It’s a good one to have.
I’d suggest returning it to the taxpayers with a reduction in sales or property tax rates. Show the rest of the country what a virtuous, and opposed to vicious cycle looks like.
8 thoughts on “Texas’s Budget Problem”
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A limited legislative session every two years. Gotta love it.
I would put the money in a fund and invest it long term in infrastructure or financial support for new industries. Just because there is a large temporary inflow of money neither means the state should grow in a gargantuan fashion, nor does it mean there will not be a shortfall or crunch eventually.
I do not see how blowing more money on consumer goods or land speculation would be particularly helpful in the long term.
The problem is that funds are permanent temptations and will eventually get looted. I think it better to just return the money. Even if one is going by Keynesian logic, times of plenty are when you cut back on spending you don’t need.
They should donate a thousand dollars of it to California and say that it came out of their “black budget”, which is in the black because they didn’t spend like drunken sailors, along with a thank-you note for all the California industries that relocated to Texas to escape fiscal insanity, confiscatory taxes, and insane regulations.
Since Texas receives more in federal spending than it pays in federal taxes — like so many red states — it could send that money back to Washington.
Wrong. Texas is a net tax payer.
The widely-cited study is here for all to read. Texas has been a net payer through the entire study period of 1981 to 2005, which is the latest data available.
Why do you keep making-up shit that can easily be checked? Are you evil, stupid or both?
One wonders if Dave will now stick with his conviction and call his Congressman and ask they give back Texas’ 2 to 5%.
Ha! Good one.