Friday, May 27, 2011

State revenues on the upswing?

There's a great chart over at Infectious Greed covering the change in state tax revenues in 2011 vs 2010. Clearly, the boom in corporate profits has helped offset any weakness in personal state income tax collections. It's unclear how long this trend will last or if it will ease the budget process for states next year but so far, so good, as most state tax collections are up (particularly oil rich states like Alaska and North Dakota which are up over 215% and 39% respectively).

The question is: will the governors and legislatures act responsibly with this new windfall or will they rush to spend it as fast as possible? With major elections coming 2012 I think we all know the answer to that one.

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For anyone that has ever had the extreme displeasure of dealing with Time Warner Cable, I offer up the funniest letter you'll read today. This guy took out a full page ad in two local newspapers to run this letter. It is very, very funny stuff, but don't click thru if you have sensitive eyes or an aversion to HBO-style language :)

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Finally, I guess we can be thankfully that at least we don't live on Long Island. LIPA (the Long Island Power Authority) is making lots of friends this Memorial Day weekend by charging a local American Legion post $5 per pole to hang American flags in honor of a fallen soldier from Shelter Island.

Cheers!

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