. A kickback from a govt employee back into the pocket it came from does not constitute 'paying income taxes'. It all originates from the private sector. Also the retirement, health care, sick days and all holidays are paid for by the private sector. Mostly by tax payers who do not receive any of those benefits.
@@bobnankervis9722 a fed gov worker does not pay net income tax as a fed gov get paid my the fed gov a private sector worker pays a lot of fed gov income tax
We can start by paying Congressmen only a percentage of the highest paid employee in their district instead of paying six figures to them for doing nothing.
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All of the states going broke have the highest state tax on top of Federal Tax and are the most expensive places to live. They have a spending & competence problem.
It is possible to get out of debt. But it will come at an extremely high cost. One that we American people will unfortunately never be able to undertake.
@@Ir0nFrogwhy wouldn’t it be high? They cut spending, so people lose benefits or they raise taxes so we pay more. They need to start trimming now or cut of wasteful spending
Best way to help with finances is zoning reform. This involves removing many local zoning restrictions that restrict housing supply. This will have impact of lowering housing costs and expanding tax bases for both state and local governments. The increase local revenue will also reduce states bailing out local governments.
And eliminate golf course tax breaks (or eliminate them completely as a complete and utter waste of space). Millions of units blocked from being built (and billions of taxes not being collected) because some rich people want to drive a mini-cart, and some poor people who want to pretend they are rich.
@@rebeltheharem7028rich people pay the majority of taxes. Go tell repeat baby mamas to close their legs and stop running to the government to fund their Illegitimate children.
Agreed! I also think that creating special zones and subsidizing raw building material to allow people to build their own homes inside these zones, could solve homelessness while spending less than what we currently spend for little to no results.
Low housing costs means less money spent on salaries, social programs, and pensions. States with HCOL are the ones struggling, largely because of NIMBY politics that have blocked housing for decades.
Florida has no people and nothing going on?... Put your thinking cap on and look at how the broke states vote. I'll give you a hint they're all run by liberals.
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Virginian here... It's coming. The blue wave voted on 2 different amendments to take on debt. We've gone from Red to purple to blue (Northern Virginia, the most populous part is decidedly blue). We used to get checks from the state when they had a surplus. Those days are gone.
Because most of them are run by communist democrats, Virginia is blue mainly due to Northern Virginia and would otherwise be a strong red state. DC continues to run the state down.
@abrareads South Carolina has increased revenues every year from Boeing and Honda but, with BMW adding new Lines of Product the revenue from those 3 companies alone has grown by more than 50%>
@nousernamesarevalid We know, but the fed will be lending loads of money as usual. But you should understand. The states are asking for loans to fund their debts
NJ doesn’t offer anything yet we pay sooo mucchh in taxes. Where does the money go? No real public transportation, merry-go-round road networks, no bike infrastructure, 0 walkability, sub-substandard infrastructure….
Decisions made in previous years regarding tax rates, spending levels, and budget priorities can have long-term implications that contribute to current financial difficulties.
@@bjohnson8371trump/Vance literally are for the rich. Trump never worked a blue collar job and thinks taxing companies less will increase the wages they pay…
Given all the horror stories I've heard about private pensions and 401k, I'd rather just cut out the middle man and do the old-timey stuff in mattress trick. At least then I'd be the only one responsible for having a crappy retirement.
Thank you for your video mate…. Since working with veronica Thompson, She transformed my investment strategy, my stock portfolio keeps increasing, turning a $20,000 investment into $478,000 in less than a year. Her insights on market trends and stock selection have been invaluable. If you’re looking to boost your investments, she’s the one to trust!
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional./////
I know ,Veronica Thompson she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
My personal, non scientific, unsubstantiated and uninformed opinion is that this country will collapse in 20 years or less. Y'all better start buying those cheap houses in Japan.
Ok, but you're talking about Federal debt while this video is talking about State debt. So, it's about the plans that the state government implemented.
the fact that you single handedly think it's his fault means you don't know anything. A republican ex businessman governor. How many governors before him politicians before him were running the state
@CoachChef It's a joke bro, calm your tatas. But I am well aware of our bad line of ex governors, the last 2 have been charged with and convicted of siphoning money. Don't feel so self righteous next time and do something useful with your time.
Hi,I have one question,Government from England saying don’t investigate on Cryptocurrency,i stiil have some money there,What can I do,sorry because I disturbing you
I believe the wisest decision that should be on every individuaI Iist is to invest in a different stream of income and don't depend on the government to bring you money. It's aIways better to work smart and not hard.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know. .......
It’s not climate change, it’s people moving into high risk areas for flooding and other disasters. The more people moving to coastal areas increases this risk. The more forest cut down for housing loosens soils for mud slides.
my city wanted to raise property taxes to build a junior hockey stadium, started at 50million, and now costs 110million, but taxes didnt go up, we had enough people say no.
They make the "money". If California made its own money, it too would seem to have no problems. Of course that money would soon be worthless just as dollars are losing value right now.
The problem was never about increasing or decreasing taxes, it was about how the money was spent.
Stop building cities and suburbs exclusively for the car at the expense of all other forms of transportation. The modern US city is an endless money pit. Also more and more people can no longer afford to drive or own a single family detached home. Even the infrastructure can't keep up. Of course such city planning is needless and needlessly expensive and there will never be enough tax revenue to solve the problem.
@@ph11p3540 You're missing the fact that it's primarily blue states that have this problem. Also, you clearly don't understand how infrastructure maintenance actually works lol. Denser areas are more expensive to maintain than less dense areas are.
Americans have no clue about what high taxes are . Come to Canada and you will see high taxes
they need to spend much less.
@@jeffmorris5802Any proof to support your argument?
NJ with one of the highest property and income tax... and yet the state is broke... WTF
Thanks to the many democrats running the state.
Yeah they have the least to manage in my mind and they’re failing that badly?!?!
That's exactly what I've been saying to myself 2021-2024 about 2017-2020😂😂😂
@@bigmike- I know it's not nice to say, but I am going to feel a certain level of satisfaction at the cost of Trump voters loss due to inflationary policies like tariffs and mass deportation.
@@ericwoll maybe momentarily. It won't be worth the price that we're all going to pay for that small schadenfreude though.
