Tuesday, July 14, 2009

More political pondscum...

Lear union members in Arlington told 500 employees to go home…they were being replaced by temporary workers. How’s that change working out for you?

Texas reports another drop in sales tax so now that we are short $500 million, where will they get it?

Green energy in Austin, Texas costs 3 times as much as conventional energy, and they wonder why it won’t sell…

0bama 7/2/09 ~ Recovery will take months… *** 0bama 7/12/09 ~ Recovery will take years… Do you think this guy has a clue about what he’s doing and what’s going on? The next sentence gives the reason why...

US deficit passes $1 trillion for the first time ever! Blame it on Bush! Okay, I concede that Bush is partially to blame...

In New Hampshire, which got $416 million Stimulus dollars, officials have proudly announced that the money has created jobs — 50 of them, to be exact. Only 34 of them are full time. $8.32 million each… what a bargain!

2010 Campaign Slogan: “Irresponsible Leadership for an Unsustainable Future”

1 comment:

The Donald said...

I will be shocked if Texas doesn't pass a sales tax increase in 2011.

No surprise that sales tax receipts are down. Probably will continue to drop, for a couple of reasons: 1) Sales of goods have dropped, notably high-ticket durables (cars, boats, appliances)- no revelation here, and 2) Increasing non-compliance in remittances of the taxes that are collected, as retailers/merchants divert tax dollars collected to other purposes.

Add to that the fact that the state has a ton of "phantom" tax receivables on its books - taxes estimated (as required by statute) because the permit holders failed to file returns (franchise, sales, mixed beverage, hotel), but which never actually accrued or were collected by the businesses, and will be wiped out once the taxpayer/business files its actual figures.

Paraphrasing Denney Crane and Don Henley, "I could be wrong, but I'm not, no I'm not."

We should be carefully watching Kali-for-ni-a which has gone insolvent. Texas may have some insulation, but we're not immune to the global/national recession. CA is giving out [worthless] IOUs for tax refunds, to pay vendors/suppliers. It could happen here.

Also best to also remember Argentina. The result of printing money is predictable.