Susan Combs, Texas’s comptroller, dropped an interesting piece of news in an interview today: The state’s sales-tax collections this year will exceed $24 billion — an all-time high. Revenues have been up for 30 months in a row now. I have had many tussles with conservatives who in my view take too simplistic a view of the relationship between tax rates and economic growth, but here is a very good example of adding to revenue without raising taxes. Strong growth makes all of the fiscal math a great deal easier.
Oil production in TX had averaged just over 1 million bpd for 2004 thru 2008. The first horizontal oil well with hydraulic fracturing was in late 2008. Growth has been exponential and should pass 2 million bpd by when the numbers are reported for Sept.
With the development of oil has come pipelines, separations facilities, modification of refineries to capitalize on the light sweet crude, and port and rail facilities to move oil or minimally refine crude to full scale refineries inside and outside the country. The really big boom is coming as chemical and plastic companies build world scale plants to use the low cost raw material and energy.
Texas was founded in its independence, by lawyers. Crony capitalism, crony everything-ism existed for the first 40 yrs of statehood, and when the carpetbaggers were run out in 1876, Texas wrote an impossibly unworkable constitution, one so complex that nobody can , as of this date , claim to understand its mysteries. But crooks of all forms are removed of any apprehensions they may have.The citizens decide and that is that. The Legislature meets once every two yrs,....the constitution is so complex it keeps the lawyers busy....and we all live in the heat together, and it's a fine place to live. We still have lots of lawyers....and loser pay lawsuit laws keep things even.
Plus, #4, we have tort reform laws that have put a lid on damage awards.
Yes, oil production has a new life with fracking, but don't forget our ongoing natural gas industry. Those wells keep pumping, too. One of the wells on our ranch is more than 20 years old, still producing.
About $20 billion of that was generated from liquor sales...watching this election cycle has driven a lot of Texans to drink and now we're all "Greeks" at the frat house in the Electoral College of 2012 down here.
Not one national candidate has crossed the Red River all year, so we've been able to skip the lectures of political gasbags like Joe Biden and we just party on! And we are chillin' the bubbly for Nov. 6!
SHAME SHAME on Kevin Williamson of NRO for not understanding the relationship between growth and revenues and tax rates. What is he doing writing for NRO if he doesn't get that. Oh, wait...it is NRO...
I didn't find the article "snotty", "snarky" or inviting an accusation of "shame" on Williamson. Texas has made choices. Yes, everyone might not think sales taxes are the best way, but at least EVERYONE PAYS THEM. There are states with both a state income tax and heavy sales taxes, but Texas is not one of them.
#9 - Sales taxes are the only 'fair' taxes. As Stormy says - Everyone pays - repeat, everyone. Income taxes and the reporting of one's income is heinous...and a waste of time. Schedule this, deduction that, credit if you do this but not that. Get rid of income taxes. Tax us when we spend, not when we earn.
Just to point out that there is fairness in a sales tax, Texas does not tax essential items: food, rent, medical, prescriptions and a few other items. There is a sales tax holiday during the year when you can buy clothes and school supplies that cost less than $100 (I think that is the limit) without any sales tax. So all the illegals in Texas pay some tax. And the legal citizens engaged in illegal activities also pay tax when they buy things.
The Advocate reports that the Louisiana governor Bobby Jindal´s office will cancel food stamp benefits for anyone who participated in a fraud and shopping spree catalyzed by an EBT malfunction. More than 12,000 people were sent an insufficient funds notice when the problem with the EBT cards was fixed on Oct. 12; those who transgressed may lose their EBT cards for a year. Suzy Sonnier, the secretary of state at the Department of Children and Family Services, released a statement saying: "We must protect the program for those who receive and use their benefits appropriately according to the law. We
Senator Marco Rubio began this year amid buzz that he was the logical choice to win the Republican presidential nomination in 2016. He is likely to finish it on a decidedly lower note, partly removed from the national spotlight, eclipsed by the rising star from Texas, Ted Cruz. Last week, attendees at the conservative Values Voter Summit in Washington, D.C., overwhelmingly chose Cruz as their preferred GOP candidate for 2016. The freshman senator blew away the competition with 42 percent of the vote. Rubio, meanwhile, placed fifth, behind Senator Rand Paul, political novice Dr. Ben Carson, and unsuccessful 2012 candidate
A billboard showing a tattooed Jesus Christ has stirred up quite a bit of buzz in the heart of the Bible Belt. The ad, which is the work of the website Jesustattoo.org, popped up along a West Lubbock, Texas, highway, and it’s got people talking. It shows a man, ostensibly Jesus Christ, with outstretched arms tattooed with such words as “Outcast,” “Addicted, “Jealous.” “I don’t like the picture. I think it’s very derogatory,” a local-area resident told the CBS affiliate KEYE-TV. On the website, a video casts Jesus as a tattoo artist and shows several tattooed individuals approaching him to
