From CLT: Your source for
Tuesday, July 11, 2006
Gabrieli Tax Plan
Not a good day to announce or rebut a tax plan, but
CLT must respond to Chris Gabrieli’s news release.
Gabrieli said "it is important to honor the voters’ decision to lower
the income tax rate, and to return a portion of the money gained as our
economy rebounds and revenues grow." Sweet of him. Let’s go over the
history one more time, for Mr. Gabrieli:
The state promises in 1989 that an income tax increase will be
"temporary." A decade of rebounding economy and growing revenues passes,
as the state spends itself into another fiscal crisis. Voters take
matters into their own hands and in 2000, order the state to restore the
income tax rate to 5 percent by 2003.
In 2006, the rate is still at 5.3% as the economy rebounds and revenues
grow. Chris Gabrieli says it is important to honor the voters’ decision,
when the state gets around to it, maybe by 2010 – twenty-one years after
the "temporary" increase, ten years after the voter mandate, after it
does a lot of other stuff, when the planets align and pigs fly.
Maybe voters should elect Chris Gabrieli, but not let him take office
for ten years, when the planets align, and pigs fly.
– 30 –