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SunnySide · 04-03-2020, 01:49 PM

Should States most affected by the Coronavirus get Federal stimulus for their budget deficits caused by Corona?

Closed businesses, people not working = less anticipated State tax revenue. Budgets were set before Corona hit relying on businesses being open and people working and paying taxes.

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Costs associated with the coronavirus pandemic are mounting. What could be the focus of the next federal bailout? States with deficits that are growing as a result of lost tax revenue and higher unemployment, education and health costs.

The states facing the largest deficits will be blue states, including California and New York.

Given that the federal government is already providing states with $150 billion in aid to help cover unemployment, education and medical costs, you can expect some states and even localities to ask for more federal aid to cover their deficits.

Today California and states like it spend billions upon billions of dollars annually on blue-state social-justice programs. Meanwhile, California is consistently at the bottom of surveys for fostering business startups.

If the new normal becomes "all taxpayers must pay for deficits in other states," it will not only encourage reckless spending and poor business practices, it will deepen our red-state blue-state divide. For these reasons and others, the federal government should avoid covering state deficits.
https://www.foxnews.com/opinion/tom-...avirus-bailout
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important to note, this opinion piece is not from a current sitting republican but from the former Chairman of the Republican California Party. So we cant take this one guys opinion and say it represents the Republican opinion etc ..

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What the writer leaves out is the fact that these blue states hit hardest - California and NY - pay more to the Feds than they receive.

If you think States should not be propped up by the Feds .. you have to apply that logic to all States in all times.

CA - pays the Federal Govt 13.7 BILLION more tax dollars than it receives.
NY - pays 24.1 BILLION more to the feds than it receives
https://www.businessinsider.com/fede...-1#new-york-32

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HOUSE SPEAKER PAUL RYAN:

— Ryan said the rest of the country is “propping up profligate, big-government states.”

— “States that got their act together are paying for states that didn’t,” the Wisconsin Republican said.

TREASURY SECRETARY STEVEN MNUCHIN:

— “We are getting the federal government out of the business of subsidizing states. That is going to impact high-tax states.”

THE FACTS:

Connecticut residents paid an average of $15,643 per person in federal taxes in 2015, according to a report by the Rockefeller Institute of Government. Massachusetts paid $13,582 per person, New Jersey paid $13,137 and New York paid $12,820.

California residents paid an average of $10,510.

At the other end, Mississippi residents paid an average of $5,740 per person, while West Virginia paid $6,349, Kentucky paid $6,626 and South Carolina paid $6,665.

Low-tax red states also fare better when you take into account federal spending.

Mississippi received $2.13 for every tax dollar the state sent to Washington in 2015, according to the Rockefeller study. West Virginia received $2.07, Kentucky got $1.90 and South Carolina got $1.71.

Meanwhile, New Jersey received 74 cents in federal spending for tax every dollar the state sent to Washington. New York received 81 cents, Connecticut received 82 cents and Massachusetts received 83 cents.

California fared a bit better than other blue states. It received 96 cents for every dollar the state sent to Washington.

On average, states received $1.14 in federal spending for every tax dollar they sent to Washington. That’s why the federal government has a budget deficit.
https://apnews.com/2f83c72de1bd440d9...low-tax-states

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This is only one guy. And he has a "former" in front of his name.

I really hope we dont hear any current Republicans from say Kentucky, WVA, Mississippi or S Carolina say the federal governmetn shouldnt prop up individual States.

04-03-2020, 01:49 PM	#138
SunnySide Playmaker Join Date: Sep 2019 Posts: 4,568	Re: Coronavirus (political) Should States most affected by the Coronavirus get Federal stimulus for their budget deficits caused by Corona? Closed businesses, people not working = less anticipated State tax revenue. Budgets were set before Corona hit relying on businesses being open and people working and paying taxes. --------------- Costs associated with the coronavirus pandemic are mounting. What could be the focus of the next federal bailout? States with deficits that are growing as a result of lost tax revenue and higher unemployment, education and health costs. The states facing the largest deficits will be blue states, including California and New York. Given that the federal government is already providing states with $150 billion in aid to help cover unemployment, education and medical costs, you can expect some states and even localities to ask for more federal aid to cover their deficits. Today California and states like it spend billions upon billions of dollars annually on blue-state social-justice programs. Meanwhile, California is consistently at the bottom of surveys for fostering business startups. If the new normal becomes "all taxpayers must pay for deficits in other states," it will not only encourage reckless spending and poor business practices, it will deepen our red-state blue-state divide. For these reasons and others, the federal government should avoid covering state deficits. https://www.foxnews.com/opinion/tom-...avirus-bailout ------------------------------------ important to note, this opinion piece is not from a current sitting republican but from the former Chairman of the Republican California Party. So we cant take this one guys opinion and say it represents the Republican opinion etc .. ------------------- What the writer leaves out is the fact that these blue states hit hardest - California and NY - pay more to the Feds than they receive. If you think States should not be propped up by the Feds .. you have to apply that logic to all States in all times. CA - pays the Federal Govt 13.7 BILLION more tax dollars than it receives. NY - pays 24.1 BILLION more to the feds than it receives https://www.businessinsider.com/fede...-1#new-york-32 -------------------------------- HOUSE SPEAKER PAUL RYAN: — Ryan said the rest of the country is “propping up profligate, big-government states.” — “States that got their act together are paying for states that didn’t,” the Wisconsin Republican said. TREASURY SECRETARY STEVEN MNUCHIN: — “We are getting the federal government out of the business of subsidizing states. That is going to impact high-tax states.” THE FACTS: Connecticut residents paid an average of $15,643 per person in federal taxes in 2015, according to a report by the Rockefeller Institute of Government. Massachusetts paid $13,582 per person, New Jersey paid $13,137 and New York paid $12,820. California residents paid an average of $10,510. At the other end, Mississippi residents paid an average of $5,740 per person, while West Virginia paid $6,349, Kentucky paid $6,626 and South Carolina paid $6,665. Low-tax red states also fare better when you take into account federal spending. Mississippi received $2.13 for every tax dollar the state sent to Washington in 2015, according to the Rockefeller study. West Virginia received $2.07, Kentucky got $1.90 and South Carolina got $1.71. Meanwhile, New Jersey received 74 cents in federal spending for tax every dollar the state sent to Washington. New York received 81 cents, Connecticut received 82 cents and Massachusetts received 83 cents. California fared a bit better than other blue states. It received 96 cents for every dollar the state sent to Washington. On average, states received $1.14 in federal spending for every tax dollar they sent to Washington. That’s why the federal government has a budget deficit. https://apnews.com/2f83c72de1bd440d9...low-tax-states ---------------------------------------- This is only one guy. And he has a "former" in front of his name. I really hope we dont hear any current Republicans from say Kentucky, WVA, Mississippi or S Carolina say the federal governmetn shouldnt prop up individual States. __________________ 19,937 car accidents a day in the US. Buy a dash camera for everyone you love. Insurance companies are increasingly denying claims.