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News & ArtsWednesday, March 16, 2011
Olympia The State Budget Shortfall Is About to Get Worse
Posted by Eli Sanders on Wed, Mar 16, 2011 at 6:01 AM
That's what everyone in Olympia's hearing, anyway.
Right now, Washington's shortfall stands at around $4.8 billion. Tomorrow, however, the state will put out an updated revenue forecast. When that happens, the state's shortfall could stand at closer to $7 billion.
Get ready.
5
There is no budget crisis. There is a revenue crisis.
Look, the righties keep saying that that government should be run like a business. If you run a business, and you're receipts don't cover the costs of your materials, you have to raise your prices. It's called 'capitalism'. $100.00 dollars in materials + $10.00 in labor + $15.00 in miscellaneous overhead + your margin = the price you need to charge for that product. Same thing with government, minus the margin part.
Pretty simple concept.
Look, the righties keep saying that that government should be run like a business. If you run a business, and you're receipts don't cover the costs of your materials, you have to raise your prices. It's called 'capitalism'. $100.00 dollars in materials + $10.00 in labor + $15.00 in miscellaneous overhead + your margin = the price you need to charge for that product. Same thing with government, minus the margin part.
Pretty simple concept.
6
@ 5,
But then Paul Allen's taxes might go up 2%--and he wouldn't be able to buy his ninth vacation home--which would be worse than a hundred simultaneous holocausts. The End.
But then Paul Allen's taxes might go up 2%--and he wouldn't be able to buy his ninth vacation home--which would be worse than a hundred simultaneous holocausts. The End.
10
Revenue enhancement or there will be cuts that affect most Washingtonians, not just the poor, the ill, the disabled, the unemployed and state employees.
11
give people the state they asked for. a state w/ no services & class sizes of 60. if people don't like it, they can vote differently in the future..
12
@11:
I for one sure as hell didn't ask for that kind of state, and I sure as hell didn't vote for it either, so where does that leave people like me?
Fucked by the short-sighted, greedy, "I got mine" idiots who DID, that's where.
Thanks to Tim Eyman and his "free lunch" ilk, that's what we seem to be stuck with, unless the Dems in the Legislature can find the spine and make the difficult decision to declare a fiscal emergency, and throw out the supermajority rule for raising taxes. Then raise the taxes of everyone making over $250,000 a year by some fractional percentage, even if it requires some sort of a sunset clause to push it through.
I for one sure as hell didn't ask for that kind of state, and I sure as hell didn't vote for it either, so where does that leave people like me?
Fucked by the short-sighted, greedy, "I got mine" idiots who DID, that's where.
Thanks to Tim Eyman and his "free lunch" ilk, that's what we seem to be stuck with, unless the Dems in the Legislature can find the spine and make the difficult decision to declare a fiscal emergency, and throw out the supermajority rule for raising taxes. Then raise the taxes of everyone making over $250,000 a year by some fractional percentage, even if it requires some sort of a sunset clause to push it through.
13
@9 if you tell the rich to "pony up" they will simply move their money, lives and job creating businesses elsewhere, which i suppose is okay with you but dude the rich pay more taxes than you; mano-a-mano a rich guy pays way more taxes than you. isn't that enough? (disclaimer: i only make 90k/yr and am not rich)
14
@13
I thought the theory of ""pony up" they will simply move their money, lives and job creating businesses elsewhere" was disproved?
But I think #9 was referring to the millionaires who somehow find every loophole so they don't pay a penny. I've known two in my life who payed less taxes than me and I make 34,000.
I thought the theory of ""pony up" they will simply move their money, lives and job creating businesses elsewhere" was disproved?
But I think #9 was referring to the millionaires who somehow find every loophole so they don't pay a penny. I've known two in my life who payed less taxes than me and I make 34,000.
15
@13 Bullshit. The rich may pay more in taxes when talking about pure dollar amounts, but we have the most regressive tax structure in the entire nation. A flat income tax across the board with no exceptions, credits, or deductions would be more fair than what we have now, where the poor are paying a much larger portion of their income (~18%) in taxes than the rich (~3%). But introducing a flat income tax would result in taxes on the rich going up and taxes on the poor and middle class going down, and you can bet your ass that the rich would fight it tooth and nail.
16
@12
you are correct it leaves you & me fucked. i also support higher taxes to support basic services (and i support higher taxes to expand services). the point is, it leaves EVERYONE fucked. but this is not a new situation. time to let it play out, imo. don't try to save shit. fuck the whole state on principal because it is what they asked for. they way we've been doing everything we can to soften the blows have just encouraged people to ask for more cuts. well, give them what they asked for.
you are correct it leaves you & me fucked. i also support higher taxes to support basic services (and i support higher taxes to expand services). the point is, it leaves EVERYONE fucked. but this is not a new situation. time to let it play out, imo. don't try to save shit. fuck the whole state on principal because it is what they asked for. they way we've been doing everything we can to soften the blows have just encouraged people to ask for more cuts. well, give them what they asked for.
17
@12
in addition if it is legally possible king county & esp. the city of seattle should look to institute some kind of income tax on higher incomes themselves. if the rest of the state doesn't believe in the value of investing in infrastructure and generally in the future, that doesn't mean we have to go along. let it play out as an experiment. we'll see who fares better in the long run.
in addition if it is legally possible king county & esp. the city of seattle should look to institute some kind of income tax on higher incomes themselves. if the rest of the state doesn't believe in the value of investing in infrastructure and generally in the future, that doesn't mean we have to go along. let it play out as an experiment. we'll see who fares better in the long run.
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