How not to fix the economy
Posted by Liberty on December 23, 2008
“Governors want to levy higher taxes next year on clothes, soft drinks, gasoline, auto licenses and other items that likely will hit low- and middle-income families struggling to make ends meet in a deepening recession the hardest.
Officials say they are required by law to balance budgets and that tax increases are necessary as state governments face sharply declining tax revenues, but fiscal analysts say raising these taxes during an economic downturn will only worsen local economies and prolong the recession.”
“But spending critics said that not enough attention was being paid by the national news media to the plight of taxpayers, whose incomes were being stretched even further by rising sales taxes and fees, and higher property taxes.
‘Most reporters are covering the state budgets and thinking ‘Oh, the poor states,’ and no one is looking at this from the perspective of the taxpayers who are the ones whose wallets are going to be on the line,’ said political strategist Trent Duffy.”
This entry was posted on December 23, 2008 at 9:05 am and is filed under Bureaucratic ineptitude, Liberalism, Redistribution of wealth, Socialist economics, Taxes. Tagged: Government bureaucrats, Redistribution of wealth, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.