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Thread: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108 mill

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    Never said there was a law for him to do either. I simply said he is not acting fiscal when he gives back revenue to borrow and then has to pay extra on interest payments while adding to the debt.
    So, you feel the same way about every budget Obama has set forth?

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    Never said there was a law for him to do either. I simply said he is not acting fiscal when he gives back revenue to borrow and then has to pay extra on interest payments while adding to the debt.
    Where do you get this stuff?

    Walker isn't borrowing to pay for tax cuts and paying extra interest while adding to the debt. That's what Washington does routinely, an example being Obama's payroll tax holiday. As I read the OP, Walker is deferring the payment on the debt for 2 years, accumulating $1.1 million in interest, which he will budget to pay along with the deferred debt payment, within the 2 years. There will be no additions to the debt. And hey, the taxpayers get to keep almost $600 million in tax savings last year, this year, next year, etc. Seems like a pretty great investment - $1.1 million in interest for $trillions in tax savings.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by clownboy View Post
    So, you feel the same way about every budget Obama has set forth?
    If he approves of tax cuts while adding to the debt, he is not fiscal.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    Fiscal conservatives can do either. What they don't do is borrow and add interest onto more debt after giving revenue back to appease those who put them into office.
    Other than debenturing capital/infrastructure improvements, what is Walker borrowing? Did you pay cash for your house or get a mortgage?
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by CanadaJohn View Post
    Where do you get this stuff?

    Walker isn't borrowing to pay for tax cuts and paying extra interest while adding to the debt. That's what Washington does routinely, an example being Obama's payroll tax holiday. As I read the OP, Walker is deferring the payment on the debt for 2 years, accumulating $1.1 million in interest, which he will budget to pay along with the deferred debt payment, within the 2 years. There will be no additions to the debt. And hey, the taxpayers get to keep almost $600 million in tax savings last year, this year, next year, etc. Seems like a pretty great investment - $1.1 million in interest for $trillions in tax savings.
    Um, Walker did add to the debt when he could have paid his new expenditures with the extra revenue he had instead of adding to the debt. This will only add on extra interest to the payment. That is not saving anything.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by CanadaJohn View Post
    Other than debenturing capital/infrastructure improvements, what is Walker borrowing? Did you pay cash for your house or get a mortgage?
    I can tell you 5.26 percent of general fund revenues will be used to pay off bonds. That exceeds the state’s historical target, which is to allocate no more than 4 percent of general fund revenues to debt payments.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    I can tell you 5.26 percent of general fund revenues will be used to pay off bonds. That exceeds the state’s historical target, which is to allocate no more than 4 percent of general fund revenues to debt payments.
    The bond payments will be made and the public has received money also, so is there a problem like many people hoped there would be?

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    I can tell you 5.26 percent of general fund revenues will be used to pay off bonds. That exceeds the state’s historical target, which is to allocate no more than 4 percent of general fund revenues to debt payments.
    Well, maybe, historically liberal Wisconsin hasn't been keeping up with repairs and new building of its State infrastructure. They wouldn't be alone. Governments of all stripes, here in Canada as well, have avoided doing this work for far too long. Did Governor Walker issue all those debentures or his liberal predecessors? What's historical? When Governor Walker took office in 2011, what was the percentage? For that matter, what does the percentage matter? Isn't 5.26% of a much smaller budget better than 4% of an ever increasing budget?

    You'll find that conservatives in Washington are quite willing to join Obama in infrastructure spending and to increase the debt to do so. That's what the majority of Obama's almost $1 trillion stimulus package was supposed to do back in 2009 - too bad he didn't use the stimulus package in the manner it was drafted.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by rabbitcaebannog View Post
    Using Ad Hominem and then making up a strawman is not really a good debate tactic.

    btw, there is no law that says a governor must give revenue back to the tax payers and borrow instead.
    There are plenty of laws about what state governments can and cant do with the monies they bring in depending on the pockets and kinds of dollars they are. Wisconsin has Special Fund, General Fund, Federal Funds and Bond sales. All of those have mandated program areas they can be spent on.

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    Re: Scott Walker cut $541 million in taxes last year. Now his state will miss a $108

    Quote Originally Posted by leoborn View Post
    The bond payments will be made and the public has received money also, so is there a problem like many people hoped there would be?
    Point is what he did was far from fiscal. You are paying interest in order to receive that revenue back.

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