I admit I'm no budget guru here, but, I wonder how much it would help the state's finances if Val Kilmer were to pay his back taxes? (For the record, the taxes he allegedly owes are federal, but there are many others who haven't paid state taxes...)
Or, if the Capitol hallways weren't receiving all new carpeting right now? (Looks nice, by the way.)
Or, if the state actually had a true hiring freeze in place?
Do you have ideas on where the state can save? Want to report wasteful spending? Send them to me for a possible future story.
Let's be clear. We don't have a budget crisis, we have a REVENUE crisis. NM cut taxes by a billion dollars over the last few years, twice the amount of the budget deficit. We've already cut education and underfunded health care. Now it's time to put those tax cuts on the table to restore the revenue we need instead of balancing the budget on the backs of our children.
ReplyDeleteWe should also look at reforming corporate taxes to help New Mexico businesses. We require New Mexico companies to pay corporate taxes, but out-of-state corporations are not required to pay a dime. Why are we favoring the big out-of-state corporations while our own New Mexico businesses struggle? It's time to level the playing field and require the out-of-state corporations to pay their fair share. The new revenue could be used to make up some of the revenue shortfall.
Reign in state government spending on huge corporate welfare including Tax Increment Development Districts. The state is giving away future taxpayer revenue to private real estate development deals and the market is a bust! We're losing hundreds of millions in these shams in the name of "economic development" (which is a lie) that could otherwise be used to fund education and public services. We're not getting any good paying long term jobs in return for them either. How much did we lose with Eclipse Aviation? And what happened with the Journal's scrutiny over the Guv's road bond interest swap schemes and hedge fund investment schemes that are costing the state hundreds of millions? Can't our state govmt. once again reign in spending by getting out of these types of funding schemes and invest taxpayer money more responsibly?
ReplyDeleteI am less concerned with the money we are spending, than I am with the money that is being wasted by the culture of corruption and incompetence in state government.
ReplyDeleteState Auditor Hector Balderas estimates the waste at 3-5% of total spending, or, $180-$300M every year. I find it hard to believe the waste is that little - I wouldn't be surprised to find it is closer to 10-20%, Not to mention the ineffectiveness of government run by political appointees with little or nothing in the way of the necessary skill sets to do their jobs effectively and efficiently.