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Author Topic:   How to reduce the budget deficit faced by your State?
Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted January 16, 2008 10:25 PM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
Because most threads gets polarized these days. I thought of getting our heads together to solve the budget problems that each state faces.

Its beginning of 2008 and time for state budgets. NJ where I reside has the largest budget deficits. I have heard its because the state is spending too much. So a suggestion to ask government to reduce spending is not a realistic solution.


1. Should we increase state tax? Well NJ has a one percent increase a while ago. Raising tax is not realistic?

2. Stop repairing state roads for a while?
But then driving is inconvenient.

3. Make your neighbor state pay taxes because they work in your state.

Well people are already required to pay taxes to NJ if they work in NJ

My Libra tendencies combined with a well Uranus position will never find a practical solution because I always consider the opposing view and deliver a futuristic solution


What do you guys recommend based on your own state's experience?

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dafremen
unregistered
posted January 17, 2008 06:26 PM           Edit/Delete Message   Reply w/Quote
That's a very difficult question. I suppose it all depends upon the state.

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dafremen
unregistered
posted January 18, 2008 12:52 PM           Edit/Delete Message   Reply w/Quote
Ok, some thought was given to your question. There are no easy answers, and you've pointed that out by listing consequences of each type of fund gathering technique.

One thought I had, which isn't really a solution, but which certainly might clarify things a bit, would be to get rid of redundant exchanges like..taxing a company that provides a service to the government..for the profit made off of that service.

Certainly there has to be a way to provide incentives to companies so that they'd be willing to donate those services/products for government use. Let companies compete over providing the best service, or taking the lowest tax break.

Let's try taxing companies that outsource local jobs. Not too much, we're not trying to drive them away. Enough for them to maybe CONSIDER keeping the jobs in state instead of shipping them overseas..without forcing them to stay domestic or leave the state.

Not only would taxes on outsourced jobs raise revenue, but any jobs that DO stay in state instead of being outsourced are also more revenue for the state in the form of sales taxes and income taxes.

Those are the initial ideas that came to mind.

I'll keep thinking about it.

daf

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Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted January 18, 2008 11:12 PM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
With your suggestion there will be many law suits on the state government because of complications on what can be outsourced and what cannot be. Also majority American business headquarters will move out of USA because of those stupid laws. It has already happened. Accenture has setup its HQ in Bahamas. Some smart azz would have weighed all pros and cons before making such a decision. I am not sure what prompted Accenture to take that step. Perhaps its a very international company.

Outsourcing usually saves companies money and results in high profits. This means more tax money for the state.

Perhaps attracting more jobs in state is a better approach. Why were Japan such a small nation able to produce cheap and quality cars and sell in America. Why is America thought of as a super power still does not have a state of the art facility in Michigan producing suvs that can run 40-80 miles a gallon instead of 12 miles a gallon right now. Is innovation on a larger scale a detterent to businesses or there was no smart azz who gave a thought to this issue.

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Mannu
Knowflake

Posts: 45
From: always here and no where
Registered: Apr 2009

posted January 18, 2008 11:26 PM     Click Here to See the Profile for Mannu     Edit/Delete Message   Reply w/Quote
Heh Daf, Please don't break your head. You are right, it is not a easy solution. States have been thinking for many many years about those.

I was trying to be productive after pid accused me of not being constructive
Well, topics of genitalia , dogs, etc seems better discussion topics as nothing is required to be done there but laugh.
So going back to raunchy topics.


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"Librans are born critique.... - Linda Goodman"

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