Blaming climate change for leadership incompetence is distracting attention to the real problem which is leadership incompetence
QUIT Voting BLUE
Corruption in the form of kickbacks to govt. officials for awarding contracts is just one of many forms of corruption that makes yacht and mansion owners out of people who did not earn those.
These undiscovered instances of corruption make quantification of them difficult.
@@geoh7777 No it's the pants on head r3t4rded zoning ordinances that only allow for R1 zoning. This is not just these states it's EVERY state. No town or city in the US can actually afford it's maintenance obligations with out hand outs from the state or federal government.
Greed
Bingo! It’s all blamed on climate even though after the errors in Judith Curry’s research were pointed out and she corrected it to show no increase in storms due to climate change. More people in more locations where they are at risk means it appears that we are experiencing more catastrophic storms than in the past.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
I feel like I could really need more assistance because navigating the market is so frightening to me. I've already sold off the majority of my assets, so I could use some guidance on where to put my money.
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
People. It's not about the taxes. Its literally about HOW ITS SPENT!!
To be fair, it's actually both. You need money coming in, policies on how it comes in and where it goes once it comes in. Some states stick it all in one place and divvy it up once it's all in.... other states do not. None are transparent about it at all.
I think the USA should adopt a tax idea used in Australia. Every single year, I get a tax breakdown when I pay my taxes. It literally breaks down everything in line item form to show me exactly where my money was spent and how much is spent on each area or program (roads, healthcare, etc)
@@Kymberlee_W To be fair, it's about spending. If the income isn't there then spending needs to be reduced. If families can adjust their budgets then government should too.
@@Kymberlee_W LIE-beral TAX DRIVEL ON OFFER THERE As Woke Socialists want to TALK about money WHILE THE NATION GOES BROKE!!!!!!!!!!!!!!
@@Kymberlee_W Some of the States have incredibly high tax rates when compared to others, yet don't have the money to pay their bills. In these cases, it's not about how much comes in, but how much goes back out. This creates an efficiency rating comparable to each State.
Some can get a mile of highway built and maintained for 1/3 the price of another, for example.
Some build 50 million dollar fire stations while others can accomplish the exact same mission for 5 million.
I moved myself and my company from Connecticut to Tennessee. It was the smartest thing I could have done for myself and my employees. I couldn't believe the mindset in Connecticut on how wasteful they were with my tax dollars. Now they get none.
Natural disaster plays a role...
The brokest states built stadiums with taxpayer money and gave tax cuts to billionaires and corporations and we wonder why they’re broke 😂
City of Jacksonville, FL, runs by democrat, does that.
It is so insane these billionaire owners get the tax payer to build their stadiums.
@@samnangheng7702 This argument is always so stupid. You say it's a blue state, so it must be Democrats fault. You say it's a red state, so it must be a blue city. At what point do you just step back and say "Well, most politicians are just crappy" rather than this blue v red. Also, John Delany, a Republican, was mayor of Jacksonville back when the Jags built their stadium.
@@moomie1634 Look at the statistics. Demoncrat are good at wasting money and raising tax. Pro the lazy just to get vote from them and keep them poor. Took 28 years to build a 3 mile strip of road. Basically, they are a modern day slave master.
The brokest states are all firmly Democrat.
Sounds like government incompetence
Since day 1.
And corporations controlling them are not?
@@lextacy2008 Don't pretend like the government is the victim here. They allowed lobbying and corporations to influence policy making to sustain itself. The government itself is similar to a corporation and is the LARGEST employer in the US promising bloated pensions and benefits that are extremely costly. Did you think the government did this all unwillingly? What a naive fool of a taxpayer you are.
It's not. Its old people milking us on their way out.
Illinois biggest problems is pensions and healthcare, they promised way too much and young people must pay.
Essentially funneling money from poorest generation to wealthiest, as if social security, the second largest tax of all was not enough
@@abdiganiaden Key word being "promised". A contract was proposed and agreed upon.
Gotta love how they frame this as “the taxes are too low” nah, our government spends too much.
I know basic economics is hard, but let's give this basic concept a try, No Matter what the Cost of Living is, It is Too Expensive If You Have No Income. Your Republican Governors fulling intend on bankrupting their states, so they don't have to pay taxes.
Every Republican president of the past 60 years that went after the Fraud and Abuse in our government failed at that mission! Trump doesn't want to end the corruption, he wants a piece of the corruption! Cuz my boss always gets his 10%!
People want a dollar's worth of government, but only pay 50 cents for it.
@@duanedodson1jersey, Illinois, Connecticut, Vermont all notorious red states. Yeah man sure.
@@duanedodson1 I live in a perpetually-red state, and this video showed we're the top 5 most financially stable. Along with other red states. What bankruptcy?
Corruption, greed, wasteful spending
DemoncRats
In January 2025 everything will be better. (For the Rich)
@@h.w.7486 My 401k went up 5% since 11/6/24, I like it.
BTW, am not rich by any means.
Democrats
@h.w.7486
Taxes and revenue aren't the problem. It's the spending.
Taxes and revenue are a part of the problem because our irs has never been on a lower budget, along with trumps tax cuts out debt has kept on rising.
@AlwaysThirstys the US, in general, is like an individual who makes $2 million a year, but still somehow finds himself in debt up to his eyeballs. The issue isn't that he isn't making enough as he is making insane amounts of money. If he made $3 million he would still find himself with the same problems. He has to change his behavior and the financial principles he lives by.
@@michaelmadsen1222 Crazy you say this, but when trump inherited Obamas economy all he did was SPEND for no reason. This forced joe Biden to clean up his mess
@michaelmadsen1222 Amen Brother. How can people be so dense to not realize a simple fact?
@@AlwaysThirstysso the record amounts of taxes collected and new expanded IRS should have closed the deficit then? Except it’s only gotten larger and Biden is spending even more money
Spend your money wisely-invest in quality where it counts, for it often outlasts the cost of cheapness. Yet, remember that sometimes the simplest, least expensive option is the real gem in disguise.
Great advice and I live by it as well. I have wasted too much money and time on cheap garbage
Is the government really incompetent?
@@JessieeAlmarI hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My wife and I will be retiring in the next two years n another country.
