|
IBD? The same IBD who claimed that Stephen Hawking would've died had he been raised in the UK?
I do appreciate their tricky use of numbers. For instance, fiscal year 2005: begins in 2004, the same year Jersey enacted their new tax. Do you think they know how much income tax Jersey brought in prior to the implementation of their millionaires tax? Me neither. It probably would have been useful as a comparison to how much they brought in after the tax was implemented.
As for revenue shortfalls, the revenues in my home state of Minnesota have also fallen far below projections (especially if you compare them with pre worldwide financial meltdown projections) and over the last two terms of our governor our tax policy has taken a hard right turn. There's this little thing called a global economic downturn that seems to be having a negative effect on tax revenues. Perhaps IBD has heard of it. The fact that they don't take this into account in their discussion of revenue shortfalls seems a bit odd.
I know of one rich person who promised to leave NY if they enacted their new tax and he has yet to follow through: Rush Limbaugh.
Now, I'm not an econ guy, and I had to look up fiscal year start/end times because honestly that shit baffles me, so I recognize that my analysis might be incorrect. But as someone who recalls IBD's laughable Stephen Hawking references, I recognize that it's just as possible that they don't have any clue what the fuck they're talking about.
|