79% Say U.S. Economy Could Collapse - Page 2

afchic · 03-24-2010, 09:40

Quote:

Originally Posted by Team Sergeant

Here's another issue that's going to leave a mark next year, declining property taxes. As the bank owned houses hit the market and more and more fall into bankruptcy it's destroying property values. I've seen well over a 50% loss in home value.

Now jump to next year. The good news, I will be paying 50-60% less in property taxes to the state which begs the question, is my state ready to lose another 50% in tax revenue? Right now Arizona has a 10% cut in every department it supervises, a 50% cut will place this state into bankruptcy.

The Feds do not have any money to bail out the states.

The up side is I/we will be paying more in federal taxes thanks to socialists and I know we'll just give that money to those in bankruptcy proceedings and illegal immigrants.

Brilliant.

This is going to be much more painful in just 12 more months.

TS

You're lucky, Thanks to IL politics, they will just increase property taxes for those of us that have been responsible. My county covers East St Louis, so you have a realtively affluent area being taxed to the hilt to support East St Louis. To what avail? All East St Louis is, is a bunch of empty buildings, crappy houses that no one takes care of, and government housing. There is no revenue in that area, they don't contribute to anything, but use the most amount of tax revenue.

Buying that little island in Honduras near Roatan is looking better and better!!

LarryW · 03-24-2010, 09:55

The following timeline scares the crap out of me:

2010 mid-term elections
2011 work-ups to 2012 elections
2012 elections (ITE the world doesn't end)
2013 work-ups to next mid-term elections
2014 Obamacare hits and there's another mid-term election
2015 work-ups to next Prez election
2016 yet another Prez election

I started a summary of what I think are going to be the scenarios (political, foreign policy, domestic, and economic) over the next 10 years. So far the only thing I've accomplished is scaring myself half to death. The scenarios include a new world currency based on a Chinese Yuan and Russian Ruble, a military/economic alliance between Venezula, Mexico,most of Central America, and Cuba, the collapse of the Euro, the rise of a New Socialist Party and a Nationalist Party, and a 25% unemployment rate.

I have to get a day job. Anything.