We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with my Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
Exactly well said.. spread the wisdom
@@OsamahMocoI know this FA, Stephanie Janis Stiefel but only by her reputation at Neuberger Berman
; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since l watched her interview on WSJ last month.
I have a friend who used be in municipal government. His biggest frustration he described as this: "This town has five police chiefs. One active and four retired."
The right to cancel pension for police if city is in trouble
@@johnf6687 How about the tens of thousands of retired teachers? A whole lot more retired teachers getting a pension and very very good insurance.
Exactly. I know a guy in NJ who worked for a city for 25 years. Retired at 43, is currently 80.
The taxpayer gets nothing for this kind of lavish benefits. There is no way to make living affordable when you work for 25 years straight out of high school, then retire for 50 years.
@@TheSubdude123I'm fine with pensions in principle, but you've got to work till at least 65 to get full benefits; everyone else needs to work till 67 or higher
Younger generations dodn't exist solely to support others' retirement
@@TheSubdude123 I know an art teacher that is about to retire after 30 years teaching in California. She currently earns $130,000 a year and says her pension will be about $8/month. Not bad for job with summers and every holiday off, that teaches a largely unmarketable skill.
Have they tried building bigger highways and stadiums for private sports teams?? While giving corporations tax cuts?
If they repeat it for long enough, one day it might magically work
I think you mean "non profit" sports teams which pay tens of millions per year to players and staff.. shoot, sometimes hundreds of millions.
This is america.. nothing works, nothing makes sense and the weaker and more disadvantaged the person, the more BS they get. its as if the government is trying to make a hellscape for the people.
Worked wonders for Hungary, we are no. 1 in the EU! (in decrease in wages and rise of corruption)
Lmao. Illinois.
Sounds a lot like tax cuts for the rich is the real problem
Lol
In Illinois, the state has not made its donations for years to pension. I paid my portion, we all did. The pension mess is real, but keep in mind that the state chose not to set the money aside.
You shouldn't expect to make 50,000 usd a year from a pension from the public system, either. That's not helping things.
I retired from California at 42 as a lifeguard, making alot more 50/
@@glorymanheretosleepthey literally paid for it...wtf are you talking about ?
@@glorymanheretosleep "You shouldn't expect to make 50,000 usd a year from a pension from the public system, either." Uhh, if you paid into it and that was part of your salary agreement, of course you should expect the state to pay you are owed. The problem isn't that some people have $50K a year pensions, it's that the 1% grabbed most of the wealth so far fewer jobs come with pensions.
@@HealingLifeKwikly If Harris would have been re-elected the US would have financed your pension system.
We fed into our State Pension but every time it was over funded due to stock market gains they would skim money off and not pay in as planned. Eventually, that caused a big problem.
Start with CalPers they are first. LAUSD second
funny all dem states
@@markrivera2522 Larger cities need more administrative expenditures in general. Higher density areas in general has higher productivity and pay more taxes. But federal revenue redistribution is done purely by population. It's complicated. But there just should not be a defined benefit retirement plan. It's not manageable.
i'm from michigan. when former governor engler was in office, he raided the state pension fund to "balance" the states budget. well, about 25+ years later, the pension has never been paid back. personnally, i think that the state workers should have sued the governor for taking money that wasn't his (the state's) to spend.
@@draco4540I wouldn’t trust my money being controlled by anyone but myself. I especially wouldn’t trust government to manage money properly. They are the absolute worst managers of money.
It should be noted that Pennsylvania probably wouldn’t have a Pension problem if the government wasn’t taking money from the pension system.
Illinois is decades of mismanagement coupled with corporate welfare and taxpayers have to make up the difference
because they spent state taxpayers money to improve themself and help people from other states or not even US citizen. and we still vote for those people because we love what they doing with our money.
@@eile4219 Oh get real. Always xenophobic gibberish. Main cause of Illinois is pensions & healthcare for old people
But sure, let's let old people milk us while we blame the few people with couple hundred dollars per month in bare bones basic support. So cringe
@@eile4219 It's pension and healthcare that is eating most of budget dude. Old people milking you and you go after random poor folks
I think the corporations getting tax breaks for “bringing jobs” to the state is the biggest sin. Boeing got $60 million in tax incentives to move their headquarters to Chicago, they brought a whopping 500 mostly white collar jobs, should have at least required them to use Illinois contractors for parts or that a fair amount of the manufacturing is done in Illinois but apparently we favor a no strings attached relationship. I don’t begrudge people healthcare and pensions but massively profitable corporations and sports teams don’t need taxpayer subsidies.
@@abdiganiadenso they spent money that was designated for pensions on other things? The employees PAID into and earned their pensions. Be quiet if you’re ignorant.
Not every state spent like this. They knew that money was temporary and they intentionally spent it like it was permanent. They get what they deserve. They rest of us should not have to bail out other states with our tax dollars.
Unfortunately Covid isn’t the cause of this. It just made it happen faster and anyone who blames Covid needs to look at history
Most of the bankrupt states pay the most into the Federal pot.
Corruption, corruption, nothing else
No, that's just a small portion. Follow the money
Mostly democratic states
Lemme add one thing - indemnification
In other words, no accountability.
@@MacchiatoSwirlGirl These places aren't run by Republicans
@@MacchiatoSwirlGirl Are you kidding? Look at the states that are in trouble and then look up the prevailing political party in their governor's office and legislature over the last 30 or 40 years. Especially look at the 5 states mentioned. All very left-wing.
Incorrect CNBC. The reason is Democrats.
This is not political. There are more republican states that are going through financial problems than democratic states.
@@jettonjets1557 incorrect.
@@jettonjets1557which ones are they
The Democrats know how to waste money on stupid things that end up in your the pockets of the politicians
The brain rot here is insane… wake tf up and look to fix it instead of pointing fingers like children. The only way things improve is if we solve the problems together. Things won’t improve by dividing each other and complaining like snowflakes.
My state is legally required to balance the budget every year. So, sometimes there’s last minute cuts or increases in sales taxes midyear in order to meet budget. More states should do the same!
