The Musings of

Something full of magic, religion, bullsh*t.

Friday, January 28, 2005

Trickle-down taxation

I wish I had more time to look into this, but I have noticed a disturbing trend as of late. It appears that state and local governments are using the Bush tax cuts as cover to raise their own taxes, even in states controlled by Republicans and they are currently expecting surpluses. I'm initially conflicted if this true. On the one hand, I would much rather see more revenue moving from the federal government to state governments -- although this would be a pyrrhic victory since there has not be a corresponding drop in federal spending. On the other hand, by raising their taxes, local governments are nullifying the potential investment increases that Bush hoped to realize by cutting taxes at the federal level.
Centinel 12:10 PM #


Post a Comment