Give It Back
The principles of fiscal prudence and responsible government would suggest that whenever a government runs a surplus, raising more in taxes than it spends, it should either pay down debt or reduce taxes or give the money back to the citizens. Rarely is this ever seen. The norm in such circumstances is for governments to keep taxes high and dream up new ways to spend taxpayers money, whilst turning a blind eye to government debt.
Another Reason to Move to Texas: Gov. Perry Calls on Lawmakers to Return Unused Tax Revenue to TaxpayersJan. 29, 2013 5:34pmJason HowertonAUSTIN, Texas (TheBlaze/AP) — Gov. Rick Perry presented a glowing assessment of the Texas economy Tuesday and said there was more than enough money in the state’s Rainy Day fund for a one-time, $3.7 billion-investment in water and transportation upgrades while also cutting taxes.The Republican governor, who for weeks has called on the Legislature to hold down government spending even with the state’s economy booming, used his biennial State of the State speech Tuesday in the House chamber to call for a one-time investment in infrastructure he said is needed to ensure a high quality of life. The Texas constitution calls for a percentage of oil and gas revenues to go into the Rainy Day Fund, which is nearing its constitutional cap.“Our bank balance is healthy, our economy is growing, our future is limitless,” Perry said.Perry also called on lawmakers to amend the Texas Constitution to allow the state to return tax money it collects but doesn’t spend to its citizens. “Today, I’m calling for a mechanism to be put in place so when we do bring in more than we need, we’ll have the option of returning tax money directly to the people who paid it,” the governor said. “Currently, that’s not something our constitution allows. We need to fix that.” . . .Tuesday marks the seventh time Perry has given the State of the State since taking over for George W. Bush as governor in December 2000. Two years ago, he declared there would be “no sacred cows” immune to deep budget cuts as the state struggled with a $27 billion budget deficit amid an economy still feeling the effects of The Great Recession.Lawmakers responded by passing deep cuts across-the-board, including slashing $5.4 billion from public schools.“The tough decisions we faced last session tested our resolve and our dedication to the principles that brought us here,” Perry said Tuesday. “In the end, we remained dedicated to those principles, holding the line on taxes, spending within our means and making the tough decisions separating wants from needs.”