Depending on how you define it 40-49 states are required by law to have a balanced budget. Vermont is the only state with nothing in writing. The issue is various loopholes or strictness exists. Some states are given a window to have a balanced budget other need only propose a balanced budget not necessarily pass it. Either way nearly all Americans states must have a balanced budget in a certain period of time so what we’re seeing in the video is a snapshot. For example California had a surplus for 2022 now they’re in a deficit it will not be surprising to see a surplus again in 2-4 years. The issues is too many states a cyclical in the deficit to surplus and it causes issues with running or managing agencies and obligations.
They are old and on their way out-& they don’t care. get them out of office!
Awesome ! What state are you talking about ?
@ Louisiana
State of???
The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
Biden is worst thing that happened to us
TRUMP 2024
Having an FA is the best way to go. Based on a direct encounter with a CFP named Julia Hope Marble I can say with certainty that their skills are excellent. She helped raise over 580,000 in 18 months from an initially stagnant portfolio of 150,000
Fantastic! Can you share more details?
was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
Funny how California has one of the highest tax rates yet the highest debt wonder whats happening to the money…. They charge us more taxes every year yet the money never fixes anything. Roads are horrible and gas is high where the money going?
Corporate profits
Exactly not even a high speed rail from SF to LA that they’ve been working on for over 2 decades!
and yet you stay year after year
Ca provides free lunches to all students. And it does have a lot to build and maintain. Even putting up a single restroom costs like 6M for the cities. Plus there’s a lot of universities. Compared to other states you really do get a lot out of your taxes.
Government wages are a lot higher than in ND too.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass wealth amid economy crisis, and even pull it off easily in favorable conditions. That should be the least of your concern. Also explore the option of working with a CFA to reduce greatly your chances of loss.
You're right, I and a few Neighbors in Bel Air Area work with an Investment Adviser who prefers we DCA across other prospective sectors instead of a lump sum purchase. As a result, my portfolio has recorded significant improvement even during the most unfavorable market season.
I'm intrigued by this. I've searched for investment advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Increasingly, we Americans are pricing ourselves out of our own country. That is why I say the USA is no place for retirees and pensioners.
Good keep these god damned immigrants out
My plan is to have a business here in the US but retired in mexico, where I have citizenship too
No, you Democrats are doing that. I live in Utah, we're just fine thanks.
Small towns are usually fairly reasonably priced. it's the houses in the bigger cities that all the city's workers are competing over, sending prices to the moon.
...and why I'm leaving this country when i retire.
Wasteful govt spending is a problem
Literally if we cut the DOD budget in half, we could fix all these states, and pretty much drain the swamp
@@thejquinn And the State Department. The sheer amount of money that is spent overseas for diplomatic BS we could have provided all these benefits to AMERICANS multiple times over.
@@thejquinn Your solution to state budgets is to cut federal ones? I get that the DoD is overfunded, but this won't balance the state checkbooks
@@米空軍パイロット Yeah, the Pentagon literally can't pass an audit. If we allocate that money that if even the ones that are simply miscounted we can lower the debt in many of these states.
Like giving billions for wars to other countries?
Maybe stop giving tax breaks to corporations who play a shell game with jobs.
maybe stop voting for the two party system
No, states need to balance their budget. You raise taxes the rich and Corp, they will just go to another state, and leave you even worse off. Stop coming up with dumb ideas.
Ironically, corp tax breaks are generally good for the economy. I think what youre talking is about is taxes for the .01%. Individuals do not need tax breaks and do not return much to the economy like a company does
Going to china
They give tax cuts because they want the company to STAY in the state. Did you gloss over the part where they can simply just move to a lower tax rate state?
Thank you 👍👍👍👍👍👍👍👍
Corruption, little oversight.
System rotten, top to bottom.
Wasteful police and overtime asking for more police money is a joke their overtime not needed
Road. Maintenance. Way cheaper to make roads than maintain them. People made roads without thinking about how expensive to maintain it would be. Still do.
trains for the win! choo choo
@@Staurcomb🎯 every major city should have extensive light rail & light rail should run through out the country!
Nah, they'd have enough for road maintenance if they A) stopped wasting those funds on buses and bike paths and focused on fixing the roads and B) petitioned the federal government to get rid of the very racist, Jim Crow era Davis-Bacon Act that unnecessarily increases the costs of labor on these projects! (For anyone wondering, while debating the bill in committee, one of the Congress members officially entered into the record that, at the time, Davis-Bacon would make sure black people could not take white jobs!)
@@Staurcomb cities and areas have taken out tracks in favor of walking trails....trails..
Rails that could lead to less trucks on roads, and/or create new commuter routes.
@@mpowe123 NONE of those trails were being used by ANYONE... No working rail can be taken away from a business using it. And if you want to complain about social meddling, do not forget the Big Oil work of the 1920's and 30's... The majority of those rails in cities being bought up by Corporations and ripped up in order to sell cars and gas...
Again... Wrong enemy... Mental laziness and self righteous harrumphing coming together to build another useful idiot for the elites...
Retirement plans are supposed to be being funded by current employees. State legislatures need to keep their grubby hands OUT of it.
You can thank ENRON for that.
Im in Illinois, A lawmaker here told our families we will need to downsize our homes if we cant afford our property taxes. She did not mention once that the government needs to downsize their spending. The state of Illinois does not cut spending they just look to raise taxes on the citizens. We just passed a law raising taxes on millionaires, I'm no millionaire but why do they have to suffer when the government mismanaged money and spending. Its only going to get worse here because we are losing a huge tax base to other states taking their money with them. And since this state does not know how to cut reckless spending, they will just turn to the citizens to make up the difference.
It's the same mentality behind the 2008 financial crisis: fiscal irresponsibility proliferates when groups think they are too big too fail or can delay their financial reckoning to sometime in the future for younger generations to deal with.
It will be worse than 2008
What's coming will make people miss 2008... seriously.
@@electrix8164 don’t worry. Trump will save us. 😵💫🙄
@@Dbb277-2 Sarcasm alert... I hope.
@@bosatsu76 yes, thus the emojis. 🤭
I live in Illinois and my property taxes tripled in the last two years. We have high sales tax, tax on groceries, tax on medicine, and we are also paying a 5% state income tax on top of federal. Let's not forget fuel tax, tax on car registration. City of Chicago car sticker tax. I feel like I'm paying more than my share.
