So what's your state doing to close it's budget deficits?

[KeithP]

Originally posted by: ironwing
... There is a reason I think of Republicans as corrupt, greedy, immoral dumbasses.

Yes, there is a reason. It is because they are just like democrats.

-KeithP

 

[Darwin333]

Originally posted by: ironwing
Our fair legislature (AZ) is facing the multi-billion dollar deficit head on by cutting income taxes on corporations and high income individuals and permanently abolishing the state property tax. They plan to make up the revenue losses by asking the voters to approve an increase in the sales tax in November. Meanwhile they plan to spend as if the sales tax hike is a done deal. There is a reason I think of Republicans as corrupt, greedy, immoral dumbasses.

Having high state personal income taxes for the rich is pointless and usually hurts revenue more than it helps. My personal experience has shown that if they are relatively low the evil rich guys will generally pay them. If they are high then its relatively easy to avoid them altogether. A small slice of the pie beats no pie at all.

My state is cutting spending and personal income taxes. I think they should wait a year or two to cut the income taxes but I am not going to complain to loudly. We are also making a decent bit from stealing some of Cali's movie production. I fully support California further raising takes on those evil corporations :thumbsup: .

 

[LunarRay]

Originally posted by: Moonbeam

Originally posted by: LunarRay
Gee... cut spending, cut this cut that... raise taxes... that is all well and good but there is an alternative...

Insist the Central Government there in DC... do its job and invest in the various states to create JOBS.... yes... debt finance (LT) create rapid transit, green this or that, etc... Pour money into the areas that need it... big time.. get folks to work... Last I heard Folks are who pay taxes to fund the operations of necessity.... overseen by our State ummm.. officials...

I was wondering, LR, if we couldn't just deficit spend to buy the whole world, and then when we owned everything just default on the debt. We would have everything and everybody else would be screwed.

Not the whole world, MB, but what does it matter if we incur LT debt to get folks to work for say 10 trillion OR... incur debt for the same amount to fund the operations of our government above the $ flowing in from taxes and like that. You get nothing back essentially from giving away money while you do get tax money from workers and they don't collect from the government... a double good thing.. Besides left there in place of desert is an asset that provides added benefit...
IF we were at Full Employment we'd not have an issue or as much of one.

EDIT: While Government probably must take care of Wall street for the obvious reasons... they MUST take care of Main street... the people out of work... make them demanders... and business will supply the product.. and there ya go...