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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
DALLAS—A Texas-size hole in the Lone Star state's budget is putting pressure on Gov. Rick Perry, who is running for re-election this year as a model fiscal conservative.
Mr. Perry, a Republican in office for a decade, is touting his tax-cutting prowess and tight-fisted spending record as proof that he remains the right man for the job. He has maintained a wide lead in polls.
But as the state's budget shortfall widens—to as much as $18 billion, or about 20% of the next two-year budget, according to the state legislature's latest analysis released earlier this month—critics are complaining that Mr. Perry's policies have left the state with little room to reduce spending.
Again, what are you talking about other than a subject you have no clue on? However, TX isn't the only state without an income tax. There are several out there and you can live in those places once you graduate from college. FL, TX, TN and AK off the top of my head.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
if personal taxes were passed, that increase in Billions would be spent and then some and the same deficit would exist
increased taxation solves nothing in Govt
Ranger, his boys are running the show in DC. He even volunteered during springbreak to help cook the books of the DNC, so he claimed. They have over spent 5 trillion since taking the purse strings and today are borrowing (printing) 5 Billion ea day to stay a float. So like I said, Will has no clue about what he is talking about.
The best question is CA. What is Jerry going to do since he is now back in charge after all these years. CA woes began under his watch. CA could completely collapse under his watch. How fitting for those libs. Don't look to DC to bail them out.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Texas funds operations via a combination of other taxes, i.e. sales taxes, property taxes, and lottery ticket sales (tax on the terminally stupid), franchise taxes on businesses, and a variety of fees. Texas sales tax revenue has dipped drastically due to the recession. Property tax revenues are down due to lowered real estate valuations as a result of the decreased housing market. Spending continues to increase due to influx of illegal aliens who I suspect suck up a lot more in free bennies (i.e. free public schooling [with free breakfasts and lunches], free medical care [$100,000,000 per year in Harris County alone], free food stamps, increased jail population, etc., etc., etc.,) than they pay for via their sales taxes.
Texas also does two year budgets, i.e. I believe the 2009 and 2010 budgets were drafted in 2008, based on projected revenues at that time, prior to the recession hitting.
I'm not sure why there is blame being laid at the feet of a lack of income tax, other than an utter failure to comprehend the problem. That revenue likely would have dipped as a result of the recession as well.
It seems rather half-witted to suggest adding an income tax on top of the existing tax structure. That would drive away businesses and workers, thereby likely depressing revenues. Dumb. Dumb. Dumb.
Last edited by ipscshooter; 11-17-2010 at 11:38 AM.
__________________
John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Texas - No personal Income Taxes