💯💯💯💯 facts 😢
Bye Bye White Sox
And Illinois has turned around to a fiscally responsible state
Lets not forget this was everything we inherited from our past incompetent governors. Pritzker has been digging us out of the pit.
Those migrant arent going to pay for themselves.
@beanemac It's not that bad. I left Chicago 5 years and moved to Missouri which is way f@(king worse than Illinois. In Missouri, you have to pay property tax on your vehicle! That's a $500 to $800 *every year* just to own a vehicle, *plus* license plate fees are additional.
Always love how short sighted most politicians are. Make big promises and deliver on short term goals with no long term plan on how to pay for these things.
The voters of those dem governors are the short-sighted ones.
They are pandering to the shortsighted voters. They blow smoke up our asses because we insist on nothing less.
You cant run for reelection on problems you already fixed.
@@aidangattinger8975 you absolutely can. I’d like to see a candidate address the federal deficit properly
@@MrSurvival2and the media will try to undermine that candidate.
This only scratches the surface, the amount of unchecked waste/ fraud at state level is mind boggling
State and Federal government shouldn't be allowed to run a deficit... it's gonna CRUSH our children and grandchildren some day.
I agree especially Federal Government!! President Clinton was last one to leave Bush balanced budget with surplus!!! Then Bush had a recession!
Many states struggle to balance the need for quality education with budget constraints. Funding shortfalls can lead to less investment in schools and increased pressure on local property taxes.
It's good for governments to run deficits, and you'd know this if your schools were properly funded
The U.S. should look to other countries who are now building public infrastructure to mine Bitcoin to bolster their financial future. BRICS countries are making plans to create international trade settlements in Bitcoin - meanwhile the US dollar is being quietly taken off the petro market standard. When that money comes flooding back into the U.S., the inflation and debt equation will become crippling. A top digital asset analyst for a company managing over $100 Billion in assets, recently projected that the shift to Bitcoin for BRICS financial settlements along with 2% central banks future holdings could create a $3 Million dollar price per Bitcoin by 2050. Whether that’s accurate or not, it is the only currency investment with the power to stabilize wobbly inflation and debt-laden countries with a deflationary counter-balance. Without this strategy the US dollar will very likely collapse.
@@NewEarthAwakening lmao. The BRICS meeting is coming up and happening in Russia. Attendees were sent a memo saying that their cards won't work, and rubles can't be bought outside of Russia so they need to bring US dollars or Euros in cash to trade so they can spend money while there. They won't be allowed to exchange them back when they leave because Russia needs the dollars and Euros. Brazil and India are the only countries doing okay (barely) while the others are crashing and work against each other. Brazil, India and South Africa won't take China's goods, India and Russia are at odds with China or have major border disputes. In South Africa corruption takes close to 2% of the countries GDP, Brazil has unemployment of 14% is ranked 146 out of 184 countries for economic freedom and is one of the unhealthiest places in the world and is ranked "mostly unfree". Russia is sanctioned so bad they will be like south Korea very soon. China is failing every way and by 2030 they will have 18 65+ year olds for every 1 five year old, with youth unemployment hitting 45% and 800 million people living off of $320 a month, along with an economy that is failing while they are having border disputes with every country around them over land and sea. India is showing promise but 80% of the 1.5 billion people live in the northeast of the country because of terrorist attacks on the border with Pakistan. Just because Saudi Arabia let them buy oil in yuan doesn't mean the Petro dollar is at risk because they just exchange them for Euros or dollars so the exchange is still happening, it's just happening in Saudi Arabia instead of China because they can't get the dollars in China. You can wish upon a star regarding Bitcoins future but India already owns about 6% and that didn't push it to over $68,000, even with China ending up with 190,000 of them after "busting a scam", not just taking it and killing the actual owners (wink wink). You are believing VanEck's assumption that Bitcoin will have the same velocity as the US dollar. I hope that the US doesn't make one in the next 25 years or your assumption will be very off. You putting the BRICS associates, I can't even call it an alliance anymore, is even a blimp on the world radar is a huge mistake. I'd diversify a little because of the group who created it, who's anonymous and hidden behind a pseudonym. I wish you good luck but please stop falling for this lie that comes up once a year. The dollar's use went up from 80% worldwide in 2020 to 89% in 2023. While everyone is saying the dollar is ending, it's use and reliance is rising. Nothing is close to replacing it because the fact is the US increased it's holding of 3,000 tons of gold to over 8,000 in the last 5 years preparing to create their own digital currency which would make the anonymously made (hopefully) European Bitcoin drop like a rock. Enjoy. Lmao BRICS. 😂😂😂
Good on ya CNBC, didn’t think y’all would ever cover something like this. Great work, thanks.
Why would you think that?
They do serious economic reporting on UA-cam
Increasing healthcare costs, particularly through Medicaid programs, can put additional pressure on state budgets, especially as states expand their responsibilities under federal healthcare mandates.
a very unpopular way of reducing defictes : DO NOT SPEND MORE THAN YOU HAVE ........ will unfo never ever happen in the US !!!!
And then everyone will whine because there will be little to no growth and the economy will collapse. DEBT is absolutely vital for a Country or State in a Capitalistic Society, it's what keeps things moving and allows for a much higher growth rate.
@@HeplMeh false
Yeah well the same argument goes for states that keep lowing taxes with no increase in revenue…..both increase debt
@@malaineeward5249 You have the power of the Internet. There is no excuse to be this ignorant about how life around you works. Do better, or please for the love of God, don't step anywhere near a ballot box again, if you truly are that dumb and lazy. Millions of Americans have sacrificed their lives and bodies for this Country since it's inception, at the very least you can do is to learn about how things actually work and how their functions are so vital to the Society of excess we live in and life as you know it.
@@HeplMehAn amount of debt that can be contained by the growth. Can you honestly say that the debt we have now will be outgrown by the economy anymore soon?
Insightful piece of journalism.
We have Billions to give away, but we can’t put in use for our country. How is that possible???
It’s not all about Americans okay
Cause Israel gets people to donate to politicians for them as a wat to bribe for free money and somehow portray them as a western ally
Lmao that's petty funny @AdrianB2016
@@AdrianB2016yes, it is. We should be focusing on our own country first before even thinking about any other country. We should save our own people first before saving those outside our borders.
