Good News ! The state’s hit it big. Again.
Sure, the news is grim on Wall Street and Main Street, too. But it’s raining dollars somewhere, namely Little Rock and, more specifically, a certain stretch of Woodlane with a replica of the U. S. Capitol on it.
The $ 540. 7 million collected in September cleared the forecast by $ 29 million, meaning the 2009 fiscal year is already showing a surplus of $ 63 million.
What was behind this latest surge of the fiscal variety ?
Individual income taxes are up $ 21 million from September 2007. Times are getting tough but the state’s still shoveling it in.
We’re all for conservative budgeting, think the world of the Revenue Stabilization Act, and strongly favor budget surpluses over deficits. But while budget surpluses are normal when the economy’s growing, when times are tough and getting tougher, they’re something else. Namely, unseemly.
Call it economic stimulus or good government or simple justice.
But when the government’s cashing in and citizens aren’t, it’s time for taxes to be cut.
ASAP.
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