Tuesday, August 12, 2008

Calling Steve Beshear's bluff

Gov. Steve Beshear was in Owensboro Monday night talking about raising government revenues. From The Lexington Herald Leader:

"Beshear again said expanded gambling and an increase in the cigarette tax — two proposals that failed in the legislature this spring — have the most potential to boost state revenues."
"”If you don't agree with this particular source, let's find some other source,“ he said. ”We need to hear from the people what they're willing to do.“"
"Beshear said he hadn't decided whether he would reconvene the legislature for a special session to deal with a new revenue measure before the end of the year."

Actually, the most efficient way to boost state revenues is to make the most of what we already have. Cutting out corporate welfare, repealing prevailing wage, and repealing Certificate of Need would provide a nice start to paying off our unfunded public employee benefits. We should focus on paying for the government we have already committed to, Governor, before we go looking for ways to make government bigger.


Hempy said...

The writer wrote: "Actually, the most efficient way to boost state revenues is to make the most of what we already have."

What better way to "make the most of what we already have," than by proportional taxation on the movement of all moneys? It would be like a toll tax on the financial transaction highway. However, this may not be the kind of toll the politicians had in mind.

In Federalist Paper 12, Alexander Hamilton wrote:

"The ability of a country to pay taxes must always be proportioned, in a great degree, to the quantity of money in circulation, and to the celerity with which it circulates. Commerce, contributing to both these objects, must of necessity render the payment of taxes easier, and facilitate the requisite supplies to the treasury."

With computers, this is now possible. Banks would pay a toll every time they moved laundered drug money from one account to another.

Lending institutions would pay a transaction fee every time they bought a mortgage from another lending institution.

Stock speculators would pay a transaction fee every time they bought a speculative transaction.

All it would take is a little courage to stand up for these American values of proportional taxation on the movement of moneys without worrying if it'll offend lobbyists. Of course it will. But what's new?

Jim Anderson Stivers said...


Thank you for your post.

I too feel all government operates way beyond its ability to control spending without "back scratching."
Meaning $$$$.

The suggestions you have made are very good. I agree with you but, unfortunately, as long as THE LOBBY is able to run our government, we can not expect much consideration for those that work hard, to make the money FOR FORTUNE 500.

We (Citizens) could make a difference, but as a modern society, we are way to lazy to take the effort.