This has been eating at me for years. I didn't have an explanation until watching 'Inequity For All' by Robert Reich. I'm not an economist, but he IS!
For the states not too deep in the hole, I hope they reverse their spending habits.
Too much taxes on the average citizens means less money circulating in the local economy.
I moved from PA to NJ for my husband. We pay SOOO much in taxes. I dont know where it goes. Ridiculous.
I'm moving to New Jersey to New Hampshire soon. Good luck.
Highway/Road infrastructure building and maintenance
Nope teacher’s pension and sooo many township employees not getting any better anytime soon I live in New Jersey and pay 8,000 a year in property taxes for a small 1500 square foot house it is what it is 🤷🏻♂️
We also make more money on the whole in our jobs in New Jersey than we could in other states. It’s all relative.
@@SaintGBar22 haha I didn’t say I was moving away from New Jersey I do make a good living here said it is what it is 😎
The fact these states are paying their employees before their constituents is disgusting. Your tax payers are not getting hospitals but they are making politicians and police chiefs super wealthy.
Anyone else noticing a patern with most of these States you're not supposed to notice?
Careful fam, you're not allowed to notice patterns
🤫🤫🤫
Ahhh yes they all seem to vote the same way
That's why those particular states 'have the blues'... it's because they ARE blue.
@@username-mc7jw Yep, Noted Blue States like Texas, Alabama, Mississippi, Louisiana, Kentucky, Ohio, South Carolina and Kansas.
If there’s any pattern to be noticed here it’s that both political parties have a problem of spending more than the population is willing to be taxed.
Government incompetence lead to this. However, the bigger problem is when government and activists believe the solution is to trust them with even more tax payer money
the Government will become homeless as well
Activists aren't trusting the government. They just want to siphon from the government programs that fund their nonprofits.
It all goes back to the people who vote elected officials into office.
by design
socialism is coming
agenda 2030
So clearly we should just abolish the government, yes? Anarchy FTW.
For years Maryland was debt free because of the Maryland's Comptroller Louie Goldstein strict financial management. The current Comptrollers have messed up the system.
ya know what i hear? Everytime the richest amungst us, those who can afford an equitable share of the tax burden they move to where they can pay the least
Yeah. That's smart, not criminal.
I talked to people about this forever. If you move thinking you will escape high taxes, you’re kidding yourself. You are taxed on everything you do and it will continue if tax cuts continue. You can run but you can’t hide.
i remember working overseas with Americans and they said they still had to pay taxes
The very wealthy get every tax break while the middle class gets crushed
Trickle down economics has failed
Ah, but the taxes aren't the end. Regulations usually follow taxes and places like California either have a surplus that they spend immediately, or a huge deficit they use as an excuse for more taxes... and regulations are infamous in California. States that actually balance their spending within their existing tax base are far less likely to kick taxes up over and over again, nor choke you to death with regulations.
@dking1836 regulations are not the problem,
And FYI
California is the 5th largest economy in the world,
It's the biggest Contributor to federal taxes in the US by far
It's not going broke, yes it has a big debt, but it's not in trouble
The Pandemic hurt all states, there are many factors
California keeps getting knocked by the GOP,
Prove that you're making 0 but hide the actual income like Dump and the sketchy folks do
For IL and NJ, it's pensions. The pensions were not properly funded while they were accruing liabilities for decades.
Yes, and in NJ it started with Gov Christie Whitman, a Republican.
Same with Detroit!!
And California keeps digging deeper and deeper into debt and people's pockets.
@@todd2324 wrong again
@@anthonyroberts2678 detroit 100% dem Run since 1961
Those states that have less debt because they have fewer residents and more corporations. There's no way North Dakota could fund itself if it suddenly had the same population density as Connecticut and New Jersey.
Illinois has believed in the " kick the can " policy for decades. Don't pay what you owe today when you can put it off until tomorrow, or the next day, or next year, or let the next guy in charge worry about it and don't pay off anything at all.
My neighbor retired from the illinois tollway. His pension is more than I make and he pays nothing for health insurance
Please don’t take this wrong. When an elder in my family dies we are leaving Illinois.
That’s literally the oil companies mentality and why our world is burning btw
Some states are experiencing population decline or out-migration, leading to a smaller tax base and decreased economic activity. This trend can disproportionately affect rural areas and aging populations.
At this rate, who is going to bailout federal government?
The money printers. They have no self-control.
You, your children, their children and on and on. Until people stand up and hold their elected officials accountable.
@@bjohnson8371they might call you an insurrectionist lol
China
The Federal Reserve... money printer goes brr 😂
Good, solid discussion. Unfortunately, I have heard much the same discussions going on for years now. Illinois has always been the poster child for government mismanagement.
Now we have Pritzker though
@@n1gtwhisper158please. Democrats have controlled Illinois for decades (see: mike madigan). They've raised taxes so much people are leaving Illinois, and downstate is so neglected that they want to secede (don't blame them, Chicago outvotes em all)
I think that California has taken the crown. The government out there must be braindead.
California is trying their best for that top spot...
I think though what people don't realize is red states will be in trouble is blue states fall. For how important they are to the economy if they do fall red states will lose a lot in federal assistance which helps them keep their balanced budgets.
So as far as KS goes: Brownback fucked it up, that’s why our governor is a democrat in a red state. Kobach was Brownback 2.0 and was running as Republican.
Conspicuous in this report’s absence is any mention of corporate tax breaks and related corporate welfare (“subsidies”). Not ONE person interviewed addressed this 800-lb gorilla in the room. Not ONE.
Cancel the corporate welfare. I hope these companies can pull themselves up by their bootstraps
What's funny is that all the Democrats whining about Reagan and his "supply-side economics" then turn around and implement it for THEIR favored industries! Newsom just the other day offered a big tax break to movie studios "cause they create jobs" - which is the entire argument for supply-side economics that Democrats whined about! (The difference was that Reagan wanted to give it to ALL businesses, not just corporate friends.)
In blue states, corporate taxes are high AF
Corporations paid higher tax in the 70's and 80's! Helped balance Federal Government Budget!! trump debt was 7.8 trillion!!!
