Government

Over the years the states have sought more and new sources of revenue, where has all the money gone?

Do you remember when your state had no income tax, no sales tax, no legalized gambling and no state lottery to pay the bills?  How did they do it?

How do expenses continue to climb to consume each penny of new revenue and still there is not enough money to fund obligations or quell borrowing?

How does that happen?

Come a little closer, I won't bite

You let it happen by electing people who promise more and more and by not asking questions about how they are going to pay for it all. 

I recall a governor who was heralded for lowering property taxes and providing rebates.  Whoopee!   Not really, she did it by skipping pension contributions and using a fund set aside for retiree medical expenses for state workers…oops.  I know a state where health insurance premiums for state workers are intentionally set below the projected costs of the plan so that high (justified) increases can be avoided…temporarily.

P.S.  Don’t be so smug if your state has no income tax, it no doubt has high fees on a number of things to make up the difference.

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Categories: Government

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