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Well - put me in the camp of higher taxes can mean better schools, healthcare, population growth, better roads, etc....
I'm surprised people are so stingy and think taxes are high - US taxes are among the lowest in the world and the infrastructure is crumbling around the nation.
Just look at the teacher situation in Oklahoma due to tax cuts. Don’t be surprised when it happens here.
WV, in your response you unfortunately ignored that this state had a revenue surplus of close to one billion dollars at the start of 2018. Based on your assertion, we would be raising taxes to add revenues to the existing revenue surplus. In addition, you don't address the economic and political consequences that significant tax increases would have on the businesses (remember, Hawaii has a service based economy
i.e., pretty much a 'one-trick pony') and how additional tax levies would burden Hawaii families. As pj737
clearly pointed out, the issue is and will continue to be for the foreseeable future, spending allocations.
Growth in productivity would certainly be a pathway to an increase in taxes. Perhaps you might suggest examples of how productivity growth is achieved in service based economies such as we have here in
Hawaii.
Perhaps you might suggest examples of how productivity growth is achieved in service based economies such as we have here in
Hawaii.
If I read the story correctly, once they funded the rainy day fund - which can be wiped out quickly, and funded public worker health benefits, there was only $242 million left.
Regardless, I'm not sure where I suggested productivity growth is achieved in a service based economy, but based on your prior argument, if the state had a $1 billion surplus (down to $242 million) clearly something is growing.
This notion of taxing "working families" isn't something I buy - if you don't make a lot, even if the tax burden is higher, it still doesn't go up a lot. Anyway, I would suggest taxing higher the Pj's of the world higher (good grief, if he can pay $4,000 month in property taxes, certainly he can afford more) - and taxing higher income earners higher (there are a lot of people making a lot of money in Hawaii - 3rd highest per capita millionaires in US), tax retiree pensions above a certain income level, raise to a least double property taxes on property above $1 million, get rid of GET - and replace with a 9% sales tax, raise water rates (I mean seriously, why is water so cheap in Hawaii), raise the gas taxes to fund roads and at the same time discourage driving - I'd start there.
Why omit we are 49th in total taxes collected per capita - which tells me taxes are artificially low. Hard to be efficient when you don’t have much to begin with.
Good grief.
Hawaii’s income taxes are among the highest in the nation. If Hawaii wants more tax revenue, lower the tax rate. Lower tax rates will result in more tax revenue. It’s basic economics.
Well - put me in the camp of higher taxes can mean better schools, healthcare, population growth, better roads, etc....
I'm surprised people are so stingy and think taxes are high - US taxes are among the lowest in the world and the infrastructure is crumbling around the nation.
Just look at the teacher situation in Oklahoma due to tax cuts. Don’t be surprised when it happens here.
Higher taxes does not mean better schools, healthcare, population growth (that’s a good one), and better roads. What higher taxes mean is less revenue. It’s possible one of the results of poor education, roads, and healthcare is from government waste.
How is that voodoo economics? Show me where tax cuts results in less tax revenue? I don’t want to hear about Kansas. It was **** poor tax cut policy and revenue still increased.
What is voodoo is climate science, not tax cut economics.
Hawaii’s income taxes are among the highest in the nation. If Hawaii wants more tax revenue, lower the tax rate. Lower tax rates will result in more tax revenue. It’s basic economics.
Uh. No.
Take a look at the situation in Oklahoma - they are the poster child of lowering tax rates resulting in far less tax revenue.
Heck, lets look at the Trump Presidency.
Obama's last year was a $587 billion deficit. Bad
Trump's first year - $666 billion.
Trump's second year - with lower tax rates, over a trillion, Mmmmm, not such good basic economics.
With the huge growth in tourist arrivals over the past 6 years, and the accompanying increase in tax revenue resulting from that growth, there should be no need or reason to increase taxes on residents. Unless of course the government is not managed correctly and increasing their spending at a rate equal to the increase in revenue.
And if that is the case, which it almost always is, then the pain will be felt very acutely once tourist arrivals and spending starts to drop back down.
Take a look at the situation in Oklahoma - they are the poster child of lowering tax rates resulting in far less tax revenue.
Heck, lets look at the Trump Presidency.
Obama's last year was a $587 billion deficit. Bad
Trump's first year - $666 billion.
Trump's second year - with lower tax rates, over a trillion, Mmmmm, not such good basic economics.
In regards to Oklahoma, the tax cuts could have been poorly designed just as they were for Kansas. I would have to research that more, but poorly designed tax cuts is not proof tax cuts cause less revenue. Also, there were years after the tax cuts that revenue did increase for Oklahoma. Point is, tax hikes does not produce more revenue, but rather stymie the economy and we know that most recently while under Obama. The GDP growth under Obama was horrendous.
This is the first year in Trump’s presidency where the tax cuts are being implemented and already the tax receipts have increased. Also, GDP growth under Trump is more than it ever was under Obama. For Trump’s first 3 quarters he has averaged over 3% gdp growth. This is after inheriting Obama’s 1.2% Gdp growth final quarter. The economy is roaring right now unlike it ever has under Obama.
Deficits has nothing to do with the tax revenues that have increased under Trump. It is not a tax problem, but rather a spending problem. Again, show me where Trump’s tax cuts has resulted in less revenue. Show me anywhere where federal tax cuts has resulted in less revenue? Look at the years where there were tax cuts and look at the federal tax receipts. Anyway, liberals love spending and deficits. So I’m not sure why liberals are so upset about the debt our nation is in. Liberals should be happy about these tax cuts too because of the increase of more federal revenue. The government will have more money to spend on social programs.
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