States that rely heavily on federal funding for their budgets may face challenges if federal support is reduced or reallocated. This reliance can make state budgets more vulnerable to changes in federal policy.
@@JamesBrown-dv4ve They may have paid a higher tax in the 70s, but perhaps you should look into the malaise that the decade was known for! Reagan pushed through tax cuts in the 80s, which is why that decade is more well-known for being more prosperous.
Can you list the states like WTF why make a title like this and not name all of them????
very good & informative
Too many government workers and politicians. Too much government pension.
Why do we pay federal legislators for life if they spend 1 term there? What is the annual cost for all prior legislators?
Government pensions aren’t the problem if they are properly managed. The Indiana Public Safety pension has consistently been 95%-100% funded since the 2008 Recession. A couple years it was 110% funded, so they gave cities a few percentage point decreases in the amount they pay per employee.
@@timothytaylor6447 To qualify for a pension, individuals must accumulate at least five years of service. As of October 1, 2022, 619 retired Members of Congress received federal pensions based on their congressional service. Of these, 261 retired under CSRS, with an average annual pension of $84,504, and 358 under FERS, with an average annual pension of $45,276. Elected officials in Congress are categorized into two retirement systems:
1. Civil Service Retirement System (CSRS): This system applies to federal employees hired before 1984 and provides more favorable benefits. However, CSRS is no longer accessible to new members.
2. Federal Employees Retirement System (FERS): This system replaced CSRS in 1984 and includes Social Security and the Thrift Savings Plan (TSP).
Most current Members of Congress are covered by FERS, as CSRS is no longer an option for those entering service after 1984. A U.S. Senator or Representative is eligible for a pension after serving at least five years, which is the minimum service requirement for federal retirement benefits. However, they must also be a specific age to receive the pension.
Retirement benefits are determined by the interplay of years of service and age. For example:
• At age 62 with five years of service
• At age 50 with 20 years of service
• After 25 years of service
The pension amount is calculated using a formula that considers the average of the highest three years of salary and years of service, capped at a predetermined percentage of their final salary.
That isn't what's causing the problem
@@timothytaylor6447 for senate and congress, its 5yrs for full pension.
So we're not going to talk about how corporations don't pay taxes, but the civil servants who make our government run don't deserve the retirement they've worked for?
What do government employees produce?
i see you are not to Smart 1st we have to many of them, we have a fed gov worker per 600 people 2nd they are very well paid . Avg private sector worker 65k avg fed gov worker 95k. 3rd they have some of the best retirement in the Us
When the owners (shareholders) receive income from the corporations, they do pay taxes. Government employees do not pay taxes. It is all paid for by the private sector who pays all the taxes. A kickback from a govt employee back into the pocket it came from does not constitute 'paying income taxes'. It all originates from the private sector. Also the retirement, health care, sick days and all holidays are paid for by the private sector. Mostly by tax payers who do not receive any of those benefits.
@@bobnankervis9722 a fed gov worker does not pay net income tax as a fed gov get paid my the fed gov a private sector worker pays a lot of fed gov income tax
@@Epicbob-c2l What does Elon Musk actually produce? What do cheif executive officers and chairmen of large corporaions produce? Now do you gett it?
We can start by paying Congressmen only a percentage of the highest paid employee in their district instead of paying six figures to them for doing nothing.
Just stop shielding the rich from taxes.
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All of the states going broke have the highest state tax on top of Federal Tax and are the most expensive places to live. They have a spending & competence problem.
The high tax states boomed many years ago and have much older infrastructure and pensions to take care of.
It is possible to get out of debt. But it will come at an extremely high cost. One that we American people will unfortunately never be able to undertake.
Who told you that it would come at a high cost? Was it a politician? Did it come before or after “and that’s why you should vote for me”?
@@Ir0nFrogwhy wouldn’t it be high? They cut spending, so people lose benefits or they raise taxes so we pay more. They need to start trimming now or cut of wasteful spending
Blaming food inflation on climate change instead of reckless monetary destruction was real smooth.
Best way to help with finances is zoning reform. This involves removing many local zoning restrictions that restrict housing supply. This will have impact of lowering housing costs and expanding tax bases for both state and local governments. The increase local revenue will also reduce states bailing out local governments.
And eliminate golf course tax breaks (or eliminate them completely as a complete and utter waste of space). Millions of units blocked from being built (and billions of taxes not being collected) because some rich people want to drive a mini-cart, and some poor people who want to pretend they are rich.
@@rebeltheharem7028 I honestly don't know enough about golf courses. In general I think all zoning polices need to be on the table.
@@rebeltheharem7028rich people pay the majority of taxes. Go tell repeat baby mamas to close their legs and stop running to the government to fund their Illegitimate children.
Agreed! I also think that creating special zones and subsidizing raw building material to allow people to build their own homes inside these zones, could solve homelessness while spending less than what we currently spend for little to no results.
removing landlords will increase housing supply
Meanwhile Georgia is down here sitting on billions in surplus and looking for ways to return it to the residents.
...The State of Oregon manages to return surplus tax receipts to the taxpayers. Give 'em a call...
save the money, people dont need 100$ check
They have all the addresses get busy
@@gregoryeverson741.
Because the Republicans are in charge.
Seems like the most stable states are the ones with no people and nothing going on
Or they just know what they’re doing
Low housing costs means less money spent on salaries, social programs, and pensions. States with HCOL are the ones struggling, largely because of NIMBY politics that have blocked housing for decades.
Florida has no people and nothing going on?...
Put your thinking cap on and look at how the broke states vote.
I'll give you a hint they're all run by liberals.
We do not have a money shortage, we have a spending problem.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
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Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Its no secret some of these states are heavily subsidized
Red States support Blue States.
Blue? They subsidice the residents of red states. If the federal government stop charging taxes, the red states would go belly up with in a decade.
Yes, the red states.
Love the vertical axis with no unit label at 6:24 thanks CNBC for your clear numerical communication skills
Any state that wants a bailout should be kicked out of the US.
In a video about states that are financial basket cases, California barely gets a mention.
You'd think Kentucky would have more money considering we have both a state income tax, as well as a sales tax.
