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Posted: 10/24/2009 11:54:18 PM EST
[Last Edit: 10/24/2009 11:54:50 PM EST by FrankSymptoms]
A friend (from TX) told me that Texas' constitution forbids deficit spending. How is your state doing during the current crunch?

Colorado is well over 300 million in the hole; California is dying on the vine; several other states are troubled.

(And I put this in GD instead of HTF––TX for a reason.)
Link Posted: 10/25/2009 12:02:14 AM EST

Originally Posted By FrankSymptoms:
A friend (from TX) told me that Texas' constitution forbids deficit spending. How is your state doing during the current crunch?

Colorado is well over 300 million in the hole; California is dying on the vine; several other states are troubled.

(And I put this in GD instead of HTF––TX for a reason.)

2-3 billion in the hole

(ehrlic had us at a 2 billion surplus)
Link Posted: 10/25/2009 12:37:05 AM EST
[Last Edit: 10/25/2009 12:37:21 AM EST by Miracle_Pants]
In 2008 we had a 11 billion dollar surplus. However, since the budget is done for 2 years at a time. I'm sure the recent economic problems have affected our surplus but our government keeps an emergency reserve. This "rainy day fund" is currently at 6.7 Billion.
Link Posted: 10/25/2009 1:23:49 AM EST
It will take the apocalypse to put Texas truly in the red. We will be last man standing.

We had a sudden $610 million budget shortfall in 2000, a fluke that was mostly Medicaid overruns and other unforeseen state costs. That wasn't a deficit, however, because the budget still did not exceed tax revenue and in the same year we still had a billion dollar surplus. The legislature has been pretty good about not spending surpluses on a ton of new programs, knowing that when the surplus goes away, the programs will still be there and need funding.

The most important part of the equation is our Legislature only meets once every two years for 140 days. That means they have to budget for two years at a time, and often, if the economy is good, we run a large surplus in the second year. It also means they have very little time to waste money. Sometimes it doesn't work and there are shortfalls, but that's why we can't budget more than our revenue. Keeps the Democrats from spending us into oblivion. IIf things go bad in a budget cycle or a hurricane hits Galveston, we've got money to fix it. The rainy day fund has really changed in the past decade. They used to spend it as they made it, but we've accumulated about a billion dollars a year for the past decade. Hopefully it continues to grow.

We have a large amount of tax revenue from oil and gas production (I think only Alaska can touch us there) and 75% of that goes into the rainy day fund. We also take all unspent budget funds and half of every dollar goes into the rainy day fund.
Link Posted: 10/25/2009 2:11:30 AM EST
Originally Posted By Cypher15:

Originally Posted By FrankSymptoms:
A friend (from TX) told me that Texas' constitution forbids deficit spending. How is your state doing during the current crunch?

Colorado is well over 300 million in the hole; California is dying on the vine; several other states are troubled.

(And I put this in GD instead of HTF––TX for a reason.)

2-3 billion in the hole

(ehrlic had us at a 2 billion surplus)


Yep. Dems suck. There is talk at MD State Universities of a 20-30 percent staff layoff next year.

Link Posted: 10/25/2009 2:31:43 AM EST
I am keeping a eye on this thread, these Texans may be onto something...

Link Posted: 10/25/2009 2:38:48 AM EST
NJ is DOA
Link Posted: 10/25/2009 2:43:59 AM EST
It is worthwhile to add that we have no state income tax.
Link Posted: 10/25/2009 2:47:33 AM EST
[Last Edit: 10/25/2009 2:50:33 AM EST by MK4Mod0]
New Hampshire had a budget surplus into Jeanne Shaheen was Governor.....since then it has been pretty much tax and spend. I don't have numbers but I know it can't be good.

The Towns, Counties and the State are all pretty much controlled by the Dems...all they know is tax and spend. The New Hampshire Supreme Court ruled that, the way NH uses Property Tax to fund schools is unconstitutional......that was about 15 years ago...still no change in how they fund schools!!!

