By Kevin “Coach” Collins
Question: What’s the new significance of red white and blue?
Answer: The Democrat controlled BLUE states are hemorrhaging RED ink and bleeding tax payers WHITE.
Between 2004 and 2008 two things happened in New Jersey. It got Bluer and its tax base got smaller. An estimated $70 billion worth of taxable wealth and another $2 billion in charitable giving has run out of the state.
New Jersey’s Chamber of Commerce traces the start of the wealth exodus directly to 2004 Democrat crafted tax increases on the so-called “wealthy.”
In recent years Maryland has imposed a Millionaire’s Tax with similar results. In the span of one year its number of “millionaires” dropped by 30% causing as loss of millions of tax dollars.
Because of the State and City of New York’s crushing taxes, since 2000, New York State has experienced the largest outward migration in the country. New York City lost 1.1 million taxpayers who made 13 % more than those who have taken their places.
A new Forbes magazine report lists the states in the worst financial condition and those in the best condition. Each of the former, Illinois, New York, Connecticut, California and New Jersey are Democrat Blue States and three of the five in the latter group Utah Nebraska and Texas are Republican states.
Forbes asks and answers the obvious question: Why?
The cause can be directly traced to the relative strength of unions and the “something for nothing” attitude that comes along with them. Because of the large union presence in these states, especially in their state and local governments, the pension liabilities they have to contend with kill their bond ratings. The healthy young and productive people in these deep Blue States run away and leave old Greedy Democrats with their hands out.
A Gallup poll identifies ten of the worse twenty three states as having a Democrat registration edge of ten or more percent. And calls them “solidly Democrat.”
Seven of the ten most Republican states rank in the upper 25 in financial health.
“Per person debt” and “per person share of unfunded pension obligations” tell the story of how states are actually doing. Utah rates best with “only” $7,272 per citizen in unfunded pension liabilities. By contrast Illinois has saddled its citizens with a $17,230 unfunded pension obligation. That’s each citizens bill!
One can almost hear the moving vans starting up in “The Land of Lincoln” and the rest of the Blue States. The future will see full-fledged people drains from Democrat states.
What did you do to be worthy of your American freedoms yesterday? What will you do today and what do you plan to do tomorrow?
Yesterday’s Rasmussen Presidential Index had Obama at –12
This day in history March 2
1877: Just two days before Inauguration Day, the Congress declared Republican Rutherford B. Hayes the winner of the election held November 7, 1876 in which Democrat Samuel J. Tilden had won the popular vote, but not the Electoral College vote.
Have you read this week’s “Betcha didn’t know this..” page? It’s loaded with interesting little “bite size” items you’re bound to enjoy.
Comments on this or any other Collins Report essay can be sent to kcoachc “at” gmail.com