Courtesy of Mish.
In response to LA Commission Studies Pension Crisis, Recommends New Commission; Bankruptcy Inevitable reader Daniel writes …
Hello Mish,
Can you please explain why a home owner in a place like Los Angeles would be concerned with their city’s future bankruptcy?
Will whatever happens not be short lived?
I understand that city workers will be affected and that unions and union workers will be affected as well, but how would your typical resident/homeowner be affected in such a situation?
Thanks for your wonderful blog!!
Daniel
Tax Hikes Coming
Hello Daniel
In a futile attempt to prevent the inevitable, the first thing LA politicians are likely to do is raise taxes, all kinds of taxes. They will probably invent new ones too.
Please compare LA’s setup to Chicago.
Comparison to Chicago
Via email, Ted Dabrowski at the Illinois Policy Institutes writes …
Gov. Pat Quinn is in a bind.
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