Perry: Take $1B from Rainy Day Fund for tax relief

[coyotes_geek]

AUSTIN, Texas —
Gov. Rick Perry says nearly another $1 billion from the Rainy Day Fund should be used for tax relief, in addition to the $3.7 billion he wants to spend from the state's emergency account to pay for water and road projects.

http://www.statesman.com/ap/ap/texas/perry-take-1b-from-rainy-day-fund-for-tax-relief/nWBF8/

Things in Texas must be pretty bad off if we have to tap the RDF to fund our tax cuts.........

[Winehole23]

if you don't hand it around as a tax cut for the well off and extremely well off, you just invite more government spending. subsidizing the upper class is the only socially palatable socialism in the US.

http://www.kxan.com/dpp/news/texas/comptroller-susan-combs-to-set-outline-revenue-picture

[Wild Cobra]

At least Texas has a rainy day fund. You can only let them grow so big before spending part of it on something worth while. Problem comes when you want to give tax breaks because of it, just like this story:


Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59.

So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers, he said, ‘I’m going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’ They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings). The sixth now paid $2 instead of $3 (33%savings). The seventh now pay $5 instead of $7 (28%savings). The eighth now paid $9 instead of $12 (25% savings). The ninth now paid $14 instead of $18 (22% savings). The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

‘I only got a dollar out of the $20,’declared the sixth man. He pointed to the tenth man,’ but he got $10!’

‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a dollar, too. It’s unfair that he got ten times more than I!’

‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’

‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’

[ElNono]

lol bar stool economics chain emails

http://www.snopes.com/business/taxes/howtaxes.asp
http://www.dailykos.com/story/2008/11/01/649084/-Refuting-Bar-Stool-Economics

This is akin to comparing a country economy with a household economy. It's put in simple terms so simpletons like WC can eat it without having to put any thought into it.

[TeyshaBlue]

lol bar stool economics chain emails

http://www.snopes.com/business/taxes/howtaxes.asp
http://www.dailykos.com/story/2008/11/01/649084/-Refuting-Bar-Stool-Economics

This is akin to comparing a country economy with a household economy. It's put in simple terms so simpletons like WC can eat it without having to put any thought into it.

fwd:fwd:fwd:

:lol

[Wild Cobra]

lol bar stool economics chain emails

http://www.snopes.com/business/taxes/howtaxes.asp
http://www.dailykos.com/story/2008/11/01/649084/-Refuting-Bar-Stool-Economics

This is akin to comparing a country economy with a household economy. It's put in simple terms so simpletons like WC can eat it without having to put any thought into it.
I find it a fun story, and very reflective of how poor people think tax breaks should be divided. I'm amazed anyone can disagree with the reflective parody. It is just a parody, and a very old story as well.

Except that...

Your liberal masters tell you to...

[ElNono]

I find it a fun story, and very reflective of how poor people think tax breaks should be divided.

I find it to be a very poor story that fails to reflect how taxation works at all.

I can see how it would entice the intellectually poor though.

[Wild Cobra]

I find it to be a very poor story that fails to reflect how taxation works at all.

I can see how it would entice the intellectually poor though.
Are you having language comprehension difficulties?

I find it a fun story, and very reflective of how poor people think tax breaks should be divided.
Notice that I did not say what you are arguing against.

[ElNono]

Are you having language comprehension difficulties? Notice that I did not say what you are arguing against.

I have no difficulties at all. You're the one that argued such stories are a problem when wanting to give tax breaks:


Problem comes when you want to give tax breaks because of it, just like this story:

I don't see such problem because the story doesn't address real world taxation at all.

[Wild Cobra]

I never said or implied the story addresses real taxation. You entirely miss my point. When tax breaks are given, someone is butthurt, and it's usually the poor.

[ElNono]

I never said or implied the story addresses real taxation. You entirely miss my point. When tax breaks are given, someone is butthurt, and it's usually the poor.

Tax breaks are part of real world taxation, are they not?

[boutons_deux]

Tax breaks are part of real world taxation, are they not?

they're called tax expenditures, since the govt is preemptively "spending" tax revenue on some very probably wealthy, profitable entity.

[ElNono]

they're called tax expenditures, since the govt is preemptively "spending" tax revenue on some very probably wealthy, profitable entity.

Right, which go directly in the realm of taxes.

[Wild Cobra]

Tax breaks are part of real world taxation, are they not?
Yes. What do you think I disagree with? Now in this case, Texas is floating the idea of a tax break. It cold be in many forms. No matter what form the break is in, you watch. The bottom income earners will say one of several things, and find something to cry about.

[ElNono]

Yes.

Thanks

[The Reckoning]

fuck perry. i wont ever work in texas until that asshat is out.