Thanks, Gov Perry: TX Revenues Bounce Back!

The question remains... do Americans want a president who talks pretty... or one who's capable of making things better?

WTG, Gov Perry! You're the man!!!!

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Texas state tax revenues bounce back
by CHRIS TOMLINSON
Associated Press
October 5, 2011

AUSTIN — Texas tax revenues have bounced back to levels nearly equal to pre-recession levels indicating that the economy is in recovery, the state's chief revenue estimator said Wednesday.

John Heleman said taxes on retail sales, motor vehicles and oil production are near 2008 levels, the last year before the recession. Only natural gas taxes are lagging, mostly due to low prices, he said during a quarterly briefing to the state House Ways and Means committee.

"The sales tax collection in 2008 was our all-time high and then it went down in 2009," Heleman told the committee. "It's back up in 2011, and we're essentially back to where we were in 2008 in terms of sales tax collections."

The state's Rainy Day Fund, which is financed with oil and gas revenues, is expected to reach roughly $7 billion by the next legislative session in 2013, Heleman added.

The state's business tax, also known as the franchise tax, also is recovering, though not yet to 2008 levels. Heleman said the Legislature's decision to raise the exemption level to $1 million from $300,000 earlier this year means that more than 40,000 businesses will no longer have to pay the tax. That will cost the state about $150 million in lost revenues over the next two years.

Oil production in the state has remained steady over the last 20 years, with a slight increase in recent months, Heleman said. But the price of oil has varied dramatically, resulting in steep changes in tax collections. He said high prices for oil have benefited the state's treasury, returning state income from oil to near 2008 levels.

Natural gas prices, though, remain low and revenue from those wells has not returned to 2008 levels and probably will not in the foreseeable future, he added.

Committee Chairman Harvey Hilderbran, R-Kerrville, said the committee will meet again next month to discuss the business tax, which was created in 2006 to help lower property taxes. That tax has never performed as well as expected, creating a recurring deficit every two years. Hilderbran said the committee will ask experts to delve deeper into the tax to see what can be done to make it more effective.

 

I guess you couldnt count Perry out yet.

He may have lost the tea party vote, but im sure he garnered support from far more new hispanic voters.

 

What exactly did Perry do?

 

It is indeed a mystery.

To date not a single person, including Perry supporters, can name a single policy that he has enacted that woudl explain the alleged great economy in Texas.

Not a single person.

Anyone care to take the Pepsi challenge here and try?

In my opinion, what seems to fuel Perry's support is the same thing that fuel's Palin's support. he makes folks of, well let's just call it average intelligence, feel better about themselves. After all , he is just as wrapped up in his cult nonsense and he done shot himself a coyote one time, so he must be brilliant. They see him and say, "Yes, I work a menial job now and I am just as smart as the governor of Texas".

 

Can't rule out anybody who raises $17 million in 7 weeks and has accomplishments like this under his belt!

It's great news for the state... regardless of campaign issues.

 

Oh, he has accomplishments? What are they? What has he done to shape the fine state of Texas into what it is today? Name some for us.

 

Post a financial update from your state and we'll talk about it then.

 

Texas Exceptionalism could be translated into American Exceptuialism !

 

LOL, sounds like you're talking about Obama supporters here.

Proof's in the pudding, TFM. Results speak so much louder than empty words.

 

No.

You touted his accomplishments. What are they? Can you defend your statements with fact? Can you point to any? can you be responsible for your previous posts and attempt to support them?

This is an argument you should not have entered. To date, no one can name a single killer app that they can attribute to Perry for the alleged Texas economy.

So let's see it. Show the world how wrong i am. Show the world how your argument can trump mine. Let's see those accomplishments.

 

Texas state tax revenues bounce back
by CHRIS TOMLINSON
Associated Press
October 5, 2011

AUSTIN — Texas tax revenues have bounced back to levels nearly equal to pre-recession levels indicating that the economy is in recovery, the state's chief revenue estimator said Wednesday.

John Heleman said taxes on retail sales, motor vehicles and oil production are near 2008 levels, the last year before the recession. Only natural gas taxes are lagging, mostly due to low prices, he said during a quarterly briefing to the state House Ways and Means committee.

"The sales tax collection in 2008 was our all-time high and then it went down in 2009," Heleman told the committee. "It's back up in 2011, and we're essentially back to where we were in 2008 in terms of sales tax collections."

The state's Rainy Day Fund, which is financed with oil and gas revenues, is expected to reach roughly $7 billion by the next legislative session in 2013, Heleman added.

The state's business tax, also known as the franchise tax, also is recovering, though not yet to 2008 levels. Heleman said the Legislature's decision to raise the exemption level to $1 million from $300,000 earlier this year means that more than 40,000 businesses will no longer have to pay the tax. That will cost the state about $150 million in lost revenues over the next two years.

Oil production in the state has remained steady over the last 20 years, with a slight increase in recent months, Heleman said. But the price of oil has varied dramatically, resulting in steep changes in tax collections. He said high prices for oil have benefited the state's treasury, returning state income from oil to near 2008 levels.

