In the New Your Times online edition, yesterday (01 Oct, 2011) “Seeking Taxes, Romney Went After Business” (by Michael Barbaro) appeared, highlighting some of the ways Governor Romney’s administration went about closing deficits in the Massachusetts state budget.
The basis of the article is that Romney went after “loopholes” that businesses in the state enjoyed and both Romney and most of the Democrats claimed was not right and not fair. To me, this points out one of the greatest issues with politics, and the reporting of politics in America today.
You see, he ran for governor as a business turnaround artist and someone not afraid to “ask for jobs” for the state. By eliminating some of those “loopholes” (ever notice that it’s only a loophole when the other guy or company can take advantage and you can’t?), yes, in the short term, his administration was able to collect more revenue, but in the long run, it hasn’t made any difference because in 2010 Massachusetts still ranks as the WORST state in the Debt to GDP category with their debt equaling 9 percent of their GDP (debt to gdp chart).
Another measure of the state’s health could be Total Shortfall as Percent of FY2010 General Fund in which Massachusetts numbers are still alarmingly high at 20.4%. Total Shortfall chart can be found here, about halfway down page, along with several charts.
The lessons here are:
1) Take a close look at what a politician has done as well as what he/she says they will do. Preferably in government life, but if there is no record there, then business or private life will need to suffice.
2) The democratic party lines of “raise taxes” or “let’s make things fair” don’t work without actual budget cuts and real constraint on both the present and future budgets of a state or nation.
It’s been proven time and time again that politicians are always able to outspend any amount of taxes or fees that can be generated. Therefore, the way to personal prosperity and liberty and national freedom is the way George Washington, Thomas Jefferson, Ben Franklin and the rest of the Founding Fathers of the U.S. saw it, and that is for government to stay as small as possible, stay out of individual lives as much as possible and to stay vigilant in maintaining the financial viability, both present and future, of the country by being frugal with it’s money, not throwing it around in an effort to gain popularity and votes!
With any luck at all, whoever wins the 2012 presidential election and becomes Americas Next President will understand this completely, not try to buy a lot a votes with taxpayer money, not repay political favors with taxpayer funds, and will not lie to us on the campaign trail (I hope it’s not already too late for the last one!)
Let us know what you think by leaving your comment below!