Comments on: Perdue vetoes capital gains tax break

By: Matt G

Matt G — Wed, 13 May 2009 02:22:38 +0000

RE commenter Adam’s assertion that it’s hypocritical to oppose a Georgia cap gains cut on grounds of fiscal irresponsibility while supporting Obama’s deficit-growing policies, I disagree. Obama has pretty clearly chosen spending options that are, by and largely, stimulative. They’re explicitly designed to grow the economy in the short run, and that’s viewed as worth the price of running up deficits. By contrast, cutting the state capital gains tax isn’t going to have a short-term stimulative effect at all, and even in the longer run its impact is questionable. (Plus, any additional investment caused by a Georgia cap gains break could take place in Georgia or Alabama or China– it’s just not a very localized economic development strategy.) Put another way, if Obama decided to cut the capital gains tax in the name of stimulus, he’d be getting precisely the same criticisms the Georgia legislature has faced– and he’d deserve it.

By: justthefacts

justthefacts — Tue, 12 May 2009 21:24:58 +0000

whoops, its 24 states that have EITC.
Regarding foreclosures: many states that actually have consumer protection do not allow banks or lenders to start foreclosures after 30 days they didn’t receive a montly payment. the general assembly could have implemented similar protections but it didn’t. once you are late lenders can charge enormous late fees that keep one from catching up. These late fees can be capped as well, but they are not here in GA. many foreclosures are due to people who become ill or lose their job. foreclosing that happens here in GA is bad for the state, and not just about people not paying their bills. and yes, renters are being forced out when banks foreclose or an owner is forced to sell, often at a very low price, when with a little time they could get back on their feet. there’s a lot of blaming the little guy here in Georgia when a little bit of consumer protection would go a long way.

By: Jason

Jason — Tue, 12 May 2009 19:45:28 +0000

This is quite possibly the first time I have ever agreed with any decision by Sonny Perdue.

By: DaleC

DaleC — Tue, 12 May 2009 19:06:02 +0000

not paying your bills

“screwed out of houses by the bank or landlord ”

wow

By: justthefacts

justthefacts — Tue, 12 May 2009 18:51:00 +0000

It makes sense that Adam is confused because one can’t compare stimulus from the federal gov to the state government. GA must balance it’s budget each year. so if the bill’s sponsors wanted to cut taxes from the wealthiest 15%, they should have also cut public services that billion dollars. whereas the federal government works more like a business, for instance, if you have a landscaping business and want to branch into big homes, you would borrow money to buy a rider mower and pay it off with your new contracts. the federal gov is shoring up local governments, which the state can’t do very easily. now, GA could have raised the cigarette tax, gotten rid of the investment waiver, and many other things but the republican senate and house didn’t. the sponsors are a bunch of wolves in sheeps’ clothing. if they really wanted to help Georgians by passing tax cuts they’d have passed the ETIC, which we’re one of 9 states that doesn’t have it, and given a renter’s tax credit so those people getting screwed out of houses by the bank or landlord could get some relief. instead they gave credits to people wealthy enough to afford a new mortgage in this economy and plenty of preferential business breaks.

By: Adam

Adam — Tue, 12 May 2009 16:45:55 +0000

Really I’m just confused. From the tone of this article, Scott, you seem outraged that a political party could pass a bill that is fiscally irresponsible.

But – and I’m guessing here – I’m sure you’re a huge proponent of the Obama administration’s trillion-dollar deficit. That’s the definition of fiscally irresponsible, but you still called him the “coolest president since JFK.”

Could it be – and I’m guessing again – that you support Democratic fiscal irresponsibility at the national level, but are hyper-critical of Republican fiscal irresponsibility at the state level?