Despite red ink, some governors push big tax cuts for businesses

[NeoConsSuck]

Source: Stateline.org

After a banner election year that gave them control of the executive office in 29 states, many Republican governors are leaving little doubt where they stand on taxes, issuing blunt warnings to lawmakers not to pursue tax hikes as they balance their budgets in the months ahead.

It should come as no surprise that Republican governors are ruling out tax hikes. According to a Stateline tally, at least 11 new Republican governors — and one Democrat, Andrew Cuomo of New York — made campaign pledges not to raise taxes. Several other governors of both parties have announced no-tax-hike intentions in state of the state speeches delivered to lawmakers over the last six weeks. (Click here for Stateline’s database of all speeches.)

More surprising is that GOP governors in Florida, Iowa, Michigan and elsewhere want to go a step further. In what is widely considered the worst year yet of states’ four-year budget crisis, these governors are promising big tax cuts for businesses and, in some cases, individuals. The proposals reflect their conviction that one of the best ways to spur business growth and job creation is to reduce taxes for those who do the hiring.

In Michigan, which faces a shortfall of $1.8 billion, Governor Rick Snyder is set to unveil a budget proposal this week that also will include a major tax cut for businesses. Though many details are not yet known, Snyder will seek to eliminate a gross receipts tax for businesses and replace it with a flat, 6 percent corporate income tax. He acknowledges the move could cost Michigan $1.5 billion, although he is expected to offset at least some of that loss with other revenue moves, such as eliminating an income tax credit for working families.





Read more: http://www.stateline.org/live/details/story?contentId=550109

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Typical Republican attitude: My state is in the red, so I'll give tax breaks to corporations, causing my state to go deeper in the red. To help make up this additional deficit, I'll just eliminate the income tax credit for working families.

What were the citizens of Michigan thinking when they voted these anti-Americans into office??

[HereSince1628]

1. They weren't thinking. They were feeling.

They were afraid and they were irrationally jealous of other people who they perceived to have had a better break then them.

The elections took place at the intersection of GREED and JEALOUSY and now, the legislatures are driving the agenda down GREED highway, taking their load to Everywhere, USA.

[groundloop]

2. That story could have been about Georgia, huge cuts to education yet......

our governor wants to cut corporate taxes by 1/3. College costs are set to skyrocket, they've done away with limits on the number of students per classroom in k-12, children don't have their own text books to bring home, yet Nathan Deal wants to give this huge gift to corporations - and will probably succeed.

[wilt the stilt]

3. Nathan Deal will run

the state just like his personal finances- bankruptcy.

[madrchsod]

4. illinois raised personal and corporate taxes...

lot`s of folks are pissed but a lot of business will be paid. there`s still a huge debt still out in the future but cutting taxes is`t going to make up that difference.

texas is 27 billion in the hole and has very little taxation...where are they going to find the money?

[Vinca]

5. Come on, people. You're not thinking rationally.

It costs money to close factories and move jobs overseas.