by Mark Moore, Arkansas Watch: Families are hurting in Arkansas, but our state government is sitting on piles of extra money- this year alone they have collected $127 million more than they estimated they would. In addition, the natural gas industry is about to take off in the natural state, and it is bringing more jobs and more dollars and more economic activity with it. A U of A study indicates that an expanding gas industry will generate an additional $1.8 BILLION tax dollars for state government over the next five years, even without a tax rate increase.State government is raking in money left and right, and the future looks even better for them. Increased economic activity from the coming natural gas boom will mean increased fuel tax revenues, increased sales tax revenues, increased income tax revenues, and increased property tax revenues (to the tune of $1.8 billion more over then next five years, even if they don't raise any tax rates). That is a lot of money for schools and roads and everybody else in the state with their hand out. Still, it does not appear to be enough for Governor Mike Beebe and the Arkansas legislature. They are about to call a special session to do what? RAISE TAXES! . . .
So with all of that bonanza of dollars flowing in, how much of it does Governor Mike Beebe and your Arkansas legislature want to share with you? Why actually, none. They want to spend it all themselves without giving a single penny of tax relief to any Arkansas family . . . [Read More]
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