Why do the states need bailouts from the feds?

Discussion in 'Political Opinions & Beliefs' started by I justsayin, Jul 3, 2020.

  1. I justsayin

    I justsayin Well-Known Member

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    So the states have been bailed out for decades? And what would happen if they don't get bailed out? Can we talk about why they need our tax dollars if they can't do what they're supposed to do for us? I don't get it. A lot of us didn't even know we were paying for bail outs. And we have nothing to show for it.
     
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  2. I justsayin

    I justsayin Well-Known Member

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    We need the truth.
     
  3. MJ Davies

    MJ Davies Well-Known Member

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    Every working person in the US has federal and state taxes out with each paycheck. What did you think taxes were for?
     
  4. I justsayin

    I justsayin Well-Known Member

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    Aren't the states supposed to manage the money correctly?
     
  5. MJ Davies

    MJ Davies Well-Known Member

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    Of course. What does that have to do with your OP?
     
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  6. fmw

    fmw Well-Known Member

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    It is inexcusable. It should illegal for federal funds to go to a local or state government or any business unless the federal government is buying something from them. It is how federal government fights against federalism.
     
  7. Rugglestx

    Rugglestx Well-Known Member

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    Texas has no state income tax :)

    No ideal why broke ass California continues to be broke yet brags about how big their economy is.
     
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  8. OldManOnFire

    OldManOnFire Well-Known Member

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    The Federal government is the only government who can have deficit spending. All other governments are required to balance their budgets...pay their way. Therefore, all governments except the Feds are incapable of handling on their own things like Covid-19, hurricanes, fires, earthquakes, recessions, etc.

    Basically it's a big scam...a shell game, designed to deal with citizens who won't allow government to be reduced in size and won't pay higher taxes. Since not a single person in the US cares about national debt, the Feds just keep borrowing and sharing some of it with state and local governments. There is no possible way to change this without greatly reducing government services and it's cost, or, greatly increasing taxes, or some of both. Americans cry like babies when government is reduced or taxes increased! Americans refuse to fund the governments which they demand...and herein lies the problem...
     
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  9. Lesh

    Lesh Banned

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    States have had huge reductions in revenues because of the pandemic.

    If the Fed doesn't bail them out they and we are screwed
     
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  10. Texan

    Texan Well-Known Member

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    Which states are having problems meeting their budget and why are other states not having the same problems?

    The world will quit using the dollar if the feds keep printing more to bail out every state and every nonworking American. We will become a bigger Venezuela.
     
    Last edited: Jul 3, 2020
  11. Lesh

    Lesh Banned

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    Which states?

    All of em

    As far as "printing more money"...we aren't even CLOSE to that being a problem
     
  12. I justsayin

    I justsayin Well-Known Member

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    They've been bailed out for decades. It's not because of the pandemic. What about all the other decades of mis management?
     
  13. Texan

    Texan Well-Known Member

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    How can Texas be broke when it has its pension system backed by gold and a $10B "rainy day" fund sitting in the bank?
     
    Last edited: Jul 4, 2020
  14. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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    Why do billionaire corporations need bailouts, yet the got 500 billion with no oversight?

    That is the question you need to ask.

    Covid has caused mass unemployment, and states are not currency issuers. If people, masses of people, have no means of support, and due to covid, there are no jobs, then we are in a situation like what happens in a volcano
     
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  15. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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    Blue states, on the whole, send more money to the US Treasury than they take back. Red states, however, take more from the US treasury than they give.
     
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  16. RoccoGiarre

    RoccoGiarre Active Member

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  17. Patricio Da Silva

    Patricio Da Silva Well-Known Member Donor

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    A progressive tax structure and a Warren's wealth tax, meaning the vast majority of folks won't get a tax increase, will go a long ways to help the problem.

    Our nation's billionaires made half billion during the pandemic, I hear.

    The question is, is that right? I say no.
     
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  18. Texan

    Texan Well-Known Member

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    Only if you pick and choose the definition of "send more money ". Does that include personal welfare, military spending, border enforcement, NASA? How do you define it? Which states can't run a pension program and why?
     
  19. Kranes56

    Kranes56 Banned

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    I would also like to add the lack of coordination from the federal govt on even the most basic of supplies. But you nailed it. States can’t do deficit spending.
     
  20. I justsayin

    I justsayin Well-Known Member

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    There really shouldn't be money in pensions if they can't cover their states needs. That's insane.
     
  21. I justsayin

    I justsayin Well-Known Member

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    And they shouldn't do deficit spending. States are in the same situation as individuals. If you need money you can't have a reserve. Why do you need welfare if you have money? The local government needs to prove to the people who pay them with taxes they earn their keep.
     
  22. Kranes56

    Kranes56 Banned

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    Umm... what? What do you think your mortgage for a house is?
     
  23. PPark66

    PPark66 Well-Known Member

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    The fundamental difference between the FED and a state Government is one is the issuer of currency and the other is a user of currency.

    The scam has been and continues to be that the FED is the same as a state government or a household. It is not.

    The FED can clear ANY payment authorized by Congress. Unlike a state government or household the money will always be there.

    So with the FED it’s never a question of will the money be there but rather how will the economy absorb the dollars, do we have the real productive capacity?

    As for the state’s they’re losing income and their expenses are shooting through the roof because of this pandemic. The FED has the money the state’s will not—give them the cash. There is no reason to inflict additional harm to citizens. Zero.

    In close, “do we have the money” is NEVER the right question to ask the FED. If we do the answer is ALWAYS, yes we do. The FED is on vastly different plane than a state government or household and its past time we stopped conflating the two.
     
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  24. Texan

    Texan Well-Known Member

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    That's my point. Not all states are mismanaged.
     
  25. OldManOnFire

    OldManOnFire Well-Known Member

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    Wealthy Americans pay their fair share...this is a fact. Wealthy Americans are not the answer to solve government's lack of funding. Wealthy Americans are only 'part' of the answer just as you and I are 'part' of the answer...
     

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