Rush’s Morning Update: State of States
February 25, 2010
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Folks, the financial state of most of these United States is dismal. According to a new report from the Nelson Rockefeller Institute of Government, states’ tax revenues last year were down for a fifthstraight quarter;it’s the longest period of declines since the Great Depression. Prospects for a quick turnaround are also dismal. Why? Well, because in too many of these states, liberals are running the show.
According to the New York Times, “The revenue decline comes despite the tax increases imposed by many states since the recession began.” Well, shazaam! Actually, the revenue decline is a direct result of tax increases, and the out-of-control spending imposed by thesestates, which was made even worse by this slush fundspending from the Porkulus bill.The Democrats’ slush fund gave states a one-time cash infusion that has come to an end — for now –until the next round of slush fund money comes through.
The Rockefeller report warns that state tax revenues will continue to be “insufficient to support current spending commitments,” and that more spending cuts and tax increases are likely. But they say sales tax collections should rise when retail sales pick up. (That’sif theypick up.)
Look: This is not that hard. Government spends too much money on too many things. The government doesn’t have the money they’re spending. People are already taxed beyond the breaking point.
If you want togrow state economies,there are three steps to make it happen: You cut spending, you lower tax rates, and youfire liberals. It’s that simple.
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