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PROVIDENCE — Rhode Island emerged from its last state budget year with a larger-than-expected $60.8-million surplus, according to an unannounced report that surfaced in recent days on the state controller’s website.
When the 2010-11 budget year ended on June 30, the state had only spent $2,963,321,569 of the $3,082,906,821 collected in general revenue.
After depositing a chunk of the money in the state’s budget reserve, which now stands at $130,256,897, the state had a closing surplus of $60,808,457.
Based on data from the Bureau of Economic Analysis, Rhode Island personal income increased by 2.8 percent from 2009 to 2010.
But Dion noted that the 2.8 percent is “aggregate Rhode Island personal income. If taxpayers in higher income-tax brackets received large increases in personal income, then, given the state’s progressive personal income-tax structure, increases in personal income-tax collections would be greater than the increase in personal income.”
He said he suspects — but does not yet have the data to prove — another reason for the up-tick in state income-tax collections: state lawmakers eliminated preferential tax treatment for capital gains income in 2009.
yes...that certainly makes me feel better. Better a surplus than a deficit.
Now we can deal with the pension liability, that is ballooning by the second. Maybe now we can even deal with the crumpling infrastructure, like the roads for instance, that are in horrendous condition. Check out the "speed bumps" on RT. 37. and RT. 6. Why do RI roads have such a short life span, I think RT. 6 was repaved 10-12 years ago. We still have main State roads without sidewalks or storm drains.
Seriously though, imagine how well we would be doing without the socialist component. I agree.
Wow, something we all agree on! Yes, if the municipalities can get a handle on the pension funding issues, we might do OK. Obviously we the taxpayers cannot sustain ever increasing taxes to fund programs that are overly optimistic and are also riddled with corrupt elements.
Wow, something we all agree on! Yes, if the municipalities can get a handle on the pension funding issues, we might do OK. Obviously we the taxpayers cannot sustain ever increasing taxes to fund programs that are overly optimistic and are also riddled with corrupt elements.
I'll drink to that!
RI could be so much more...we should take advantage of our size. We should be drawing visitors, all year long, because we have great and diverse entertainment, live entertainment! Spectacular food and restaurants, that are advertised in Ma. Conn. and N.H. Every community should have a Federal Hill, weekend atmosphere, with wide walk ways to get around. Artists selling paintings, and art of every kind. Halloween could be a state event, that is promoted all through New England. "Visit, eat, drink responsibly, sleep over night at some cool old Historic site, shop for antiques.
Rhode Island is loaded with small business people that need to be set free, White, Spanish, Afro, Greek, Irish, that's what "independent" should be about.
Yes... we need to be safe, increased "friendly" police presents, common sense fire regulation, that everyone can thrive under. Roads that are bright, organized, have proper signs, and are clean. Good fair, honest, efficient Government working with business, not in competition with it.
Narragansett has to be properly developed at it's shores, competing with Newport, permits for small Condos, centers by the sea, should be talked about...sorry I know for some this is a tough pill to swallow. (The 100 ft. trees along the shore should come down, sorry.) Now that we're on the subject a hard pills, the Airport should be at Quonset, and combined with that "deep water port" for large ships of all kinds, and yes... first class Gambling establishments. etc.
I can hear folks from other states saying, "have you ever been to Rhode Island? What a cool little state, so much to do, loaded with arts, music, food, shoppe keepers, of all kinds, and so easy to get around, from the city of Providence to all the interesting Cities and towns, all so close by, each having something special"
That completes the "circle" of a states success.
I didn't mean to ramble on, I had a hard time pushing the "Post Quick Reply" but sometimes this state exasperates me.
Agree 150% x-cept for the gambling. What RI needs are leaders with open minds and vision -- who observe what is going on in the rest of the country where cities thrive on and cater to tourism.
Make the best of spring summer and fall, the best times of the year in RI, May through October.
Stop depending on property taxes and motor vehicle taxes; and keep politicians' hands out of everyone's pocket. Bring the property taxes down, provide helpful incentives for seniors to hold onto their homes. Work with insurance companies to lower the "risk" status of auto insurance in RI. Enforce the traffic laws, raise the fines for infractions. Safe drivers should not have to pay for the "me first" guys and gals.
Get rid of the lazy "generational" politicians who've been sucking the lifeblood out of the state forever.
Changing the mindset of a populus won't be easy, but when it becomes "popular" and affordable to live iin RI, watch out. Maybe even the Floridians will come back instead of having their "permanent" tax escape residences in FL.
yes...that certainly makes me feel better. Better a surplus than a deficit.
