Wyoming Liberty Group
The state of Wyoming is wrestling with the growing gap between state spending and state revenue. Fortunately during its last meeting, Wyoming’s Revenue Committee showed an understanding of the effects of a tax increase on the fragile Wyoming economy. The committee discussed the issue of declining revenue for local governments and two options to fill the gap. Both tax grabs got little traction. What state politicians and taxpayers must now demand is local government reform.
- Revenue shortfall highlights danger of one group paying for the benefits of another.
In its latest meeting, Wyoming’s legislative Revenue Committee discussed how to close the gap between state spending and state revenue for school capital construction. The bonanza funding the building blowout fizzled away, so what to do? Hike taxes to continue spending as usual or look for ways to spend less? As no one on the committee wanted to appear to be in favor of tax hikes, the discussion turned to the only viable option—spending reform. Too bad it took a crisis for legislators to focus on responsible spending.
In Wyoming, some politicians are looking high and low for ways to take your money, especially if they can make it look like someone else is slipping his hand into your pocket. One way that popped up during a recent Revenue Committee meeting is a tax on Internet retail sales. Proponents justify this tax grab in two ways. First, the need for more tax revenue to fund the state budget shortfall and second, the notion that hard-pressed Main Street businesses can’t escape collecting the tax so taxing Internet sales would level the playing field. However, government has a spending problem, not a revenue problem. An Internet sales tax won’t do much for the revenue shortfall and if government really cared about Main Street retailers, they would reduce their tax burden instead of extending the dead hand of government to the Internet.
Maureen Bader and John Birbari from KVOW Riverton Radio talk about the revenue shortfall and what the Revenue Committee may do about it. If those who think a government bloated by a decade of mineral tax revenue windfall get their way, grab your wallet and run for the hills!
As minerals industry tax revenue plummets, politicans face a choice. Cut spending or raise taxes. What is Wyoming's Revenue Committee talking about - you guessed it - Tax Hikes! But shifting the burden of a bloated government to the people of Wyoming will only make matters worse. It is time to cut government spending back to a level remaining taxpayers are willing and able to fund.