I Will Continue to Continue, to Pretend.... Message Board

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Politics : I Will Continue to Continue, to Pretend....

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To: Sully- who wrote (11064)	11/21/2005 11:18:14 PM
From: Sully-	of 35834

Hooverville -- Jayson PoliPundit.com Or not: <<< Three years of strong revenue growth have left many states with large surpluses. New Mexico is looking at a $1 billion surplus. Florida expects more than $3 billion. Even financially troubled California took in $3.4 billion more than it spent in the budget year that ended June 30 – the state’s first surplus since 2000. California’s deficit was erased by a 13.2% revenue increase. ‘Every month we’re surprised by the good news and say it has to slow down. But it hasn’t,’ says Arkansas Governor Mike Huckabee, chairman of the National Governor’s Association. His state had record revenue in October and expects a $200 million surplus this year. * * * Most decisions on what to do with the surpluses will be made starting in January when governors present budgets and legislatures meet again. Nearly every state is considering tax cuts. What’s not in favor: big reductions in [state] income tax rates. Instead, smaller cuts aimed at property taxes, business taxes and sales taxes on food are under consideration …. >>> Wait a minute. Waaait a minute. Aren’t we supposed to be mired in some kind of depression? Didn’t Krugmanoia write a book only two years ago entitled “The Great Unraveling?” Wasn’t Colorado Gov. Bill Owens stumping for a de facto tax hike only weeks ago on the grounds that his state allegedly was heading towards some type of fiscal abyss? I’m shocked! to learn most states are sooooo flush with money from the four-year economic expansion and two-year job market boom they’re actually having to figure out ways to give back some of those dollars to Joe and Jane Taxpayer. polipundit.com usatoday.com

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