State Tax Tax Coffers Are Filling Throughout the Land (Time for CAT Tax Repeal in Ohio)
The TaxProf Blog notes that state tax revenues for the 2nd quarter of 2005 vs. 2004 are up 13.3% nationally (original link at site is to a PDF at the Nelson Rockefeller Institute).
Must be the lousy economy (/sarcasm).
Some states are reaping a bonanza:
- Alaska, up 42%–This windfall should be able to pay for The $200 million Bridge to Nowhere (halfway through linked article), if Alaskans want it badly enough that they are willing to pay for it themselves (any bets?)
- New Jersey, up 28%
- North Carolina, up 28%
- West Virginia, up 25%
Ohio lags the national average increase, but is still up 9%. I suggest that this is enough to justify repealing the ridiculous CAT business gross-receipts tax that will go into effect next year. I don’t remember what CAT really stands for, and don’t really care, because as far as I’m concerned it should be called the Completely Anal Tax.
