The 75 most populous cities in the U.S. ranked on tax surplus / burden

[Kailash Kumar]

FINANCIAL STATE OF THE CITIES

JANUARY 2020

This is the fourth annual Financial State of the Cities (FSOC) report, a comprehensive analysis of the fiscal health of the nation’s 75 most populous cities based on fiscal year 2018 comprehensive annual financial reports (CAFRs).

Source and full report:
https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-Cities-2020.pdf

 

[Hamartia Antidote]

https://www.truthinaccounting.org/library/doclib/Financial-State-of-the-Cities-2020.pdf

Based on our latest analysis, the total debt among the 75 most populous cities amounts to $323.2 billion. (We do not include restricted assets, capital assets or debt related to capital assets.) Most of the debt comes from unfunded retiree benefit promises, such as pension and retiree healthcare liabilities. This year, pension debt accounts for $176.2 billion, and other unfunded post-employment benefits (OPEB) totaled $149.8 billion.



In other words the local governments keeping their hundreds of thousands of employees happy by constantly sweetening their retirement benefits to the point of unsustainability.

 

[TruthSeeker]

Government employee unions make deals with Democrats: we elect you, you promise us retirement benefits as high as possible before you go bankrupt. It becomes a Ponzi scheme wherein the older, "first -in" union employees (including the union leaders) make it to retirement glory before the inevitable bankruptcy shafts the youngest, last-in employees.

 

[TexasJohn]

Yay! My little town of Arlington, TX is number 9 in terms of tax surplus!

 

[SQ8]

Yay! My little town of Arlington, TX is number 9 in terms of tax surplus!

What’s interesting is how Plano has a surplus in the entire DFW metro area.

 

[TexasJohn]

What’s interesting is how Plano has a surplus in the entire DFW metro area.

Plano and Arlington. Dallas is right where it deserves to be...LOL

 

[SQ8]

Plano and Arlington. Dallas is right where it deserves to be...LOL

Austin - stay weird
Dallas - Stay pretentious

 

[TexasJohn]

Austin - stay weird
Dallas - Stay pretentious

Dallas - the same old potholes exist on the streets forever and ever
Austin - that's where we ship Californians who want to escape the mess there