Business and Economy , Politics
What would you tax to fix your state’s budget crisis?
By John Hockenberry, Adaora Udoji, Adnaan Wasey
May 12, 2008, 09:53 AM
At least 28 states and the District of Columbia are expected to face budget shortfalls next year. What would you tax to fix your state’s budget crisis? Gas guzzlers? Beer? MP3s? Porn?
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Chart: State deficits, 2008-2009
#22 Posted by David Downing, May 13, 07:30AM
RE: Your solicitation of comments about endangered species
Education as we know it is endangered in this country. High stakes tests based on state standards mean that millions of students are learning only material that will be on the test. It doesn't seem to be improving learning much; student test scores have not improved, and students from foreign countries outperform American students. Private schools are scrambling for money. Teachers and students perform for public relations purposes to draw attention and impress donors to give money. Whether or not this PR stunts is good education is a secondary thought at best.
#23 Posted by David, June 20, 07:27AM
I also agree with taxing sprawl. Also an additional tax on SUV's and increase the gas guzzler tax, and a pollution tax to big, old deisel trucks that blow plumes of black smoke out their tail pipes. To reduce spral, however, maybe a tax on every tree you cut down when developing virgin land, combined with tax breaks for reusing previously developed or abandoned property.
More luxury taxes on items such as plasma TV's, jewelry, and eliminate increased tax credits that make it fiscally attractive to have more children. The number one threat to the environment is human population growth, and we encourage it by giving tax breaks (or increased welfare benefits) to people with more children.
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#21 Posted by Jeff Burton, May 12, 07:36PM
Why, when the economy softens, do we always talk about what the states can do to "raise revenue" (i.e. raise taxes)? How about doing what individuals do when in economic hard times--curtail spending. State tax revenues rose from 535B in 2002 to 750 B in 2007--that is a compound annual growth rate of 7.0%(source: US Census Bureau). I wish my income had compounded at an annual rate of 7% over the past five years. State and Federal Government needs to stop spending money rather than looking around for ways to layer in ever more taxes---taxes that never seem to go away, even after the economy has returned to a growth phase.