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re: Louisiana finally has a budget surplus thanks to JBE
Posted on 9/28/17 at 2:15 pm to Bison
Posted on 9/28/17 at 2:15 pm to Bison
Actually, much of it's due to the house dragging the Senate and JBE kicking and screaming into spending millions less than the projected revenue (the projected revenue has been overestimated every year since ever). JBE wanted $350 million more in spending. The house republicans wanted $350 million less in spending so that when the mid year estimates came in, they could avoid any shortfalls and add any surpluses back into the budget. JBE and the legislature eventually reached a compromise spending around $60 million less than projected.
Had JBE gotten his way, we would be seeing a $250 million midyear shortfall rather than a $100 million surplus.
Had JBE gotten his way, we would be seeing a $250 million midyear shortfall rather than a $100 million surplus.
1
Posted on 9/28/17 at 2:43 pm to Bison
to all the downvotes to a budget surplus. Posted on 9/28/17 at 2:45 pm to kingbob
it's all a money grab full over overestimates. it happens with federal budgets as well. shite, it happens within corporation's budgets too.
the leader gets credit for a surplus just like he would get the blame for the opposite.
the leader gets credit for a surplus just like he would get the blame for the opposite.
Posted on 9/28/17 at 2:49 pm to Bison
What good does it do to say you have a budget surplus when the infrastructure of Louisiana is in shambles.
Posted on 9/28/17 at 2:49 pm to The Baker
quote:
We have the highest sales taxes in the country, a
Kind of misleadimg when taken out of context. Need to understand the full tax burden to make any reasonable comparison. I live in Washington, which doesn't have a state income tax, but they make up for it with high property taxes (I poay about $12,000 a year compared with $3,000 I was paying in BR).
Posted on 9/28/17 at 2:56 pm to Bison
Does he have a democrat legislature?
Posted on 9/28/17 at 3:00 pm to islandtiger
quote:
Kind of misleadimg when taken out of context. Need to understand the full tax burden to make any reasonable comparison. I live in Washington, which doesn't have a state income tax, but they make up for it with high property taxes (I poay about $12,000 a year compared with $3,000 I was paying in BR).
absolutely!
sales tax affects everyone, including illegals. But, most importantly to all you right wingers, the folks on government assistance.
So, you get mad about how they get it assistance, and then you get mad about how they're taxed..??
In a welfare state, like LA, we should have the highest sales taxes.
Posted on 9/28/17 at 3:00 pm to islandtiger
quote:
Kind of misleadimg when taken out of context
i mean, it's a talking point
it doesn't take into account how narrow the sales tax base is either
Posted on 9/28/17 at 3:02 pm to jptiger2009
quote:
sales tax affects everyone, including illegals. But, most importantly to all you right wingers, the folks on government assistance.
So, you get mad about how they get it assistance, and then you get mad about how they're taxed..??
In a welfare state, like LA, we should have the highest sales taxes.
i saw a pretty amusing back-and-forth between the LABI leadership & some senators, instigated by a reporter on twitter, over LABI pushing for the sales tax in private to lawmakers then denying they had a position on it in public
Posted on 9/28/17 at 3:04 pm to islandtiger
quote:
Kind of misleadimg when taken out of context.
How is it misleading, we have the highest sales tax in the country.
La. is one of the poorer states in the nation, We have more than our fair share of poor people.
Does it make since to have the highest sales tax rate in the nation when you know that people of little means pay the same as middle class and upper class people do?
JBE raised state revenues from right over 8 million dollars a year to over 9 million dollars a year by raising taxes 1.2+ BILLION dollars. The increase was over 10% overall.
The state sales tax jumped from 4 cents to 5 cents, which was a 25% increase.
Now we learn we have a surplus, and some here are acting as if JBE is some kind of fiscal wizard.
Wooptie doo.
Posted on 9/28/17 at 3:08 pm to 90proofprofessional
quote:
it doesn't take into account how narrow the sales tax base is either
It couldn't be too narrow, it was projected to bring in an additional 907 million dollars. or almost 10% of the revenues the state generates.
LINK
Posted on 9/28/17 at 3:16 pm to doubleb
that doesn't tell us very much at all about how broad the sales tax is
Posted on 9/28/17 at 3:25 pm to 90proofprofessional
quote:
that doesn't tell us very much at all about how broad the sales tax is
No, but since you didn't define narrow, I tried to put the amount raised in context.
A one cent tax increase that's projected to bring in 907 million dollars in a fiscal year is a large amount of money when you consider the revenues the state produces in their budget is right over 9 Billion dollars.
Do you think they should get rid of exempted items like food and drugs and make the sales tax base larger?
Posted on 9/28/17 at 3:35 pm to Bison
holy shite you guys are losers
attacking a guy for a surplus. if it were jindal most of you would already be on your knees unzipping his pants
attacking a guy for a surplus. if it were jindal most of you would already be on your knees unzipping his pants
Posted on 9/28/17 at 3:37 pm to doubleb
quote:
A one cent tax increase that's projected to bring in 907 million dollars in a fiscal year is a large amount of money when you consider the revenues the state produces in their budget is right over 9 Billion dollars.
that's not really useful context for sales tax breadth, which is supposed to be a measure of how much of total sales the tax actually hits
here would be one back-of-the-napkin way to get some context: say the "penny" raised $907 million. total state gdp is about $215 billion. in that case, that 1% sales tax bump apparently hits about 0.4% of total activity. and remember that this was the "clean penny", meaning all the exemptions that apply to the other 4% don't apply to it- this 1% piece is far broader than our regular sales taxes.
we also know from Tax Foundation that several states have broader sales taxes than ours. that was even true before Stelly. yet we only focus on the rate
because it's a talking point
quote:
Do you think they should get rid of exempted items like food and drugs and make the sales tax base larger?
yeah
ETA: another bit of context on the sales tax breadth from the Tax Exemption Budget. In FY16, $2.9B in collections. $2.7B in exemptions. LINK
This post was edited on 9/28/17 at 3:40 pm
Posted on 9/28/17 at 3:44 pm to Bison
quote:
My tax money goes the government too, that's the how's roads get build and repaired.
This is probably not the issue on which you want to make your stand in LA
Posted on 9/28/17 at 3:45 pm to Machine
quote:
attacking a guy for a surplus. if it were jindal most of you would already be on your knees unzipping his pants
Attacking a guy for raising taxes and not trying to cut much of anything is fair game.
And if you believe having a surplus makes a great governor then you'll have to say Jindal was a great governor because he had surpluses too early on.
Look Edwards raised taxes a large amount, and he spent one time money (as Jindal did); please tell me who can't do that.
Nothing has been fixed in fact if the current tax didn't expire there would be another budget shortfall because we spend too much and the economy isn't growing hardly at all.
This post was edited on 9/28/17 at 4:47 pm
Posted on 9/28/17 at 4:22 pm to Catman88
quote:
Only to democrats is 80k rich
FIFY
Fixing the budget by creating new taxes isn't something that should be applauded. What an arse backwards way of looking at it.
Balancing the budget through spending cuts would deserve credit.
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