Use access key #2 to skip to page content.

alstry (36.08)

The Zombulator Shutting Down Cities!!!!!!

Recs

11

November 16, 2009 – Comments (7)

Cities shutting down despite LARGE tax increases.....that is what happens when you bail out banks and screw citizens in an overleveraged credit dependent ponzi economy.  Sorta like bailing out Bernie and hosing his clients. You knew this was coming in 9.09....now you feel.

City Council adopted a 2010 budget Monday night that includes tax increases and layoffs.

However, wage and other concessions from the city’s unions still are needed to balance the budget.
Here are some highlights:

Property tax: Increase by 0.5 mill, to 11.945 mills. Taxes on a property assessed at $100,000 would rise $50.

Earned-income tax: Increase by 0.5 percent to 1.7 percent. Taxes for someone earning $50,000 would rise $250. (The Reading School District raised its own earned-income tax rate to 1.5 percent in 2007, and the city sends residents one bill for both. That bill now will rise to a combined 3.2 percent.)

Layoffs: 11 police officers, two firefighters, 14 rank-and-file employees. Dozens of other vacant positions also were cut. Reading Public Library: The annual allotment of $483,000 was cut to $200,000.

BARTA: The annual allotment of $120,000 was eliminated.

Berks Community Television: The annual allotment of $180,000 was cut to $100,000.

For the complete story, see Tuesday’s Reading Eagle and readingeagle.com.

I am seriously considering raising my unemployment estimate from 50% to 66% with an eye towards 75%.


7 Comments – Post Your Own

#1) On November 17, 2009 at 12:37 AM, alstry (36.08) wrote:

Mortgage delinquencies hit another record in 3Q

Pretty soon, bankers will pay you to live in their homes so they don't rot.

Report this comment
#2) On November 17, 2009 at 12:52 AM, alstry (36.08) wrote:

JOB CUTS MULTIPLY INTO MORE INCOME LOSS WITH ZOMBULATION

Forsyth County, NC -- A major round of layoffs is headed for the Dell plant in Forsyth County. Wednesday, about 600 employees will lose their jobs. The layoffs are part of the process of the entire plant shutting down, which Dell says will happen by the end of the year. Not only do the layoffs mean more people in local unemployment lines, but area businesses are concerned about what the layoffs mean for them.

Jesse Thompson at Little Richard's Bar-B-Que has served Dell employees lunch since the plant opened in 2005. He says he expects to take a hit once they're gone.

"There were some businesses that moved to this area because of Dell and Dell eats here, there are other businesses that eat here, so I was worried that the other businesses may not come in or they'd have to shut down and follow Dell wherever they go," said Thompson.

Report this comment
#3) On November 17, 2009 at 6:05 AM, tomatoflu (< 20) wrote:

I only they had the strength of intellect to reason without being interfered with by corruption..........pretty soon, they will all be out of a job.

Seems as though they have a Carbon death wish.

More burnt offerings.

Sheeesh..........arghhhh

Report this comment
#4) On November 17, 2009 at 6:07 AM, tomatoflu (< 20) wrote:

Carboniferous intellect disorder.

Report this comment
#5) On November 17, 2009 at 7:43 AM, jddubya (< 20) wrote:

So, can you post a list of all of these shutdown cities like you post the junk from daily job cuts?

I promise to visit at least one of these so called shut down cities to get a first hand view of what they're going thru.

My travels to Detroit in September totally debunked your description of how bad it is there.  Your news rag sensationalism doesn't really pan out in the real world.  You need to get outside a little more - go talk to your white house contacts.

Report this comment
#6) On November 17, 2009 at 9:00 AM, alstry (36.08) wrote:

Detroit is Detroit....it speaks for itself.

Further, it is a city that receives massive support from the Federal government.  Now the Federal government is running a $2 Trillion dollar deficit and growing.

What happens to America when America can no longer maintain that deficit???  Based on the tone and content of your posts, it is obvious you have little awareness how large $2 trillion dollars really is in the context of our economy.

Report this comment
#7) On November 17, 2009 at 10:06 AM, alasker (< 20) wrote:

2 million, 2 billion, 2 trillion- it just seems unreal. I think most of the population those numbers all audibly sound the same. 2 trillion is no different than 2 quadrillion because it is almost an unreal number. I was reading that Goldman Sachs and JP Morgan have 120 trillion in derivative contracts- what does that mean? How do you quantify our country's labor to get income taxes to pay for that amount. I dont think there is enough productivity in the entire world to pay our debts. Take away the millionaires- the average salary for americans is not that high. There is not enough hours in the day for those who still have a job or a couple of jobs for that matter.

I always found entitlements funny- you steal under the threat of force from the current generation to pay the lifestyles of the older one. How do people raise families if so much gets taken away.

Report this comment

Featured Broker Partners


Advertisement