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Thread: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    But you are then paying twice. Once as a taxpayer and the second time you pay by giving up your own values and the things that you pretend you believe in but which your actions show that you don't. And the second time you are exposing yourself as a hypocrite for doing so.
    No. I do not surrender my values by collecting SS. 15c of every dollar I have ever made has been taken from me by force to pay for programs I don't approve of. It is not hypocrisy to take back at retirement what is rightfully mine to begin with. But this is very basic stuff. I don't need to explain to you why 1+1=2 do I?

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    Those pensions are paid on a monthly basis. How does one claim that they will have no money to make their December 2018 payment or their July 2021 payment or their January 2024 payment?
    It is reported that pensioners will be getting a small fraction of what they expected.

    In short, as I understand it, funds for the pensions are not held separate from the city's other assets. When the city goes broke so does the pension fund. Any future pension payments will have to be adjusted to reflect city income, and in a bankruptcy that will be set by the court. In a normal bankruptcy it will be the bond holders who get paid back first.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Peter King View Post
    Governments cannot declare bankruptcy IMHO, governments should always pay their way. If a company goes into business with individuals and/or companies he knows he always runs the risk of not getting paid due to bankruptcy risks, but a company should always be able to count on getting paid by government in any shape or form.

    Governments have to pay their way, always and in all situations and not weasel out by declaring bankruptcy.
    In the case of cities in California, the people are moving away. There are few people and businesses left to tax. It has become impossible for these governments to pay their debts. And orderly process managed by the courts is preferable to the kind of chaos that would ensue if everything were just allowed to grind to a halt.

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by LowDown View Post
    In the case of cities in California, the people are moving away. There are few people and businesses left to tax. It has become impossible for these governments to pay their debts. And orderly process managed by the courts is preferable to the kind of chaos that would ensue if everything were just allowed to grind to a halt.
    Yes, it has become impossible for government to pay its debt and Bruce Bartlett has a different spin on it. He says it is because of starve the beast economics. After reading about what happened in CA I have to say he has some fantastic points.

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Arbo View Post
    Your history of not backing up what you say and being ignorant to factual material is all across the forums, from this topic to gun rights. Any who have paid attention know it. And you do too, no matter how much you try to spin and deny it.
    How dare anyone "infringe" on the constitution! Now Hay is concerned about the constitution? As usual, only when it fits their needs.

    Quote Originally Posted by haymarket View Post
    But yet you are woefully impotent to actually provide a verifiable link or proof of even a single occurrence of the falsehood that you allege.

    And that says it all.

    But do prove me wrong. This time back up the checks you write but are unable to ever cash. Prove me wrong with evidence and chuck your empty self serving pontifications.
    The proof is in everything you post.

    All I can say is that you democrats can't complain when you continuously demand free hand-outs for everything - especially in the recent (2007-present) economy.
    Quote Originally Posted by jet57 View Post
    If certain gun guys are insulted by that? Good, they should be ashamed: the rest of US are sick and tired of having our intelligence insulted[/i].



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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by LowDown View Post
    It is reported that pensioners will be getting a small fraction of what they expected.

    In short, as I understand it, funds for the pensions are not held separate from the city's other assets. When the city goes broke so does the pension fund. Any future pension payments will have to be adjusted to reflect city income, and in a bankruptcy that will be set by the court. In a normal bankruptcy it will be the bond holders who get paid back first.
    That has not yet been determined.

    And is it acceptable and right to you that bondholders would get paid before pensioners?
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by MACS-24 View Post
    How dare anyone "infringe" on the constitution! Now Hay is concerned about the constitution? As usual, only when it fits their needs.



    The proof is in everything you post.

    All I can say is that you democrats can't complain when you continuously demand free hand-outs for everything - especially in the recent (2007-present) economy.
    Your post makes no sense following what you posted from me. it is irrational and without foundation and is only an attack upon me without any evidence to support it.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by MACS-24 View Post
    How dare anyone "infringe" on the constitution! Now Hay is concerned about the constitution? As usual, only when it fits their needs.



    The proof is in everything you post.

    All I can say is that you democrats can't complain when you continuously demand free hand-outs for everything - especially in the recent (2007-present) economy.
    you make such a good point

    NOT!
    Red states were more likely to get a bigger cut of federal spending. Of the 22 states that went to McCain in 2008, 86 percent received more federal spending than they paid in taxes in 2010. In contrast, 55 percent of the states that went to Obama received more federal spending than they paid in taxes. Republican states, on average, received $1.46 in federal spending for every tax dollar paid; Democratic states, on average, received $1.16.
    Most Red States Take More Money From Washington Than They Put In | Mother Jones

    if those republican states are so fiscally responsible, why do they require a larger federal subsidy than the democrat dominated states?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by LowDown View Post
    It is reported that pensioners will be getting a small fraction of what they expected.

    In short, as I understand it, funds for the pensions are not held separate from the city's other assets. When the city goes broke so does the pension fund. Any future pension payments will have to be adjusted to reflect city income, and in a bankruptcy that will be set by the court. In a normal bankruptcy it will be the bond holders who get paid back first.
    what causes you to believe passive investors get in bankruptcy line to receive their money in front of former wage earners?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by justabubba View Post
    you make such a good point

    NOT!

    Most Red States Take More Money From Washington Than They Put In | Mother Jones

    if those republican states are so fiscally responsible, why do they require a larger federal subsidy than the democrat dominated states?
    I don't know, you tell me. I suspect it has more to do with income levels and cost of living being lower in red states, thus lower tax revenue, than any ideological explanation.

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