January, February, March—for three straight months, South Dakota state government has taken in less money than it needs to cover its Fiscal Year 2019 budget. According to the latest report from the Legislative Research Council, we came up short $3.3 million in sales tax and $1.8 million in bank franchise tax:
For the first nine months of FY2019, we’re short $19.9 million in revenue:
Sales tax refunds to big businesses are taking $2.6 million off our bottom line each month (sales tax refunds to those big businesses’ workers who buy food for their kids are taking nothing off our bottom line, because we tax your daily bread without apology). A timing glitch knocked another $11 million out of proceeds from licenses, permits, and fees. But even without those footnoted negatives, our revenues are still lagging for the first three months of Kristi Noem’s Administration.
It’s definitely Noem’s fault. Recall now.
Let’s do an income tax too right?
Wrong, Steve. The GOP answer is always a massive tax cut. Look how well the national cut is paying for everything. If paying less makes things better, paying nothing should make things GREAT AGAIN, eh?
Steve, when speaking of Nome, I think your implication is correct — it is not Governor Noem’s fault. However, this may trace back to Representative Noem’s vote on tax cuts.
Kristi Noem Published 10:51 a.m. CT July 27, 2018 | Updated 10:52 a.m. CT July 27, 2018
In December, President Trump signed our historic tax cuts bill. As a result, the average South Dakota family of four will see their after-tax incomes rise by $2,400. How? We made it so the first $24,000 a couple makes is now tax free. We doubled the Child Tax Credit to $2,000 per child. We eliminated the marriage penalty, and built in pro-growth reforms that produced higher wages, lowered utility bills, and created a booming job market.
https://www.argusleader.com/story/news/brandon/2018/07/27/noem-tax-cuts-working/849133002/
The slowing in spending could well be a reflection that the “tax cuts” were not as “cutty” as promised, and that concentrating lots of money in the hands of the most wealthy does not really trickle down to wide-spread spending and prosperity.
If this is indeed an issue – what would be your solution? Medicaid expansion?
I think the solution would be for more traps. Forget about the Medicaid Expansion, not gonna happen even if there is Medicare for all in South Dakota. We love being pitiful and needy.
Your analogy o, makes perfect sense. The tax cut was good if you’re Denny Sanford, but not so good if you work at Denny’s.
Drowning government in a bathtub to rid itself of social services, like road maintenance, has always been the goal. Here is how it works.
“But the lesser known fact about Tax Day is all the money that doesn’t come in. ProPublica estimates that every year, the public misses out on $18 billion in revenue thanks to a whittled down workforce of government tax auditors. Hamstrung by eight years of budget cuts, the Internal Revenue Service has shed staff dramatically. As of 2017, the organization had 9,510 auditors—a third less than it had in 2010. That means fewer bookkeepers to investigate shady claims or to go after people who don’t bother to file taxes. No wonder the department’s inspector general estimates that the amount of lost revenue has gone up by at least $3 billion each year.”https://washingtonmonthly.com/2019/04/16/the-tax-day-outrage-you-dont-know-about/
Republicans cannot govern, they can only steal. Now you know why many support them, to keep from paying taxes, that is, to steal from you. In order to come up with the shortfall, GNoem and her team will have to make some cuts or watch the revenues come in from Pennington County with the CBD.
I sense a great loss for us. The list can go on.
1. The republican party self immolation witnessed daily has not put them out of business for they own 90% of everything.
2. Rupert Murdoch has been successful sowing Republican propaganda world-wide. Witness the Barr spin job on Trumps Russian-gate.
3. “The Shed, in the end, feels like the very generous birthday present you receive from the rich man who stole your wife.” The 1% has diluted our resistance movement. https://www.nytimes.com/2019/04/04/nyregion/the-shed-nyc-hudson-yards.html?smid=tw-nytimes&smtyp=cur
3.
3.
In a related matter- Notre Dame Uni has hired former SOH, Paul Lyin’ Ryan, to teach economics, a course he is unfamiliar with if his stint in congress is any judge. Bwahahahahahahahahahahaha!