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Politics : Mainstream Politics and Economics
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To: research1234 who wrote (38362)2/3/2013 11:00:15 AM
From: Paul Smith3 Recommendations  Read Replies (1) of 85487
 
Governments are of course quite different - since they have full taxing abilities


But we have seen municipal governments declare bankruptcy just like companies - Harrisburg PA for example.
It also seems that assuming that taxing authority makes public pensions funded, is flawed logic. If I thought that taxing authority was the answer, I could increase the size of municipal pensions by 1000X and it wouldn't matter because the taxing authority would always fund them.
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