Home > Top of the Morning > Top of the morning

Top of the morning

Post on May 28, 2009 by 2 Comments »

The latest BTC Brief from the N.C. Budget and Tax Center makes the case for a balanced package of budget cuts and revenue increases to address the state’s $4.6 billion budget shortfall.  It also points out that 16 states have already raised taxes to balance their budgets and 17 more are considering tax increases.

Several states that have raised taxes have Republican governors, including Florida, where Governor Charlie Crist signed a budget Wednesday that includes $2.2 billion in new taxes and fees.

Crist had pledged not to raise taxes but finally came to his senses and realized that as the BTC Brief explains, it is far better for the state’s economy to raise new revenue than to make deep, damaging cuts to state services.

Wonder if our lawmakers will ever understand that?

Possibly related posts:

  1. New BTC Brief: Taxes can (and often do) create jobs
  2. In the next two months the federal “Super Committee” could wreck NC’s Medicaid program and cost our state millions of dollars.
  3. Rep. Miller: There’s plenty to be aggrieved about in the American economy (audio)

This entry was posted in Top of the Morning. Bookmark the permalink.

Comments (Closed):2

  1. James
    May 28, 2009 at 8:02 am

    Hi Chris.

    Just a quick note to thank you for your daily “top of the morning” posts. Always a good way to start my day.

    Thanks for sticking with it.

    J

    PS The cross-promoting of posts between NCPW and PP that some of your bloggers are doing is great. It helps me when I’m in a hurry … keeps me from missing things. Good job!

  2. Mike
    May 28, 2009 at 11:36 am

    From today’s Miami Herald

    “Democrats crowed that next year’s budget will be propped up with $5.3 billion in federal stimulus money made available by a Democratic Congress and president. Without it, the state’s $6 billion budget hole would have been far harder to fill. The current year budget is $69.5 billion, including $4 billion in stimulus money.

    Crist and Republican legislators acknowledged that the federal money was a must”

    The opportunity costs of the increasingly expensive US ‘Bases of Empire’ is growing. Just think of the amount of stimulus $$$ the feds could pump into NC if we werent having to pay for the occupations of Iraq and Afghanistan!