ETA:

It took two weeks for Gov. Lynch’s estimate of this year’s revenue shortfall to grow $50 million worse. What was a $200 million shortfall on Oct. 1 became a $250 million problem on Oct. 16, based on revenue already in hand, and projections through June.
Link Posted: 10/25/2009 2:49:37 AM EST
[Last Edit: 10/25/2009 2:59:31 AM EST by Chairborne]
Texas will have about a $3.5B budget deficit in 2010, and it will get worse from there. I don't think the property tax cuts they made in 2006 will be around much longer, or the lack of income tax...

http://www.cbpp.org/cms/?fa=view&id=711

Also, article from Dallas libtard:

http://www.dallasnews.com/sharedcontent/dws/news/texassouthwest/legislature/stories/032609dntexstatebudget.3b2d0ca.html
Link Posted: 10/25/2009 3:00:00 AM EST
Originally Posted By Chairborne:
Texas will have about a $3.5B budget deficit in 2010, and it will get worse from there. I don't think the property tax cuts they made in 2006 will be around much longer, or the lack of income tax...

http://www.cbpp.org/cms/?fa=view&id=711


You'll notice that Texas is not projected short in 2011. I am willing to bet that the 2010 figures are high.

I'll also bet that ANY politician that votes Texas a state income tax will be looking for a job come the next election.

Link Posted: 10/25/2009 6:21:36 AM EST
So why don't these states that are dying from there debt go ahead and be on with it and go away.......first off most of the states that are dying finacial are the blue states....they dug there own hole now it's time to throw yourselves into it.....Good motherfucking riddens...
Link Posted: 10/25/2009 6:24:34 AM EST

Originally Posted By Chairborne:
Texas will have about a $3.5B budget deficit in 2010, and it will get worse from there. I don't think the property tax cuts they made in 2006 will be around much longer, or the lack of income tax...

http://www.cbpp.org/cms/?fa=view&id=711

Also, article from Dallas libtard:

http://www.dallasnews.com/sharedcontent/dws/news/texassouthwest/legislature/stories/032609dntexstatebudget.3b2d0ca.html
Noted and saved for future refrence.

Link Posted: 10/25/2009 6:36:43 AM EST
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.

Link Posted: 11/1/2009 1:00:05 AM EST
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


What is the sales tax rate?
Link Posted: 11/1/2009 1:00:13 AM EST
[Last Edit: 11/1/2009 1:01:14 AM EST by FrankSymptoms]
sorry... double tap.
Link Posted: 11/1/2009 1:08:08 AM EST
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D
Link Posted: 11/1/2009 1:20:22 AM EST
Originally Posted By FrankSymptoms:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


What is the sales tax rate?



Where I live it's 8.25%

Link Posted: 11/1/2009 1:27:43 AM EST
Originally Posted By EXPcustom:
Noted and saved for future refrence.




Don't worry, you'll never be able to use it because Texas will NEVER get into as much debt as California. Even if we have a budget shortfall we have billions in the bank to cover it.

You can still dream though.



Link Posted: 11/1/2009 1:37:56 AM EST
Fuckers around here cant spend it fast enough.

More taxes coming.
Link Posted: 11/1/2009 5:54:12 AM EST
[Last Edit: 11/1/2009 5:56:10 AM EST by LoveHammer]
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.

Link Posted: 11/1/2009 6:03:29 AM EST
[Last Edit: 11/1/2009 6:04:07 AM EST by Gloftoe]
Link Posted: 11/1/2009 6:05:45 AM EST

Originally Posted By Gloftoe:
Originally Posted By SouthEndXGF:
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D


Really?


See, people like me, they really do, even Texans.

...at least I keep telling myself that.
Link Posted: 11/1/2009 6:06:34 AM EST
Originally Posted By LoveHammer:
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.



You know they freeze your property tax rates once you hit 65 (with a few exceptions) so it won't keep going up.
Link Posted: 11/1/2009 6:09:15 AM EST
Originally Posted By bgenlvtex:
I'll also bet that ANY politician that votes Texas a state income tax will be looking for a job come the next election.



