Posted on 10/11/2009 5:53:24 AM PDT by TigerLikesRooster
U.S. states suffer "unbelievable" revenue shortages
By Lisa Lambert
Fri Oct 9, 5:59 pm ET
WASHINGTON (Reuters) – The U.S. economy may be creeping toward recovery after the worst slowdown since the Great Depression, but many states see no end in sight to their diving tax revenues.
Tax revenues used to pay teachers and fuel police cars continue to trail even the most pessimistic expectations, despite the cash from the economic stimulus plan pouring into state coffers.
"It's crazy. It's really just unbelievable," said Scott Pattison, executive director of the National Association of State Budget Officers, and called the states' revenue situations "close to unprecedented."
Most states had been pessimistic in forecasting their tax revenues for the 2010 fiscal year, Pattison said. So far, collections have fallen below even those low targets.
Lower tax revenues could lead to higher taxes or another sharp reduction in services if receipts do not show signs of improvement before year-end, as every state but
(Excerpt) Read more at news.yahoo.com ...
White Americans do not have a birth rate of 2.1, its more like 1.5.
interesting!
My bet, the Federal govt is going to bail out states. That would be the ultimate in wealth redistribution...taking money from states that make good decisions and giving it to states that frivolously waste their state resources.
The underlying problem here is the federal government. If we can't stop the feds from spending trillions of dollars of Monopoly money, then to starve the states and cities is self-defeating.
What we should strive for, it seems to me, is to strengthen states at the expense of the central behemoth in Washington. To starve the state is to feed the real beast by default. For far too long already, states have been functionally reduced to mere administrative units of the fed. That's not the American way.
Yep, here’s the link for more details;
Ten Myths About the Bush Tax Cuts
http://www.heritage.org/research/taxes/bg2001.cfm
Setting optimal tax policy requires governing with facts rather than popular mythology, which is why it is important to set the record straight by debunking 10 myths about the Bush tax cuts.
Or, if nothing else, eliminate the Sociology department.
yitbos
My BS meter pegs when they whine about police and education. Thats not where most tax money goes.
True. But there are also massive federal mandates on states which require states and localities to allocate their resources in a certain way. Many of these mandates come with federal money to offset the costs but many do not. Educational requirements come to mind.
If enough governors who can't balance budgets because of plummeting revenues go to DC and demand that they be released from the federal mandates that are eating their budgets alive, then there might be some results.
I'm just skeptical that anything can get changed from the top down. DC politicians are so arrogant and out of touch, they don't care what the folks out here think and want, especially the middle class who makes the economy run. They only seem to care about their fat cat donors and the leeches of society. It's like banging your head against the wall because they just ignore us until about six months before an election, then they just pay us lip service to get re-elected.
The only cure for heroin addiction is to stop taking the heroin. The foul fruit will wither on the vine with no government money.
I see it as a healing crisis, with the possible hope of return to health.
One thing is fer sure, states' revenue intakes are a direct indicator of the overall health of the economy.
It seems that the little repetitious stories paint the real picture, not to mention the tons of people I know that are skilled and cannot find a job.
Libraries are life lines for those of us in the rural areas where we cannot get the internet. They are also meeting places for seniors during the day and teens at night.
I respectfully disagree - we NEED libraries
I hope you had outside help when you taught your children the proper use of pronouns......just saying.
It is FULL right up until the time the lights go off and the doors are locked! Not to mention, there are books there that I want to read! Go figure! I don't have to go to Borders if I want a new book. (yes, there is a little sarcasm there - actually I ended up feeling a little foolish I haven't been using this resource)
**shudder**
I’ve done been ta schoolin’ and college and I ain’t gotta care none about how I talk or write. Just sayin’. I speak and write freely nowadays. don’t matter none no more.
Besides having the obvious books, CD’s, and DVD’s our library has 2 computer areas (adults & kids), a history room with microfilm/fiche reader, meeting rooms, and an attached but privately owned coffee shop. They have all kinds of programs/workshops for kids & adults. It is extremely busy there. I have volunteered with the Friends of the Library and have run the book sales in the past. The Friends have paid for and supplemented many of the programs and materials at the library beyond what their (tax money) budget allows.
If I had to cut tax money, I would rather it be cut from the public schools, which limits ‘education’ to 5-18 year olds. The library allows for anyone of any age to be educated if they so choose, with no one else to set the agenda of what one learns.
well, true dat
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