Lots of states have both income and sales tax
Only 3 Democrat states; Oregon, Minnesota, and Virginia don't have crippling debt, wonder why the rest do?
I live in Virginia. We are more of a purple state than a red or blue state.
Virginian here... It's coming. The blue wave voted on 2 different amendments to take on debt. We've gone from Red to purple to blue (Northern Virginia, the most populous part is decidedly blue). We used to get checks from the state when they had a surplus. Those days are gone.
Because MN invest in our children and our health.
Because most of them are run by communist democrats, Virginia is blue mainly due to Northern Virginia and would otherwise be a strong red state. DC continues to run the state down.
Virginia is a swing state and has republican governor
When abusive relationships come to an end, the victim is often left with stacks of bills, loans and credit card debt.
Enough is enough
How the hell is South Carolina broke? We have a balanced budget!
NC had a surplus, they argued over how to spend that. still don't know what they did with it. Gov Cooper never told us.
The budget is a guess so if less money comes in or more is spent than anticipated, this can happen.
@abrareads South Carolina has increased revenues every year from Boeing and Honda but, with BMW adding new Lines of Product the revenue from those 3 companies alone has grown by more than 50%>
@abrareads I forgot Michelin!
Plus, the state hasn't very many "Wards". There's more people living within 5 miles of Atlanta than the entire state of South Carolina.
Let us crank up the money printer and throw a party! 🥳
😂
@@turdians That happened 4 yrs ago. If it gets turned up anymore, we'll all be in trouble😆😆😆
@@JsPerspective Yes. The inflation rate and interest rates are **** correlated ***.
States don’t print money.
@nousernamesarevalid We know, but the fed will be lending loads of money as usual. But you should understand. The states are asking for loans to fund their debts
Manufacturing base leaves that's what you get.
overpaying city workers and then overpaying them in retirement.
NJ doesn’t offer anything yet we pay sooo mucchh in taxes. Where does the money go? No real public transportation, merry-go-round road networks, no bike infrastructure, 0 walkability, sub-substandard infrastructure….
NJTransit fare hike 😍
Decisions made in previous years regarding tax rates, spending levels, and budget priorities can have long-term implications that contribute to current financial difficulties.
Liberal social programs
Still better than the southern states
It goes towards pensions mainly. Might have to cut back on pension sizes for future public servant generations.
Illinois being horrible with money, what a surprise
They went broke from putting an extra S on every sign and it's not even being used.
As Warren Buffet puts it, _"I'm in a lower tax bracket than my secretary."_
The question is does the average person understand how this is possible? If you do not you need to increase your financial literacy. Trump/Vance 2024!
@@bjohnson8371trump is a buffoon and this will only get worse under his ignorance.
@@bjohnson8371I know I think financial literacy when I think of bankruptcy
@@herpiegerbstick6808 Daddy funded him building a casino and it still went bankrupt. He flies around in a jet he bought from his best friend Epstein.
@@bjohnson8371trump/Vance literally are for the rich. Trump never worked a blue collar job and thinks taxing companies less will increase the wages they pay…
I'll never understand why America doesnt privatize pensions. Pensions are so expensive. Let people fund their own pensions!
Given all the horror stories I've heard about private pensions and 401k, I'd rather just cut out the middle man and do the old-timey stuff in mattress trick. At least then I'd be the only one responsible for having a crappy retirement.
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She mostly interacts on Telegrams, using the user-name,
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??...that it ..
Say it with me now. ~Corruption~
"The debts largely relate to the public pension system"
Say it with me now. ~Quit spending so damn much, gut some of it~
"corruption" is inherent if you constantly fund the state with too much, they will inevitably be irresponsible and underdeliver.
$200 billion for Ukraine, but Illinois gotta beg for $10bil wtfff 😅
No pensions in my state of SC so why debt?............ 🤔🧐..............................
Say it with me, "GREED!"
My personal, non scientific, unsubstantiated and uninformed opinion is that this country will collapse in 20 years or less. Y'all better start buying those cheap houses in Japan.
Japan makes the United States look like amateurs when it comes to debt. They will collapse before the USA ever will.
in earthquake Japan? good plan, no really..
Stop waiving taxes on the rich. This is insane
10 States contribute to the Treasury.
40 States are subsidized by the Treasury.
Ok, but you're talking about Federal debt while this video is talking about State debt.
So, it's about the plans that the state government implemented.
nice lie
@@dknowles60
Public information easy to find and verify.
@@artandarchitecture6399
Ok.
So the people in 10 States subsidize the people in 40 States.
Now it sounds worse than initially thought.
@@artandarchitecture6399you know state economies contribute to the federal treasury right?
Thank you sooooo much Pritzker
the fact that you single handedly think it's his fault means you don't know anything. A republican ex businessman governor. How many governors before him politicians before him were running the state
@CoachChef It's a joke bro, calm your tatas. But I am well aware of our bad line of ex governors, the last 2 have been charged with and convicted of siphoning money. Don't feel so self righteous next time and do something useful with your time.
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I believe the wisest decision that should be on every individuaI Iist is to invest in a different stream of income and don't depend on the government to bring you money. It's aIways better to work smart and not hard.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
.......
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Honestly speaking.... I will continue to trade / and stick to Noah / daily analysis and guides as long as it works well for me.
Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude
It’s not climate change, it’s people moving into high risk areas for flooding and other disasters. The more people moving to coastal areas increases this risk. The more forest cut down for housing loosens soils for mud slides.
Some of these states built very expensive billion dollar sports stadiums during Covid-19 if you ask me .😮😮
my city wanted to raise property taxes to build a junior hockey stadium, started at 50million, and now costs 110million, but taxes didnt go up, we had enough people say no.
We going homeless with this one ☝️
you will, now the clown is in charge.. :(
🤑Government🤑 Over-$pending & 🤑 Pocketing US Taxpayer$$$ has Always been the Real Problem!
Standard government mismanagement across the board. Cut spending and stop spending money over seas. Its not the tax payers burden to shoulder.
Yet, the Federal government does not have any problem funding ukraine and Israel and increasing the budget for overseas military bases
They make the "money". If California made its own money, it too would seem to have no problems. Of course that money would soon be worthless just as dollars are losing value right now.