HOUSTON — Morgan Weber grew up eating poppy-seed kolaches baked by his Czech grandmother, who honed her technique on a wood stove. Kolaches, soft pastries of yeasted dough with a divot in the center, traditionally filled with sweetened cheese or fruit, are a humble link to the Old World. But in the Revival Market in this city’s Heights neighborhood, Mr. Weber and his business partner, Ryan Pera, the market’s chef, serve sweet and savory pastries that are decidedly American: kolaches laden with satsuma oranges or filled with strawberries and ricotta cheese, and savory versions girded with house-made sausages poached in
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VATICAN CITY (AP) — Pope Francis has warned that the Catholic Church´s moral structure might "fall like a house of cards" if it doesn´t balance its divisive rules about abortion, gays and contraception with the greater need to make the church a merciful, more welcoming place for all. Six months into his papacy, Francis set out his vision for the church and his priorities as pope in a remarkably lengthy and self-critical interview with La Civilta Cattolica, the Italian Jesuit magazine. It was published simultaneously Thursday in Jesuit journals in 16 countries, including America magazine in the U.S. In the
On the eve of the 12th anniversary of the 9/11 terrorist attacks, Barack Obama made the strongest possible case for the use of force against Bashar Assad’s Syrian regime. But it wasn’t a very strong case. Indeed, it was built on a false premise: “We can stop children from being gassed to death,” he said, after he summoned grisly images of kids writhing and foaming at the mouth and then dying on hospital floors. Does he really think we can do that with a limited military strike—or the rather tenuous course of diplomacy now being pursued? We might not be
On his way to the podium at the memorial ceremony for former South African president Nelson Mandela, President Obama walked down the line of dignitaries, greeting other leaders there to pay their respects. Among the hands shaken: that of Cuban leader Raul Castro. Obama neither made a special effort to shake Castro’s hand nor to avoid him. A snub might have been awkward: In his speech, Obama praised Mandela’s “greatest gift” as “his recognition that we are all bound together in ways that can be invisible to the eye; that there is a oneness to humanity; that we achieve ourselves by
The Obama State Department has finally released a second round of photos revealing the harrowing devastation wrought by a terrorist attack on the U.S. Consulate in Benghazi on Sept. 11, 2012. The new photographs depict rampant damage to the consulate. They show charred walls, smoldering fires, Arabic graffiti defacing exterior walls, and scattered debris throughout. The extent of the damage would lead any reasonably serious person to conclude that this was a cold, calculated attack, carefully coordinated to mark the 11th anniversary of Sept. 11, 2001. Unfortunately for the American people, the Obama-Clinton-Rice cabal that led to the Benghazi cover-up was
A black fashion student says he was brutally attacked by a gang of Hasidic men who shouted anti-gay slurs at him while he was walking through Williamsburg after a night of partying, the Daily News has learned. Taj Patterson, 22, was headed home to Fort Greene around 4:30 a.m. on Dec. 1 when he says more than a dozen ultra-Orthodox Jewish men began assaulting him on Flushing Ave. and yelling, “Stay down, f----t!”
A “presidential selfie” featuring President Barack Obama, British Prime Minister David Cameron, and Denmark’s Prime Minister Helle Thorning-Schmidt at Nelson Mandela’s memorial service began making the rounds this morning, but it’s the person not included in the frame who caught everyone’s attention: As anyone with two eyes and a Twitter account has noticed, Michelle Obama does not appear amused. Of course, though a picture says a thousand words, not all of those words are necessarily true. FLOTUS might not have even known the photo was taking place. Or she could disapprove of funeral selfies. Either way.
Just how much do many Hollywood liberals hate conservatives? In an interview with Playboy, Ben Affleck said, "When I watch a guy [on film] I know is a big Republican, part of me thinks, I probably wouldn’t like this person if I met him": PLAYBOY: You developed a political profile campaigning for presidential candidates Al Gore, John Kerry and Barack Obama. How did that come about? AFFLECK: I grew up in a house with a mother who was a teacher and a Freedom Rider—very left-wing Democrats living in a heterogeneous working-class neighborhood. I picked up a lot of those values there, and I
MSNBC host Melissa Harris-Perry opened her program over the weekend with a commentary about the Affordable Care Act’s colloquial moniker: “Obamacare.” She said that the word was originally created as a “derogatory term,” designed by white men as a way to delegitimize President Barack Obama and his achievement. However, she said that the term will soon be synonymous with all of Obama’s accomplishments and she urged her audience to use the term with pride. “I want to talk today about a controversial word. It’s a word that has been with us for years, and like it or not, it’s indelibly
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