President Barack Obama Message Board

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Politics : President Barack Obama

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To: tejek who wrote (113880)	5/17/2012 8:28:43 PM
From: Bread Upon The Water	Read Replies (1) of 149317

Modified (regulated) Capitalism for sure. Not European style socialism--for me that's too stifling on the individual and gets the state too deep into our personal lives. States can't use federal money to balance their state budgets. Federal money is earmarked for specific programs (highways, Medicaid, Agricultural use/subsidies) in which states must participate to a degree in order to get the funds. But this is not going into a states General Fund for budget balancing purposes. Individual and Corporate taxes flow to Washington which redistribute them according to political needs and programs, but States as political entities don't contribute to the Federal budget. It's a misperception to suggest such. What the author's of those studies mean is those States economies yield more tax revenue from individuals and corporations. And even though Calif's economy yields more gross tax revenue, it doesn't mean it is living within its state political budget. One is not the other (tax revenue to Washington vs State Tax revenue to support state budgets.)

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