Saturday, August 26, 2006

$57 Billion State Budget Surplus

For first time since Sept. 11, 2001, the vast majority of states reported saving an average of 10 percent of their budgets, one of the highest percentages of unspent money in decades.

Arizona ended up with an extraordinary $1.5 billion more in revenue than expected, money that was generated largely from the real estate boom. The state used about a third of the money to reduce taxes, some to promote the state and some for highway construction, and it still had a solid chunk for the rainy-day fund. "It's given us the opportunity spend money on things that we would normally let slide, such as ongoing repairs" for state property, said Richard Stavneak, director of the Joint Legislative Budget Committee

You heard it here first. Tax revenues would soar. We are a profit driven taxing society versus the consumption tax driven rest of the world. Our dollar will soar. The soaring dollar will drive rates even lower.

click on the headline to read the rest of the article

Comments: Post a Comment

Subscribe to Post Comments [Atom]

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]