Taxprof.Typepad: Red States Feed at Federal Trough, Blue States Supply the Feed"

[Thiebear]

but you DO have time to weave your own clothing? or forge your own auto parts? or program your own CGI for your own private little movies???

I have to in all seriousness say that THIS^^^ was one of the mose simplistic and vapid statements i have seen on this board.
(edit::: i take that back... teh competition is simply too strong...)[COLOR="Gold"])

Farming is known to be hard work over vast expanses of land using incredibly expensive equipment for little pay and dependent on random weather patterns. I thought i had noticed many of the STATES listed included were Farming States.
CGI graphics would be easy money.
I have a library of vapid comments, I didn't think this was one that i could add to my list.

[Baculus]

I didn't realize this was a referendum against Texas. A lot of Texas hate out there.

Hate? How so? So, it's alright for the Right to criticize debts and deficits, but it becomes hate when anyone else does so?

What an odd response.

---------- Post added July-18th-2011 at 04:49 PM ----------

I'll trust my perception of reality and ability to discern facts....it seems to have worked out well for me and mine so far .

So, you're willing to ignore your state's problems so you can fulfill your own sense of satisfaction. Gotcha.

I will say, though, that this isn't the way you solve problems -- by ignoring them. And you are ignoring the budgetary issues which are partially due to the policies of the governor which you seem to admire.

Here is the reality: Texan state debt has doubled under Perry. You say you have a "low debt," but your assertion must be years out of date:

"According to the board's annual reports, Texas had $34.08 billion in outstanding bonds and notes as of Aug. 31 — the end of the 2009 fiscal year."

http://www.politifact.com/texas/stat...d-under-perry/

Your "perception of reality and ability to discern facts" would be well served by listening to multiple sources, as I had provided.

I guess ignorance is bliss and I'm wallowing in it.

You said it, not me. :-)

[The Evil Genius]

Good ol' Rick Perry.

He straddled Texas with a structural deficit (guaranteed $10 billion in deficit at the start of each 2 year Budget) due to his micalculations on revenue generation.



Not to mention that his solution to the $27 billion budget deficit facing him this year (and next since its a 2 year budget) was to push most of it into the next budget cycle (in 2013).

Yep.

That's conservative gold right there.

BTW - the OP topic is one that I have been harping on ad nauseum for awhile. If only my state got back what it paid in federal taxes.

There more than likely wouldn't be a state budget problem. Sigh.

[twa]

Care to compare others states debt?

I already did

lets compare NY (a very close economic match)
As of March 31, 2006 New York State had approximately $48.5 billion of total State-Funded debt. This includes $3.5 billion in General Obligation bonds and notes outstanding and an additional $45.0 billion issued and outstanding by State public authorities.


wanna guess what it is now???

In addition to this State-Funded debt, public authorities had over $80.0 billion in other debt outstanding as of December 31, 2005.

[The Evil Genius]

Care to compare others states debt?

I already did

lets compare NY (a very close economic match)
As of March 31, 2006 New York State had approximately $48.5 billion of total State-Funded debt. This includes $3.5 billion in General Obligation bonds and notes outstanding and an additional $45.0 billion issued and outstanding by State public authorities.


wanna guess what it is now???

In addition to this State-Funded debt, public authorities had over $80.0 billion in other debt outstanding as of December 31, 2005.

When NY gets a cash cow like Big Oil to continuously keep it out of the ****hole, wake me up.

Perry has done little than pass the buck onto the next legislature each 2 year session. Not sure why you love the guy so much, is all.

[Baculus]

Care to compare others states debt?

I already did

lets compare NY (a very close economic match)
As of March 31, 2006 New York State had approximately $48.5 billion of total State-Funded debt. This includes $3.5 billion in General Obligation bonds and notes outstanding and an additional $45.0 billion issued and outstanding by State public authorities.

wanna guess what it is now???

In addition to this State-Funded debt, public authorities had over $80.0 billion in other debt outstanding as of December 31, 2005.

So, basically you're saying, "I don't care about my state budget as long as I can find some comparison which makes me feel better." Well, so much for your "low budget" argument, if that is the case. Because, from what I have seen, your governor ain't that much of a fiscal conservative, except when it comes to programs he doesn't like. Of course, this isn't surprising, since several of the high-profile governors or former Republican governors, such as Palin or Pawlenty, saddled their states with larger debts than it had before they began office. They like to talk a fiscally conservative game, but they don't put what they preach into practice.

By the way, are you more loyal to your state or to your governor?

BTW, as I said before, Texas used stimulus money -- you know, that federal program which you, Perry, and other conservatives opposed -- to bring down its debt and to help cover other state spending, like the educational budget.

http://money.cnn.com/2011/01/23/news...ulus/index.htm

When you also consider the billions in federal contracts which Texas also receives, it is obvious that the state is important to the nation as the federal budget is important to Texas.

