States Running Out of Cash Due to Drop in Tax Revenue

[kittenstormer]

Originally published at: States Running Out of Cash Due to Drop in Tax Revenue | Infostormer.com

Many states across the country are running out of cash.

US states face biggest cash crisis since the Great Depression https://t.co/HrklBpEVPc

— FOX Business (@FoxBusiness) October 29, 2020

This is a direct result of states deciding to close their economies because of a minor flu bug. This resulted in huge numbers of businesses going out of business. All those closed businesses were generating tax revenues for the state and because they were forced to close because of government edict, they are now generating zero tax revenue.

The outcome of this was fairly easy to predict if you possess just a little bit of common sense. Of course, most of the people who run things in this country have no common sense or are implementing insane policies for malicious reasons.

These states will probably be forced to go bankrupt since Donald Trump is rightly refusing to bail them out. But what they’ll no doubt try to do to account for these cash shortfalls is to raise taxes on everybody even though nobody has any money.

[Bon]

There is also the “civil insurrections” i.e., violent riots that have gone on in blue cities such as Philly, Seattle and Portland (with no end in sight).

You can be sure those businesses that were looted and burned won’t be coming back any time soon - they can’t get insurance, for one, and two, they’re not stupid.

That’s a lot of tax revenue the city and state won’t have.

Is it any wonder Whites are fleeing to red states?

[infostormer]

Right, there’s virtually no reason why anybody would want to start a business in these cities. Not only do you have the safety concerns with rioting blacks etc… but the city governments have shown that they are willing to prevent businesses from operating by force over virus and germ fears.