In celebrating the a…
In celebrating the amazing GDP growth last week, I said that Robert Kuttner’s lament that the states weren’t getting more federal money was probably premature, since a growing economy means more tax revenue without having to raise rates.

Here’s one sign that it’s happening.

[Georgia] State tax collections rose 6.1 percent in October, the third consecutive month of improvement for the first time in two and a half years, since early 2001.

October collections were up $62.7 million, led by big gains in sales and income taxes. For the first four months of the current 2004 fiscal year, revenues have climbed $185 million, or 4.7 percent.

The economy was in a slide when Bush took office, and once his tax cuts hit, they not only helped the consumer, but the states as well.

Filed under: Uncategorized

Like this post? Subscribe to my RSS feed and get loads more!