Now we can deal with the pension liability, that is ballooning by the second. Maybe now we can even deal with the crumpling infrastructure, like the roads for instance, that are in horrendous condition. Check out the "speed bumps" on RT. 37. and RT. 6. Why do RI roads have such a short life span, I think RT. 6 was repaved 10-12 years ago. We still have main State roads without sidewalks or storm drains.
Seriously though, imagine how well we would be doing without the socialist component. I agree.
If the Republicans let Obama's new Jobs bill pass through, all the crumbling infrastructure throughout our entire country (since the entire US is falling apart) will begin to get fixed.
If they don't, the Tea Party will blame Obama for our crumbling infrastructure. Of course, if the Federal Govt. used Rhode Island's shining example of a progressive tax system, maybe it'd be as well off as us fiscally speaking.
I doubt we'll hear "fiscal conservatives" talking up Rhode Island's credentials any time soon though.
Agree 150% x-cept for the gambling. What RI needs are leaders with open minds and vision -- who observe what is going on in the rest of the country where cities thrive on and cater to tourism.
Make the best of spring summer and fall, the best times of the year in RI, May through October.
Stop depending on property taxes and motor vehicle taxes; and keep politicians' hands out of everyone's pocket. Bring the property taxes down, provide helpful incentives for seniors to hold onto their homes. Work with insurance companies to lower the "risk" status of auto insurance in RI. Enforce the traffic laws, raise the fines for infractions. Safe drivers should not have to pay for the "me first" guys and gals.
Get rid of the lazy "generational" politicians who've been sucking the lifeblood out of the state forever.
Changing the mindset of a populus won't be easy, but when it becomes "popular" and affordable to live iin RI, watch out. Maybe even the Floridians will come back instead of having their "permanent" tax escape residences in FL.
Most Floridians live in Florida because of the weather. I should know, I lived there 25 years.
If the Republicans let Obama's new Jobs bill pass through, all the crumbling infrastructure throughout our entire country (since the entire US is falling apart) will begin to get fixed.
If they don't, the Tea Party will blame Obama for our crumbling infrastructure.
Too right!
Rosco, I'm not too familiar with Narragansett waterfront development but I think we need to be super careful about things like that. I've seen what's happened in the Carolinas and Florida where condos and houses have been built cheek by jowl across vast stretches of waterfront and it ain't pretty!!! You can no longer even see the water! We need to preserve what's so good about our state while further developing it.
We need to preserve what's so good about our state while further developing it.
Agreed...but never building or developing is not the answer. If you drive along 1A, as you head to Old Boston Neck Rd. the town has a "tree line" so know one can even see the ocean as you travel. There's nothing wrong with walkways, picnic area's, quaint, small, tasteful buildings that invite people to visit and spend a few dollars.
Quote:
If the Republicans let Obama's new Jobs bill pass through, all the crumbling infrastructure throughout our entire country (since the entire US is falling apart) will begin to get fixed.
I'm suspicious of this actually working, maybe in a "perfect world", but certainly not in this world. The money never seams to get to the right places without ton's of waste.
What should happen is...the banks that got "fat" on Obama dollars, must be forced to actually lend to regular folks, and small business again. I can't tell you how many people I speak to who are simply shut out of the game because of inability to gain operating capitol to invest. (similar to what Obama wants for the Government)
The word corporation must stop being "demonized." We must find a way to separate "ma and pa business" meaning small family owned business, from General Electric size business.
The very wealthy should be taxed, based on the fact of how many worker they directly employ.
example: friend A works on the stock market, he earns 6 million a year, for himself. His tax structure should differ from friend B who employs 125 people and earns similar dollars. Just simple idea's that we all know about.
[quote] If they don't, the Tea Party will blame Obama for our crumbling infrastructure. Of course, if the Federal Govt. used Rhode Island's shining example of a progressive tax system, maybe it'd be as well off as us fiscally speaking.
I doubt we'll hear "fiscal conservatives" talking up Rhode Island's credentials any time soon though.
Stop hating conservatives and the Tea party...there just people with a different opinions than yours. Most "politically thinking" people have many different opinions.
recently... I read the Lynch Papers, written 300 years ago on how to better control slaves. In a nut shell it said, pit the darker slaves against the lighter ones, the bigger against the smaller, men against women etc. Reason being, they will depend on "you" the owner, to guide them and "feed" them.
What I'm saying is, don't be pushed into that type of thinking. Don't just think it's right against left, everything the right says is wrong and all that the left says is correct. Thats just what our two parties want us to think. They want us to be pitted against each other.
It all will not work properly unless the "magic circle" is completed. It sounds simple but it is seldom carried out.
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