The Oregon Legislature must, by law, come up with a balanced budget by July 10. That’s a problem. The state expects to pay out about $1.4 billion more in the coming two years than it will have in revenues coming in. 78 more words
Tags » Budget Deficit
Have you ever heard someone compare the public finances to personal finances? Have you ever heard the accusation that Labour ‘maxed out our credit card?’ Have you ever heard the claim that the Tories are ‘putting our finances back in order’? 653 more words
Is the Legislature inching toward a compromise deal that could result in a balanced budget for the state?
It’s possible, and if you’ve been following the Legislature, the shape of the compromise deal won’t be much of a surprise: It involves a version of a tax on Oregon companies’ sales, paired with cuts in state spending. 10 more words
I actually can’t take it anymore. It is economically illiterate and it is self-defeating and it has to stop. It is like someone lighting a fire, which is an inferno when the fire brigade arrives, and then the person who starts it runs around replacing the brigade’s water with oil, and fanning the flames, whilst screaming at the fire bridgade that they can’t believe the fire isn’t out. 570 more words
The Narendra Modi government of India is trying desperately to bring more people inside its tax net (sic) since it came to power 3 years ago e.g., they tried drastic measures like demonetization, making Aadhar card compulsory for filing IT-returns, linking it with bank accounts and PAN card etc. 512 more words