MaverickM11
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Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 4:56 am

http://online.wsj.com/article/0,,SB108742698174139445,00.html?mod=opinion%5Fmain%5Freview%5Fand%5Foutlooks

"The just-released quarterly survey of the Rockefeller Institute of Government shows that state coffers rose in the first quarter of 2004 by 8.1% year over year, the fastest rate since the second quarter of 2000 and faster than the median growth rate of 6.6% from 1997 to 2000. This marks the fifth straight quarter of overall state revenue growth and builds on the 7.3% increase of the 2003 fourth quarter. "

"Meanwhile, across the country, Governor Arnold Schwarzenegger's decision to hold the line against tax hikes is being rewarded, as California's revenue increased by 11.1%, including double-digit gains in personal, corporate and sales taxes. Estimated 2004 tax payments on non-wage income in the Golden State also rose by 18.4% in April, suggesting even stronger revenues to come"

New York, Virginia, Ohio, and Florida tax revenues are all up double digits as well.


E pur si muove -Galileo
 
aloges
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:04 am

Just for information, how much has revenue decreased from 2000 to 2002 due to Bush's tax cuts?
Don't cry because it's over, smile because it happened.
 
MaverickM11
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:08 am

And again: Wholesale Prices Jump; Jobless Claims Dip

http://www.nytimes.com/aponline/business/AP-Economy.html
E pur si muove -Galileo
 
JeffM
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:10 am

Achim, this may be a shocker to you... but...

Any time you pay less tax....it's a good thing.
 
jwenting
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:14 am

Weird isn't it Aloges, that despite lower tax rates the actual tax revenue goes up.

Your socialist little mind can't comprehend that the economy benefits from a lower tax rate, increasing taxable revenue of companies and taxable income of people which might yield total higher taxes as a result.

But then, you WANT the economy to be bad because unhappy people are more likely to follow your ideals of socialist world revolution and the divine rule of the Party secretariat.
I wish I were flying
 
MaverickM11
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:14 am

"Any time you pay less tax....it's a good thing."

AMEN!!

Now if we could convince every goverment spnosored program/boondoggle that a decrease in spending GROWTH is not a CUT in spending....and that, heaven forbid, a cut in spending is a good thing for the vast majority of Americans!
E pur si muove -Galileo
 
N6376M
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:15 am

Algoes,

State tax revenues have nothing to do with federal tax cuts.

In fact, one of the criticisms of the Bush tax cuts is that they created all sorts of weird answers for state taxpayers. For example, the bonus depreciation provisions including in the Bush federal tax cuts did not necessarily apply to state income taxes. Therefore, your state and federal depreciation deductions didn't match.

Instead of just blindly criticizing, educate yourself, then ask an intelligent question.
 
L-188
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RE: Tax Revenue Boom: US Economy Just Fine Thank!

Fri Jun 18, 2004 5:16 am

I would like to take a moment and thank the Austrian and Chicago schools of economic thought, who pointed out this little phenomenon out.
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
aloges
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:16 am

Would anyone be able to answer my question, instead of bringing on the 2,981,582th version of "Believe me, this is happening because/despite Bush is President"?  Yawn
Don't cry because it's over, smile because it happened.
 
N6376M
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:22 am

Aloges,

Your question makes no sense. That's like asking, can somebody tell me how much the Atlantic Salmon catch has declined because of the Bush tax cuts? The two - state tax receipts and federal tax changes - are completely unrelated.

Instead of being a smart ass - read what gets posted.
 
MD-90
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:26 am

Now if we could convince every goverment spnosored program/boondoggle that a decrease in spending GROWTH is not a CUT in spending....and that, heaven forbid, a cut in spending is a good thing for the vast majority of Americans!

Can I get an AMEN!
 
aloges
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:37 am

Any question makes sense for the one that asks it.

Instead of calling me a socialist, a smart ass or what not, you could just answer my question.

I know that state taxes are not much of the FedGov's business, but why am I being attacked for simply asking that question? Is it because you folks want to have a "kiss Bush's rear end" fest or what? If you want that, then you'll have to live with spoilers.
Don't cry because it's over, smile because it happened.
 
L-188
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:38 am

Honestly I don't know.

But again, any numbers need to be taken with the realization that part of that would have decreased due to the 2000 recession anyway.
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
aloges
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:41 am

Add to that the aftermath of 9/11, which is when things really went down the drain.
Don't cry because it's over, smile because it happened.
 
L-188
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:44 am

And the Accounting scandals, which involved tax years prior to him taking office.

Frankly I don't think many people realize how bad that recession should have been. Truth be told it was fairly mild, and I do have to give credit with those tax cuts keeping money in the economy.
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
MD-90
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 5:59 am

Too bad that the federal government doesn't have to have a balanced budget every year like most states do, Alabama included.

I'll bet California doesn't have to have a balanced budget either, and look where it got them.


Bush had better cut federal spending his second term.
 
N6376M
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 6:10 am

Most states are constitutionally (state constitution not federal constitution) required to balance their budgets. However, the US Supreme Court ruled operative provisions of the Graham Rudman Hollings Balance Budget Law unconstitutional because it imposed automatic spending cuts. The Court determined that the automatic cuts were an intrusion on the separation of powers.

Furthermore, most state governors have the line-item veto, which drastically reduces the ability of special interest within the legislative branch to add pork to otherwise necessary pieces of legislation. If such pork does get added then the governor can cut it out without vetoing the entire bill.

I strongly believe that a line item veto amendment should become part of our constitution. However, the Congress would never approve this because it would substantially weaken the power of the power brokers within the Congress. Therefore the only way such an amendment could come into law would be if 2/3 of the states got together and called for a Constitutional convention to propose such an amendment. After the convention, 3/4 of the states would have to then ratify the amendments. Not too likely.

States like Alaska would oppose such a change because their Senator throughs a lot of pork their way - pork that would be threatened if the President could veto specific items in a spending bill.
 
L-188
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 6:12 am

As much as I appreciate that pork, I do wish we would ween ourselves off of it, so that the independence movement would be that much stronger.

OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
N6376M
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 6:19 am

And that my friends is why we don't balance our federal budget for any length of time. We're no different than the crack addicts - people need the pork.

L-188 hit the nail on the head.

BTW - what's this "independence movement"? Does Alaska want out of the union?
 
L-188
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Fri Jun 18, 2004 6:21 am

Some of us do.

http://www.akip/org
OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
 
Phaeton
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RE: Tax Revenue Boom: US Economy Just Fine Thankyou!

Sat Jun 19, 2004 6:37 am

can somebody tell me how much the Atlantic Salmon catch has declined because of the Bush tax cuts?

I would say that it has stayed at a constant rate.  Big thumbs up
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