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  1. #1 More States Look to Raise Taxes 
    Senior Member tacitus's Avatar
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    By LESLIE EATON

    A free fall in tax revenue is driving more state lawmakers to turn to broad-based tax increases in a bid to close widening budget gaps.
    At least 10 states are considering some kind of major increase in sales or income taxes: Arizona, Connecticut, Delaware, Illinois, Massachusetts, Minnesota, New Jersey, Oregon, Washington and Wisconsin. California and New York lawmakers already have agreed on multibillion-dollar tax increases that went into effect earlier this year.
    Fiscal experts say more states are likely to try to raise tax revenue in coming months, especially once they tally the latest shortfalls from April 15 income-tax filings, often the biggest single source of funds for the 43 states that levy them.


    read the rest of the bad news here


    The idiots that control the legislature here in CO had this wonderful plan to provide in-state tuition for the children of illegals, even though the state in hurting for cash. Luckily there was a pretty good backlash and the socialists backed down so they could keep their jobs. The socialists that run the state in conjunction with the crooks in the judicial system have cooked up new methods of wringing more cash out of the already strapped tax payer by raising taxes that violate our Tax Payer Bill of Rights, i.e. suspending many tax breaks for seniors, property owners, and anything else they can come up with.



    When you look at the states that are not in the hole, you have to wonder what they are doing right and what the rest are doing wrong, who runs the state and how many socialist welfare programs the state does not support.
    "If every poor man is to come here and start requesting money for all his children, the applicants will never be satisfied and the nation's finances will collapse." Emperor Tiberius: Tacitus:Annals




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  2. #2  
    Senior Member Molon Labe's Avatar
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    Can we say "Tax revolt".
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


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  3. #3  
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    Most of those states that are in dire straights are predominately liberal Democratic states. Who wudda thought!

    Louisiana has a budget shortfall this fiscal year but has a surplus from last year that was put into a rainy day fund rather than spent. So, I doubt we will see any major tax increases. With the exception of FL, southern states have fared fairly well during this recession.
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  4. #4 10 ways the new economy will look different 
    10 ways the new economy will look different
    From the rise of the tightwad to the decline of the Sun Belt, American values and industries will be reinvented as the nation comes out of the worst recession since the 1930s.

    By Peter Grier | Staff writer of The Christian Science Monitor
    from the April 10, 2009 edition

    WASHINGTON - On Sept. 18, 1873, weakened by investments in the ill-conceived Northern Pacific Railway, the big Philadelphia banking firm Jay Cooke & Co. went bankrupt. A national economic crisis followed – one with eerie parallels to the grinding recession of today.

    Cooke & Co. was the Bear Stearns of its time, a pillar of national finance. If it could fail, anyone could, and the US stock market collapsed that awful autumn. The price of real estate, railroads, and other hard assets crashed, too. Banks fell like wheat before a reaper. Deprived of credit, Main Street commerce suffered. Unemployment reached 25 percent in big cities. The Panic of 1873 eventually led to 18,000 business bankruptcies. National production shrank for six years. Yet a new and stronger US economy emerged from the wreckage.

    The builders of railroads and canals had gone bust, but they left a transportation infrastructure that in time bound regions together. Commodities – kerosene from Eastern coal, wheat from Western fields, canned fruit from Southern orchards – flowed down this web to the great ports of the US seaboard. Ton by ton, America remade itself into an export powerhouse, the China of the day.

    "These goods helped pull the US out of recession," says Scott Reynolds Nelson, a historian at the College of William and Mary in Williamsburg, Va.

    The point here may be a simple one: This will end. When it does, things will be different. It's possible the US economy will be transformed.

    (snip)

    1 VALUE AS THE NEW VIRTUE

    This is a given: the BC economy (the one we had Before the Crash) had too much of many important things. Too much debt. Too much consumption. Too much speculation in complicated financial instruments by bankers blind to the bubble inflating around them. That's not coming back.

    Housing prices are not going to rebound 20 percent soon. The Dow is not getting back to 14,000 this decade, and maybe not the next. Circuit City, Linens 'n Things, Lehman Brothers – they're all extinct, like Studebaker. "We are never going back to the way we were," says Paco Underhill, chief executive officer of the retail consulting firm Envirosell.

    You don't have to be a futurist to foresee that in the coming new economy just about everyone in the private sector, from consumers to financiers, will be looking to get the most they can for their dollars. You can sum the situation up in two words: "value rules."

    In the old days of two years ago, the thrill was in the extras – the heated steering wheel or the size of the second shower in the master bedroom suite. Now it's in the percentage discount from the previous list price.

    This change in economic attitudes could mark a shift in America's very way of life. Look at the Great Depression: It was a scarring experience that taught a generation to practice such acts of thrift as washing out plastic bags, to the puzzlement of their baby boomer kids. "The era of 'bling' is coming to a close," says Mr. Underhill.

    2 RETURN OF THE TIGHTWAD

    The new value rules have been reflected for months in that most sensitive of indicators of consumer attitudes – marketing. The sign of the times is a sign in the mall advertising "65 Percent Off!"

    Those placards are going to be up for a while. Many retailers are desperate for cash as much as profit, just to pay their suppliers – and buy the next season's line of goods so they can stay in business. Having experienced those deep discounts since last November, consumers may now expect them as a matter of course, says Stephen Hoch, a professor of marketing at the University of Pennsylvania's Wharton School of Business. He thinks a new logic now pervades the US marketplace.

    Remember those advertising campaigns that preached entitlement? They featured sailboats crashing through surf, or a team of climbers standing triumphantly atop K2. The people looked impossibly handsome and successful, as if they'd taken time off from modeling to run Google.

    "You work hard, so you deserve this [auto or watch or necklace or power bar]!" the ads said. "Sure, it costs about the same as the GDP of Senegal. But aren't you worth it?"

    Those pitches have all but disappeared. "That kind of theme doesn't fit the mood of the country right now," says Mr. Hoch.
    Much more at the link.

    [/url=http://www.csmonitor.com/2009/0412/p13s01-usec.html]Christian Science Monitor[/url]
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