If the law says you can't cut benefits, then you look at solutions, i.e., increasing the sales tax by a penny. If states and municipalities regularly do such to fund stadiums for professional football teams, then it's a no-brainer that similar should done to ensure that public-service retirees get every dime they're entitled to.

 

I would suggest making it 10 cents on the dollar tax and give everyone a bonus.

 

This suggestion won't work on so many fronts I won't waste my time.

If you've lost 60% of your population over the past 60 years, who's left to pay the tax?

There are ways to boost local revenues without further burdening the remaining residents -- the "urban faithful." Having said that, any long-term solution may well require regional or state or even national participation. (If we have banks too big to fail, then I would argue that we also have cities too big to fail.) A healthy Detroit = a healthy region = a healthy Michigan. No room for suburban narrow-mindedness here.

There are ways to boost local revenues without further burdening the remaining residents -- the "urban faithful." Having said that, any long-term solution may well require regional or state or even national participation. (If we have banks too big to fail, then I would argue that we also have cities too big to fail.) A healthy Detroit = a healthy region = a healthy Michigan. No room for suburban narrow-mindedness here.

 

So I should pay more in taxes because of Detroit's corrupt leadership and the citizens inability to elect quality leadership? How in any sense does that make sense. If I'm going to pay extra taxes to bail them out then us suburbanites should be allowed to vote for future city elections .

 

Serious question do you know what an unsecured debt is ?

What happens if the courts allow Detroit to renege on its pension obligations?

 

Detroit bankruptcy tests state pension protections - KansasCity.com

 

Detroit has no money. What can't you grasp ?

So I should pay more in taxes because of Detroit's corrupt leadership and the citizens inability to elect quality leadership? How in any sense does that make sense. If I'm going to pay extra taxes to bail them out then us suburbanites should be allowed to vote for future city elections .

 

Serious question do you know what an unsecured debt is ?

Bash -- I'm glad we both agree that you need to be part of the solution. A healthy inner city = a healthy suburbia. Perhaps up in Detroit, regional government is the answer.

 

Correct me if I'm wrong, but one problem with an unsecured municipal liability (pension obligation) is that there's no public sector equivalent of the PBGC.

There are ways to boost local revenues without further burdening the remaining residents -- the "urban faithful." Having said that, any long-term solution may well require regional or state or even national participation. (If we have banks too big to fail, then I would argue that we also have cities too big to fail.) A healthy Detroit = a healthy region = a healthy Michigan. No room for suburban narrow-mindedness here.

 

So there is a state surplus or national surplus that can be used to bail out Detroit?Michigan has a surplus???? The US Government has a surplus???? Certainly we can add to the the debt and kick the can down the road, but isn't that what got Detroit in the problem in the first place?

If the law says you can't cut benefits, then you look at solutions, i.e., increasing the sales tax by a penny. If states and municipalities regularly do such to fund stadiums for professional football teams, then it's a no-brainer that similar should done to ensure that public-service retirees get every dime they're entitled to.

 

An article I read said Michigan was charging the maximum rates allowed by Michigan Law. While I am not sure I like a state telling cities what tax rates it can levy, regardless, it sounds like Detroit is already hanging a pretty heavy tire around the necks of its citizen which probably had alot to do with the tax base heading out of town.

So there is a state surplus or national surplus that can be used to bail out Detroit?Michigan has a surplus???? The US Government has a surplus???? Certainly we can add to the the debt and kick the can down the road, but isn't that what got Detroit in the problem in the first place?

If Uncle Sam spent close to a trillion dollars to "bail out" Baghdad and Iraq, then, yes, we also need to bail out Detroit and its public-service pensioners. And while we're at it, we also need to build (with federal dollars) a new toll-free I-75 bridge connecting Covington and Cincinnati.

If Uncle Sam spent close to a trillion dollars to "bail out" Baghdad and Iraq, then, yes, we also need to bail out Detroit and its public-service pensioners. And while we're at it, we also need to build (with federal dollars) a new toll-free I-75 bridge connecting Covington and Cincinnati.

 

Why in the world should we bail them out?

Federal court just blocked the law suits trying to stop the bankruptcy.

If Uncle Sam spent close to a trillion dollars to "bail out" Baghdad and Iraq, then, yes, we also need to bail out Detroit and its public-service pensioners. And while we're at it, we also need to build (with federal dollars) a new toll-free I-75 bridge connecting Covington and Cincinnati.

 

I think we should build everyone a roller coaster with an ice cream machine and petting zoo and enclose it all in a huge castle. Don't you???? Certainly you do because you care nothing about real math and how it works.

I think we should build everyone a roller coaster with an ice cream machine and petting zoo and enclose it all in a huge castle. Don't you???? Certainly you do because you care nothing about real math and how it works.

My wish list costs a heck of a lot less than what we spent in Iraq ($1,000,000,000). Whose math is distorted?

My wish list costs a heck of a lot less than what we spent in Iraq ($1,000,000,000). Whose math is distorted?

 

I have no wish list. I want expenses to be less than revenues. That is math.

I have no wish list. I want expenses to be less than revenues. That is math.

I hear what you're saying. In my own household, I'm a fiscal conservative, which is why I personally have zero debt. I owe nobody nothing. Zilch. I've saved money over the years and made some smart investment decisions. Deficit spending on a government level, however, is a fact of life. What really, really, really upsets me is how this country spends hundreds of billions of dollars on land wars in Asia while bridges, roads, even entire cities crumble, and the collective response often is a big yawn.

My wish list costs a heck of a lot less than what we spent in Iraq ($1,000,000,000). Whose math is distorted?

 

The problem is you consistently show a lack of knowledge of economics and use trivial liberal utopia arguments that aren't based in reality.

 

I'll ask again do you know the difference between a secured and unsecured debt ? Also you understand there is precedence in this country for municipalities filing bankruptcy and for public pensions being slashed. This happens to be the largest but not close to the first. The citizens of Detroit had every opportunity for 50 years to elect the right people. You learn nothing and fix nothing by not allowing a bankruptcy.

 

Honestly I'm amazed grown adults actually think the way you do when it comes to economy. Ignore math and law , hilarious .