Posted on 01/21/2023 6:53:44 PM PST by SeekAndFind
Catherine Rampell of the WaPo is correctly recognizing that states are sabotaging their finances. While she recognizes the coming problem, she blames tax cuts instead of overspending and depending on the rich as the culprit. Democrats rarely think they spend too much and rarely want to allow the people and businesses to keep more of what they earn.
As recession looms (maybe), states sabotage their own finances
Rampell, like most journalists, has falsely blamed Trump's tax rate cuts for cutting federal revenues when revenues actually rose substantially after the rate cuts. Overspending has always been the problem in DC.
Many states sabotaged their finances a long time ago by running up their expenses and taxes. New York, California are especially guilty. New York and California have structured their taxes and spending based on "the rich" getting taxed to death. Those states see massive increases in revenue when the stock market does very well, and they suffer when the stock market goes down. They live by the sword and die by the sword.
They also have massive regulations and block oil and gas drilling, making it very expensive to live in their states.
It should not be a shock that the targeted rich and businesses leave their states to go to more welcoming states like Texas and Florida. They don't have income taxes, their budgets are smaller, and they won't have as big a problem when the next recession comes.
It would be helpful someday if journalists did research instead of just campaigning for Democrats and their big government policies.
(Excerpt) Read more at americanthinker.com ...
State | Population in Millions | Expense budget in Billions | Spending per person |
California | 39.2 | $296.9 | $7,574 |
New York | 19.7 | $220.5 | $11,193 |
Texas | 30.0 | $143.2 | $4,773 |
Florida | 22.2 | $112.1 | $5,050 |
Sources:
https://ebudget.ca.gov/budget/2023-24/#/Home
https://www.flsenate.gov/Committees/billsummaries/2022/html/2852
If high taxes and high spending were great government policies, California and New York would be attracting people and Florida and Texas would be losing people, but the reverse is true.
When it comes to big spending, legislators do not skimp on their own compensation. The highest three states for legislative pay are New York, California, and Illinois. New York lawmakers get $142,000, California $110,459, and Illinois $85,000. They have several things in common. They are run by Democrats, they are high tax states, they pretend they welcome immigrants, and they promote abortion on demand. And one more thing: people are leaving those states to move to more welcoming states.
We are constantly told by high tax and spend states that they have to pay high salaries to attract good people into politics, so why are high tax and spend states run so badly? Democrats never seem to have enough for themselves.
$32,000 Raises: What Brought N.Y. Lawmakers Back to Albany in December
Let me get this straight.
Illegals by the millions requiring entitlements, social welfare programs increasing by the month, mobs stealing from retail stores causing business losses, Democrat pork in bills causes the budgets to have “problems?”
Didn’t see that one coming.🤪
Cloward-Piven at work.
In 44 states and the District of Columbia (DC), the governor must propose a balanced budget to the legislature; in 41 states and DC, the legislature must pass a balanced budget; and in 40 states, the governor must ultimately sign a balanced budget.
The one problem is when the government says the budget is balanced when it clearly is not. I know of no situation where going over budget is penalized with mandatory cutbacks.
not in the Free State of Florida
Typical ComPost dribble.
Just build more Casinos
.
Ping
The problem is INFLATION !
We must preserve bloated government at all costs!
Why can’t I piss away gigadollars without effect?
Buy for the biggest long-term expense is public pensions they pay their employees outrageous sums while they are working and outrageous sums when they retire and then put the tax payers on the hooks for the rest of their lives
Don’t forget public employee pensions and health bennies.
Those are a HUGE chunk of a states budget.
If cities and states were funded by consumption taxes, gubmint would be motivated differently.
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