Natural gas prices, though, remain low and revenue from those wells has not returned to 2008 levels and probably will not in the foreseeable future, he added.

Committee Chairman Harvey Hilderbran, R-Kerrville, said the committee will meet again next month to discuss the business tax, which was created in 2006 to help lower property taxes. That tax has never performed as well as expected, creating a recurring deficit every two years. Hilderbran said the committee will ask experts to delve deeper into the tax to see what can be done to make it more effective.
__________________

Your turn.

 

Bwahahahahahah!

Awesome. Utterly awesome. Unable to defend your statements you lash out in reflexive outrage and attempt to divert to the know.

Can you support your argument or am I to assume that you can not name these great accomplishments by Perry?

We all know, you, I, and everyone else that your post will know. You know why? There are none. Nothing. You made a statement that has no basis in reality and instead is nothing more than sheer partisanship sans the remotest fact.

 

Well, let's see. He filled a budget gap with federal stimulus funds and then (*)(*)(*)(*)(*)ed about the stimulus.

The Texas taxation plan offloads the taxes from the wealthy square on the backs of those who have to scrape together enough money to buy bread & butter.

Deregulation of energy has resulted in higher electric costs.

He cut the budget of firefighters by 75% even as they were battling the wildfires as they ravaged the state. Then he (*)(*)(*)(*)(*)ed because the federal government wasn't doing enough.

I'm sure there's more...

 

My turn what? To point out that again you failed to name Perry's accomplishments? You failed to point out a single policy of his that might account for Texas's great fortune in minimum wage jobs?

My turn what?

You made a statement with zero basis in reality.

 

No, no, no! You are only supposed to say good things about him!

 

The OP commentary.

What has Perry done to make things better? Anyone? Anyone care to through a lifeline to the sinking argument here?

 

HE'S THE GOVERNOR! WTF do you mean 'what has he done?' Really, TFM, playing dumb doesn't become you.

Here, let me help:

I'm sure the whole country is relieved Jerry Brown isn't running for president. Might be the only one out there who'd actually be WORSE than Obama.

 

Made two my Brothers there Rich & provided a stable place for my Mom & two sisters and the 9 Grand Children & almost 30 Great Gran Children (As opposed to our sorry state ...

 

THINK! "Think for myself"; He didn't do so many things that the Federal and many other States have been doing for years, it would take a book to tell all, ten years is a long time. Government can only create the environment/conditions for business, to move onto or expand. Do you know there is NO Corporate Tax in Texas, compared to 9% on California and those so called under paid workers pay no State Income Taxes at all or go through the quarterly/yearly cost to file.

 

Pointing out how much other states suck doesnt prove anything. The State of Texas should be renamed the "Explotation State". Perry hasnt done anything for the State..

the State financial policy was designed to lure business at the expense of the Taxpayer....
its why the debt in Texas has tripled since Perry took over..

why schools are the worst funded...

why Texas has one of the lowest hS graduation rates in the country...

Why texas has the among the lowest paid workforces and the highest % of (healthcare)uninsured....

why Fracking all over Texas is creating an enviromental disaster and wasting precious water at an alarming rate... in a drought stricken State..

We could have had a dancing chicken in Perry's place and had the same results. Fossil fuel industry, very little environmental protection, Property tax State, and a large amount of low wage labor drives the Texas economy.

Texas is doing fine.. in spite of Perry.. its easy to look good when you only post your good numbers.. and ignore what those numbers are costing the most vulnerable among us...

Texas is doing great... if your a shortsighted moron.

 

Please do not call me names. I don't call you names and I expect the same thing in return.

Sorry, you said he has accomplishments. What are they? What has he done that would indicate he had anythign to do with the Texas economy?

In your OP you said he was capable of making things better. What has he done in Texas that has made things better.

 

Perry made your brothers rich? What did he do, give them money?

 

You may not call names.. but I call morons when I see them... idiots praise Perry for his failings.. they just dont know it yet.. because they are benefitting in the very short term. If anything Perry has failed Texas and allowed for abuse of the people and the environment.

Perry may as well be a Chinese politician.

 

That is the reason why liberals are upset at this news.

 

Thats a stretch of logic at best. Anybody with any sense will call bullshiat on Perry being a political genius. He was a coporatist lackey in a State with no Income Tax and happens to be sitting on Fossil fuels.

He raised 17 million lol So far his biggest contributors are people he paid off with Taxpayer money.. his biggest contributors are

Energy (oil) for about 6 million
Finance, Insurance and realestate about 7 million

and his assorted taxpayer funded payouts that netted him nice returns



Yep.. this guy is exactly what we need... more of the same. This chart here tracking Perry's payoffs. was provided and researched by Sarah Palin!!!... wow.. I never would have thought I would be be saying .. good job Sarah.. but credit where credit is due.. gotta wonder what her motivations are though...