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I was wondering when a state runs a surplus is it ever appropriate to return it to the tax payers or should the state spend it on infrastructure and corperate subsidies.
Personally, I think spending surpluses on K-12 education isnt right as that they should be funded by local districts.
I do think that surpluses how ever should always be used for corperate subsidies, higher-education and infrastructure improvements and never tax cuts at the state level.
Alot of times these refunds that states do when they have surpluses are spent with-in a month and if all those resources went into infrastructure impovements, higher-education and tax-increment financing it would serve the public good much better and its effects would be felt for much longer.
What state surpluses? Ha ha! They're hiding out with the Federal surpluses! Ask Northern NJ residents about K-12 spending on local school districts. The Republican congressman didn't want to vote yes on the Tax Plan because his constituents had an average $21,000 tax bill. What state do you live now in that runs these surpluses ...Nebraska or Ohio?
I was wondering when a state runs a surplus is it ever appropriate to return it to the tax payers or should the state spend it on infrastructure and corporate subsidies.
Personally, I think spending surpluses on K-12 education isn't right as that they should be funded by local districts.
I do think that surpluses however should always be used for corporate subsidies, higher-education and infrastructure improvements and never tax cuts at the state level.
A lot of times these refunds that states do when they have surpluses are spent within a month and if all those resources went into infrastructure impovements, higher-education and tax-increment financing it would serve the public good much better and its effects would be felt for much longer.
There. Now I can read it and examine.
Last edited by Ibginnie; 11-20-2017 at 03:57 PM..
Reason: deleted quoted post
I think only those surpluses that exceed a certain percentage of the state budget, say 5 to 10%, should be refunded. Otherwise they should be kept for a rainy day fund and/pr credit to the next busget.
Actually, Colorado received more money then projected from marijuana taxes and we actually had a vote on whether or not we should get the overage refunded to us on our state taxes. This would have returned on average 10 bucks to each person. The refund was voted against and the state kept the money for other projects.
To my knowledge, very state is required to have a balanced budget. Some do it with smoke and mirrors. Prudent states take surpluses, or at a part of them and stick them in a rainy day fund. I like the rainy day fund approach better.
Actually, Colorado received more money then projected from marijuana taxes and we actually had a vote on whether or not we should get the overage refunded to us on our state taxes. This would have returned on average 10 bucks to each person. The refund was voted against and the state kept the money for other projects.
I voted for them to keep the surplus. I think it would have resulted in $6 refunded back to each tax payer.
I did the same.
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Ask Northern NJ residents about K-12 spending on local school districts. The Republican congressman didn't want to vote yes on the Tax Plan because his constituents had an average $21,000 tax bill. What state do you live now in that runs these surpluses ...Nebraska or Ohio?
