In Case You Missed It
In Their World, Spending Only Goes Up
Posted: Tuesday, April 22, 2008
CONTACT: Kevin Roberts
(916) 448-9496
IN THEIR WORLD, SPENDING ONLY GOES UP
Editorial
April 22, 2008
Even Sacramento's free-spenders were alarmed enough earlier this year when the projected budget deficit reached $16 billion to trim the deficit to $8 billion with a flurry of bookkeeping gimmicks, increased borrowing and bill-paying delays.
Now Democrat state Sen. Denise Moreno Ducheny, who chairs the Senate Budget and Fiscal Review Committee, says continuing declines in anticipated tax revenue have reinflated the deficit to about $14 billion. Consequently, Democrat Assembly Speaker Fabian Nuñez insists: "The problem is so severe that we don't have a choice but to raise taxes."
No choice but to raise taxes? When we in the rest of the world find our income substantially short of what we wanted to spend, we have another choice: stop spending.
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In fact, Congress discovered in the 1980s (but shortly afterward apparently forgot), that it's cutting taxes that boosts tax revenue. Increasing taxes hurts commerce, ultimately reducing tax revenue.
California's economic downturn either can be helped or worsened by Sacramento's decision on taxes and spending. If the Legislature wants more tax revenue, tax burdens should be lessened, not increased.... Legislators should emulate what the rest of the world does when it runs out of money to spend: reduce spending.
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Read Entire Editorial At: In Their World, Spending Only Goes Up
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Paid for by the California Republican Party. Not Authorized by any Federal Candidate or Committee.
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