Rainy Day Fund: For a Rainy Day or a Catastrophe

Expecting new taxes to result in more revenue totally forgets about free will and our freedom to change our behavior in response to taxes and other changes.

Poor planning is poor planning–not a catastrophic situation beyond our control. BTW, Rep. John Zerwas wrongfully considers himself a Tea Party fiscal conservative in Texas.

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Posted on February 23, 2011, in Budget, Videos and tagged , , , . Bookmark the permalink. 2 Comments.

  1. The real name for the rainy day fund is the
    Economic Stabilization Fund. This means it is to be used for what Texas is going through now – instead of raising taxes. It isn’t for hurricane relief, or the like. So tired of hearing about Zerwas and other representatives not being conservative enough. I don’t know about you, but a tax increase doesn’t appeal to me at all. You know TAXED ENOUGH ALREADY

  2. Poor planning is the problem. After instituting the Margins Tax on business in Texas, the Comptroller estimated revenues which didn’t foresee the economic downturn or that businesses would change their way of doing business instead of handing over all the tax money. The Legislature promptly allocated and spent the revenue which didn’t come in as expected.

    Our economy is in poor shape. The TX shortfall is HUGE–beyond most of our comprehension. The only way to fix it is to STOP SPENDING, and reassert State sovereignty so as to get out from under excessive Federal taxation, waste, unconstitutional spending, and unfunded mandates.

    Considering how Pres. Obama and his administration are targeting businesses and the wealthy who provide jobs while destroying TX industries and ruining our economy, the economy probably won’t be in better shape in two years. SAVE the RAINY DAY FUND–it’s barely drizzling yet.

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