There has been a couple of extremely Liberal House Dems that have proposed a state income tax in the past; it usually doesn't get past the calendar committee and dies without seeing the light of day. It's a third-rail issue in Texas. However, these legislators that propose this type of tripe come from the big cities and keep getting re-elected. Some have been in the Leg for at least 15 years that I can recall...
Link Posted: 11/1/2009 6:10:25 AM EST
Link Posted: 11/1/2009 6:14:40 AM EST
Originally Posted By SouthEndXGF:
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D


Not really. He can take his "big city thinking" some where else.
Link Posted: 11/1/2009 6:19:31 AM EST
Originally Posted By LoveHammer:That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own"...


I've lived elsewhere before (currently live in Arlington, TEXAS) and look at it the other way:
It sucks to be taxed on what you make BEFORE you even get a chance to spend it!
By having the choice to buy property wherever you choose, YOU choose your tax rate.
You choose whether you get taxed at all on property -you could rent, live in the sticks for cheap,
buy a mansion or a farm... whatever. In Texas it's your CHOICE. It's not perfect, but other places
suck in comparison.

For example: Maryland (where I moved from last)
State income tax, Municipal income tax, sales tax...
Oh... with what you've got left, if you want to buy a house? Property tax too!
And shitty gun laws. It's half a step from Cali (lived in that shithole for 2.25 years), NY (where I grew up), and NJ.
Link Posted: 11/1/2009 6:29:48 AM EST
Originally Posted By TxAggieA-Batt:
Originally Posted By LoveHammer:
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.



You know they freeze your property tax rates once you hit 65 (with a few exceptions) so it won't keep going up.


This +1
Link Posted: 11/1/2009 6:31:47 AM EST
Originally Posted By LoveHammer:
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.



the problem is that in states with an income tax also have property taxes. i spent 27 years in Houston and have been in NYC for the last 12. in Houston you have property and sales taxes (contest your property tax value when they send your appraisal. there's a good chance it'l work); in NYC you have property tax, sales tax, state income tax, city income tax in addition to everything twice as expensive
Link Posted: 11/1/2009 6:38:49 AM EST
I remember hearing on the radio a few months ago, the governor talking about what they have to send the federal government, for what they pay to the fed they get back something around 82 cents on the dollar. Sounds like a good deal to me
Link Posted: 11/1/2009 6:43:31 AM EST
Originally Posted By electrojk:
Originally Posted By SouthEndXGF:
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D


Not really. He can take his "big city thinking" some where else.


^THIS^
Link Posted: 11/1/2009 6:45:48 AM EST
[Last Edit: 11/1/2009 6:46:02 AM EST by glock21guy]
Originally Posted By Desp:
I remember hearing on the radio a few months ago, the governor talking about what they have to send the federal government, for what they pay to the fed they get back something around 82 cents on the dollar. Sounds like a good deal to me


I've heard New Mexico gets $3 back on the $1 for money they send to the Fed. Could be worse for you though Delaware gets the lowest back and its something like 40-45 cents.
Link Posted: 11/1/2009 6:46:47 AM EST
[Last Edit: 11/1/2009 6:47:33 AM EST by EXPcustom]

Originally Posted By alc1343:
Originally Posted By electrojk:
Originally Posted By SouthEndXGF:
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D


Not really. He can take his "big city thinking" some where else.


^THIS^


I mean really...

You all are acting like "Big City thinking" is a bad thing.
Link Posted: 11/1/2009 6:47:30 AM EST
Originally Posted By TxAggieA-Batt:
Originally Posted By LoveHammer:
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.



You know they freeze your property tax rates once you hit 65 (with a few exceptions) so it won't keep going up.


I did not know that. I'll let my Dad know too. I'm sure he doesn't know about the freeze either. He's 61, so I'm sure he'll be glad to know he is getting close to the freeze age.

Thanks for the info.


Link Posted: 11/1/2009 6:48:05 AM EST
Originally Posted By LoveHammer:
Originally Posted By Fuggit:
Originally Posted By bgenlvtex:
It is worthwhile to add that we have no state income tax.