---------- Post added July-18th-2011 at 06:39 PM ----------

When NY gets a cash cow like Big Oil to continuously keep it out of the ****hole, wake me up.

Perry has done little than pass the buck onto the next legislature each 2 year session. Not sure why you love the guy so much, is all.

Yep. I mentioned this earlier, but some of the Texas state schools can't even purchase new textbooks until the 2011 school year begins since the budget was pushed into the new school year, just to avoid a higher budget and as an accounting "trick."

But hey, gotta keep the taxes low for those wealthy Texans, right?

[The Evil Genius]

Yep. I mentioned this earlier, but some of the Texas state schools can't even purchase new textbooks until the 2011 school year begins since the budget was pushed into the new school year, just to avoid a higher budget and as an accounting "trick."

But hey, gotta keep the taxes low for those wealthy Texans, right?

That might not be such a bad thing, since the textbooks they would be purchasing are the revised Tea Party approved version of US History. The one where slavery was never proven to have happened.

[Yusuf06]

Interesting thread in that some seem to have missed the most obvious point, namely that the reason for the differential in Federal dollars going into certain states is in many ways irrelevant. What absolutely is undeniable though is that if we slash Federal spending in a major way, those states currently receiving the most Federal money are likely going to be hurt the most.

I realize that a lot depends on how/what gets cut, but at the end of the day if you had $X coming in and you now have less than $X coming in, your economy is going to take a hit. Moreover, this won't be just a statewide phenomenon. I expect the effect will probably be regional given that the high $$ Federal receipt states seem in many cases to be clustered together. Think of it as a reverse stimulus if you will.

Oh and twa, I hate to bust your bubble but your boy Perry is going to look awfully dumb when he doesn't win the presidency and has to go back to TX and deal with all the debt he pushed forward through the use of accounting shenanigans. Even if Obama loses, which I doubt, I certainly hope Perry doesn't win since I want to see him have to deal with the mess he's made.

[Baculus]

That might not be such a bad thing, since the textbooks they would be purchasing are the revised Tea Party approved version of US History. The one where slavery was never proven to have happened.

You have a point, amigo! :-)

[Yusuf06]

I didn't realize this was a referendum against Texas. A lot of Texas hate out there.

Well last time I checked it is a Redskins message board. That might have something to do with it.

[twa]

Ya'll are amusing

If ya read my posting history I don't even like Perry

Bac you want to compare debt levels to what if not other states?....Ya wanna do countries?

Our economy is certainly bigger than most countries

Ya want to excuse it with oil when NY has massive deposits of gas....and how much was Wall Street and NY bailed out?

Texas received the second lowest amount of bailout money(per capita) and will be paying for most of ya'lls from the looks of it...and you're bitching

[NoVaO]

One of the things that has helped Texas is they largely avoided the housing bust, and a lot of that can be traced to, surprisingly, pretty strong regulations in the housing market.

[Destino]

TWA defending Texas on a left leaning section of a Redskins forum is going to be an uphill battle. I'm not going to hate because frankly they've dropped down my list of "States we should consider trading for vacation destinations for weary Americans." Arizona leads my list currently. Plus the Mavericks did me a solid by beating the Heat so I'm inclined to extend some love to the overrated state.

[twa]

BTW - the OP topic is one that I have been harping on ad nauseum for awhile. If only my state got back what it paid in federal taxes.

There more than likely wouldn't be a state budget problem. Sigh.

you sure are hard to please....ya'll get back more than any other state

What are ya greedy?...wheres the love for the needy?

added
http://www.pe.com/localnews/opinion/...1.39469b9.html

unfairness is too simplistic an explanation for the state-federal money ratio. California has a higher median income than the national average, and state residents thus pay more in federal taxes than people elsewhere do. California also has a smaller proportion of older people than the rest of the nation, and so receives proportionately less from Medicare and Social Security -- programs which represent a sizable share of federal spending. No political maneuvering will change such demographics.

But keep the faith....the way ya'll are screwing up ya will not be a donor state long.,it will be back to mooching like ya used to do

[techboy]

TWA defending Texas on a left leaning section of a Redskins forum is going to be an uphill battle.

Left leaning? I'm apparently Michele Bachmann's biggest supporter?

Seriously, it has been kind of fascinating to watch the Tailgate's evolution over the 8 or so years I've been here. I remember when the board was solidly conservative, and the liberals were lonely voices in the wildnerness.

Which is what I'd expect on a football message board, actually, since this should tilt demographically towards male southerners.

It's been an interesting shift.