FEOS wrote:
cpt.fass1 wrote:
Seriously so many people are out of work, which is going to put more people out of work and so on.. When nobody out there is employed how with the government agency's get paid? Will we see an increase of all of our taxes to keep the politicians afloat?
Do some quick math.
8.1% of the employable workforce is out of work.
That means that 91.9% of the employable work force is NOT out of work.
We've got a LONG way to go before it becomes a tax revenue problem.
The bigger problem for tax revenues is the drop in property taxes due to foreclosures and devaluation. That hits local government...hard.
Those number are cooked number 1. That's not the people out of work, that's the people on Unemployement so I'd push that up to probably at least 12 or more. Then on top of that you have people who are commision based and getting salary cuts, I'm thinking more or less there's probably a loss of taxable income of around 25% right now.. Just speculation..
Fix for the mortgage crisis.. Allow sales at a higher interest rate at a homes true value with no penelty. Reasses all the property taxes in ever county. Allow good borrowers to get better interest rates then people with loan mods, as a perk for someone to live in a property and pay on time for a long period of time, also allow good borrowers to borrow over the home value.