My prediction. The Patrick Administration budget will be released at noon. It’ll be a yawner.
The long knives are out from the conservative blogs waiting for the Governor’s latent tax and spend to shine through. But, tax and spend is moonbat talk: save the children, universal health….
Reality–Patrick can do none of that, certainly not in his first year. A tax and spend budget would be dead on arrival–Patrick too. Plus, there’s simply no money for it. He’s already set the stage with the pretext that we have a billion dollar deficit, through which the administration made painful decisions–only increased spending 4%. “Look honey, how much I saved by buying ‘on sale'”.
Reality–the size of government continues to grow uncontrained.
Even together, we cannot undo the laws of simple arithmetic. The simple arithmetic is that tax revenues are flat, and pension and medical are up and up big.
If this administration fails to address out of control, post-retiree benefit costs, it’s an impeachable offense.
The Governor’s reliance on new corporate taxes, even the relatively small increase, is a foolish idea. Fortunately, the
tax increases “loop-holes” he’s closing are likely too small to do structural harm–Verizon isn’t going anywhere because it now must pay personal property tax on a few poles. It’ll easily pass that cost on to consumers.
The more important news of the day is this:
As expected, Toyota Motor Corp. disclosed Tuesday that its eighth vehicle assembly plant in North America will be built on a 1,700-acre site at Blue Springs, about 10 miles northwest of Tupelo.
Why on earth would Toyota choose Mississippi with its lower corporate tax rate, cheaper labor and land and a simpler regulatory environment over, say, Massachusetts?