Boo Hoo Hoo, Wicomico and the State Revenue Shortfall

September 11, 2008 by Cato  
Filed under Economics, Fiscal Policy, Maryland, Maryland Politics, Taxes, Wicomico Politics

I’m sitting here at my desk listening to Wicomico County Executive Rick Pollitt talk to Bill Reddish on WICO-AM.  Woe is me!  Maryland Gov. Martin O’Malley has come clean on a massive revenue shortfall and Pollitt hopes that O’Malley won’t balance the state budget on the backs of localities.

Given that the revenue shortfall is being partially caused by O’Malley’s tax increases, AND Pollitt shilled for those tax increases, isn’t this just another example of “YOU REAP WHAT YOU SOW”?

I know that Democrats can’t grasp the concept of tax rate increases REDUCING tax receipts, but isn’t it about time for these folks to understand that Keynes’ General Theory is as flawed an economic theory as Marx’s Das Kapital?  Sorry, I almost forgot that they still believe in that one too.