Tag Archives: trickle down economics

So how’s that trickle-down working out for Arizona?

The Arizona Capitol Times (subscription required) reports that Arizona Legislature’s budget analysts predict 2018 shortfall:

The Arizona Legislature’s budget analysts last Thursday predicted a budget shortfall that could top $100 million in the current and coming year as the impact of corporate tax cuts continues to overwhelm increases in sales, insurance premium and personal income tax collections.

Whaaa? You mean tax cuts don’t pay for themselves and are revenue neutral? (sarcasm).

Chief budget analyst Richard Stavneak told economists and state officials who make up the Legislature’s Finance Advisory Committee that the shortfall will hit $104 million. That’s out of an expected $10 billion in spending for the budget year that begins next July 1. A panel of state lawmakers also attended the meeting.

Excluded from that projection is $90 million in current spending that is labeled one-time but appears to be an ongoing commitment by the Legislature and Gov. Doug Ducey, Stavneak said. That puts the expected shortfall next year close to $200 million if that spending isn’t cut. The revenue picture could also brighten, but signals are mixed, he said.

Phased-in corporate tax cuts enacted under former Gov. Jan Brewer in 2011 have cut more than $600 million in yearly revenue since 2014. Rep. Don Shooter, R-Yuma, said it may be time to revisit the corporate tax cuts and predicted a budget battle next year.

“It’s going to be a free-for-all. We’re back to the cutting, I don’t see any other way,” Shooter said. “It’s going to come down to who’s going to bleed the least, what’s going to be the least painful, I guess.”

Continue reading

#LD9: Know Your Candidates before You Vote

Pamela Powers Hannley, Ana Henderson

Residents of Legislative District 9 have a clear choice for Arizona House. Two Democrats Rep. Randy Friese and Pamela Powers Hannley are running against Tea Party candidate Ana Henderson.

The Clean Elections debate revealed major differences between Henderson’s extreme Tea Party positions and the two Democrats’ views.

To simplify your voting decision, I revised my ven diagram comparing where I stand on the issues and where Henderson stands.

Continue reading

Why Obama Now (video)

by Pamela Powers Hannley

After the jump, watch a 3:44 minute video on why anyone who makes less than $1 million per year should vote to re-elect President Barack Obama. 

This is not rocket science, people. If you're undecided, you haven't been paying attention for the past 30 years. Vive la 99%.