The Economic and Revenue Forecast Council issued its updated state revenue forecast for the quarter this week. With the strong state economy and a real estate market that is very active, the state is expected to receive hundreds of millions of dollars in new revenue over the next two years. Because more people have jobs – at higher wages – less people are seeking state services. Combined, this means the state is looking at a budget surplus of about $2.4 billion over the next few years!Well, that's GOOD. A state or a nation or a company or a household is OBLIGATED to save money in the good times so we can spend it in the bad times. God says so, and every responsible moral code and pre-Goldman economic rule agrees. Even Keynes agrees. Do Repooflicans agree?
I believe the state should give some of this money back to taxpayers. We have legislation to fully fund the $30 car tab initiative passed by voters last November. We should also substantially cut the state portion of the property tax. Homeowners are seeing property valuations go up, which is causing a noticeable spike in property taxes.No. Repooflicans want us to voluntarily reduce our income so we can go back to living on credit and enriching the bankers. This is immoral and crazy.
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