Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: hmaly who wrote (133862)	3/1/2001 3:15:25 PM
From: combjelly	Read Replies (1) \| Respond to of 1571385

"Well, then they will raise taxes 700 mil. this yr instead of nest" Makes you wonder why they cut taxes one session and then raise them the next. But it would have been better to have a stable tax rate from the beginning, instead of it bouncing around every two years. And there is always the question of what to tax, here is how Texas taxes broke down in 1998: window.state.tx.us Note that the taxes on energy have gone up as prices have risen, the deficit would be much worse without this. The 1999 tax cut broke down as follows: "This year, the governor wanted $2.6 billion in various cuts but accepted about $1.35 billion in property tax relief, plus $506 million in sales and business tax breaks, legislative estimates showed." Also note that the $1.35 billion in property taxes actually amounted to much less, about 1/3 of all school districts wound up raising the taxes (average of $0.07 per $100 valuation, 5-10%) instead of cutting them, they needed the money due to growth in school districts. austin360.com So the $1.8 billion tax cut was really a lie, it was just done so that Smirk could run for President. If the federal tax cut works the same way, a large percentage of people will actually see their taxes go up and then they will have to raise taxes later anyway to make up for the shortfall. Remember that the governor of Texas has a line item veto, no doubt the Republican Congress will tack riders on to other bills that will balloon the deficit even faster. "That is because the people in Texas don't want taxes more than they want services" And Smirk setup a situation where even those few services will be compromised until they can get it straightened out. The fact that some people were warning about this before the tax cut was passed just means they were fuzzy-minded liberals that didn't understand what they were talking about...