But the municipalities hose us on property taxes.



That's really the thing that "sucks" about TX (high property taxes). I would rather pay a tax based upon my income rather than the value of the property I "own". It's too easy for the municipalities to raise taxes. Every year my house is worth more, the city says so, and oftentimes it increases by more than the inflation rate. This makes TX a terrible place to retire. I am no where near retirement age, but my Dad is, and we just had this discussion yesterday.



the problem is that in states with an income tax also have property taxes. i spent 27 years in Houston and have been in NYC for the last 12. in Houston you have property and sales taxes (contest your property tax value when they send your appraisal. there's a good chance it'l work); in NYC you have property tax, sales tax, state income tax, city income tax in addition to everything twice as expensive
Link Posted: 11/1/2009 6:56:15 AM EST
Link Posted: 11/1/2009 6:58:14 AM EST
Originally Posted By EXPcustom:

Originally Posted By alc1343:
Originally Posted By electrojk:
Originally Posted By SouthEndXGF:
Originally Posted By EXPcustom:
I am keeping a eye on this thread, these Texans may be onto something...



Amen, brother. When CA floats away, you'll be welcome here :D


Not really. He can take his "big city thinking" some where else.


^THIS^


I mean really...

You all are acting like "Big City thinking" is a bad thing.



Where has all of that "Big City Thinking" gotten California? How are those gun laws, taxes and deficits working out for ya?

Link Posted: 11/1/2009 6:59:33 AM EST
Link Posted: 11/1/2009 7:00:17 AM EST
Originally Posted By EXPcustom:I mean really...

You all are acting like "Big City thinking" is a bad thing.


It is.
FUCK big city thinking.

-and, of course, Fuck Obama too! (big city thinking asshole)

Link Posted: 11/1/2009 7:02:49 AM EST
Houston (the city) is apparently pretty close to bankruptcy.
Link Posted: 11/1/2009 7:06:56 AM EST
[Last Edit: 11/1/2009 7:07:53 AM EST by Paul]
Link Posted: 11/1/2009 7:08:05 AM EST
Link Posted: 11/1/2009 7:10:13 AM EST
Link Posted: 11/1/2009 7:19:41 AM EST
Originally Posted By Paul:
My tribe can kick your tribe's ass


I dobut it with your 50 rounds of ammo a month allowance.
Link Posted: 11/1/2009 7:20:44 AM EST
Link Posted: 11/1/2009 7:21:55 AM EST
Originally Posted By DragoMuseveni:
Originally Posted By Paul:
My tribe can kick your tribe's ass


I dobut it with your 50 rounds of ammo a month allowance.


You can do alot of damage with 50 rounds of .50bmg....

Uh, nevermind.
Link Posted: 11/1/2009 7:22:01 AM EST
Link Posted: 11/1/2009 7:22:19 AM EST
[Last Edit: 11/1/2009 7:22:31 AM EST by Paul]
Link Posted: 11/1/2009 7:22:36 AM EST
Originally Posted By FrankSymptoms:
A friend (from TX) told me that Texas' constitution forbids deficit spending. How is your state doing during the current crunch?

Colorado is well over 300 million in the hole; California is dying on the vine; several other states are troubled.

(And I put this in GD instead of HTF––TX for a reason.)


NC Constitution also has a balanced budget requirement. Many states do.
Means nothing.
Instead of making a budget based on actual income, deficit spending rules the day and every tax imaginable is raised or new taxes and fees are invented to meet that deficit. Then the pols pat themselves on the back about their hard work balancing the budget. In short, they use the amount of deficit to require a tax and fee increase.
That is how the balanced budget requirement works in NC, even without all the accounting sleight of hand. I bet many other states in the red do the same thing.

If you ran your bank account like government does, you would be in jail.
Instead, they give themselves raises.
Link Posted: 11/1/2009 7:24:45 AM EST
8.25% is sales tax rate, not real estate taxes.
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