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Revenue

California Raises Taxes, Lose Revenues…Again!

They say that they definition of insanity is doing the same thing over and over, and expecting a different result.  If that is indeed the case, California’s tax policies make them the official land of fruits and nuts, as they are proving the insanity axiom to be most true. On March 15th of this year, we took a look at the fact that after yet another failed tax increase… One of the greatest weaknesses of the statists is that their efforts at creating a fantasy world. more often than not, create the exact opposite of their stated intent.  They try […]

High Cigarette Taxes Backfire Once Again: Illinois Latest State to Collide with Reality

Who would have thought that higher cigarette taxes would reduce tax revenue?  Well, anyone with a brain would have predictecd that, so I guess that’s why regressives went and did it anyway.  Hot Air has the details… With some time having passed to let the cash cow fatten, we should check back in and see what the fine citizens of the Land of Lincoln are doing with their new found largesse. I do hope they’re not all getting fat and lazy now that all of the state’s fiscal problems have been solved. Ahhh… happy days. When Illinois Gov. Pat Quinn signed a bill […]

Are Washington Leaders Ruining the Economy on Purpose or Are They Just Plain Ignorant?

Government officials in Washington would have you believe that the economic decisions they are making are in the best interest of the public and that chief economic advisors agree they are doing the right thing. These officials would have you believe that running a country (economically speaking – macroeconomics) is vastly different than running your small business or your individual budget (microeconomics).  This is what they want you to believe, but in reality they are wrong. Whether you are running a household, a business or a country, certain firm concrete realities exist.  The biggest one of those is: if you […]

California Raises Taxes and Revenues Decrease: Who Saw That Coming?

One of the greatest weaknesses of the statists is that their efforts at creating a fantasy world. more often than not, create the exact opposite of their stated intent.  They try to engineer unicorns that fart rainbows, and they create a stillborn jackalope.  You would think that they would learn from such infamous failures, but they seem to double-down instead.  The latest example of this comes from Califailure.   Knowing, and probably denying, the long history showing that tax increases  cause a decrease in revenues, they have stuck with the highest tax rates in the country.  Breitbart has the predictable results.   […]

New York Cigarette Tax Fails to Bring in Projected Revenues: Anyone Surprised?

One thing that statists miss is that taxes change human behavior.  When something is taxed to the extent that it becomes less affordable, people will either stop using the taxed item, use less of the taxed item, or obtain the item by other means.  For the latest, NY State is lamenting the fact that their cigarette tax revenue is far below expectations… The Empire State is struggling to bring in additional tax revenue it projected it would gain from efforts to stop smokers from buying untaxed  cigarettes on Indian Reservations, reports the New York Post: The state’s tax collectors were recently […]

Steny Hoyer Meets Reality: Film at 11

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Steny Hoyer accidentally collided with reality yesterday.  Reports confirm that while neither were injured,  Hoyer was shocked and dismayed… If you’re on the fence as far as an opinion on a Balanced Budget Amendment to the Constitution, Steny Hoyer seems to be unwittingly trying to push you in the “pro” direction: (CNSNews.com) – House Minority Whip Steny Hoyer (D.-Md.) said on the House floor last night that if the balanced budget amendment Republicans are supporting is ratified and included in the Constitution it would make it “virtually impossible” to raise taxes. “In order to pay our bills, Republicans would require us […]

Tax the Rich Until They Bleed

And when there’s no more blood, what then? Obama and the liberals love their populist meme: Tax the rich because they are not paying their fair share. Obama and at least some liberals know that is not true but they continue to beat this drum. Why? Because it’s an easy sell. When people are hurting, they want someone to blame . And, of course, Obama thinks this class warfare cry of tax the rich will get him re-elected. People need to know the truth about taxing the rich. There are a lot of myths out there. Below is a video that should go viral that […]

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