Saturday, April 25, 2009

Doyle's Pot Gets Smaller

State tax revenues continue to decrease--and it's just the beginning.

March '09 individual income tax collections are off TWELVE percent+ from last March.

Sales and Use tax is off almost FIVE percent from last year.

Corporate income tax off TWENTY-SEVEN percent from last year.

Real estate transfer fees have declined by FIFTY percent from last year.

We can expect that individual and corporate income tax collections will continue to spiral downward as unemployment, under-employment, and corporate incomes decrease throughout at least the next 6 months or so.

Doyle's response?

Increase State spending by ten percent, of course! What else?

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