« What Does Pork Look Like | Main | Wasn’t Transportation the General Assembly’s Top Priority? »

Trying to be Just Like Mark

In 2004, then Virginia Gov. Mark Warner (D) engineered the largest tax increase in Virginia history with the help of Sen. John Chichester (R). With that example of bipartisanship, Warner used it as the keystone of a short-lived run for the presidency.

Are other governors looking to emulate Mark Warner? That thought occurred after reading in yesterday’s Chicago Sun-Times that Illinois Gov. Blagojevich (D) had “proposed a record $60.1 billion budget reliant on the largest tax increase and biggest borrowing spree in state history.” As most any politician would do, the governor claimed there’s much good to be done. As the Sun-Times wrote:

“Claiming a ‘moral imperative,’ Blagojevich wants to infuse billions of new dollars into public schools, a new health care program for the uninsured and poorly financed government pension funds for state retirees.”

A major portion of the tax increase would come from a gross receipts tax on business. But a blogger for the Tax Foundation offers a bit of Economics 101:

“Regardless of how high the governor may want to increase spending (even if he w anted to triple it), a gross receipts tax is one of the worst ways to raise the revenue for that spending.”

But what tax-raising politician ever understands the impact of their plundering ways?

TrackBack

TrackBack URL for this entry:
http://acta.us/growls-mt/mt-tb.fcgi/408