Their so sure of it, that their willing to tap into a budget reserve fund of 600 million and up to a billion dollars from the Lawton Chiles Endowment. This endowment was to be used on future children’s health benefits from a tobacco settlement. Problems continue to stem from the dismal economic outlook of Florida. They are now projecting that the 2009-10 will see a revenue shortfall of 3.5 billion with no end in sight. This new figure comes about as state economists predicted Florida would lose another 1.8 billion than previously expected from revenue collections.
State leaders seem inept at plugging the holes, but offer no suggestions on how to correct the situation. Don’t get me wrong, I’m just a layman but wouldn’t it make much more sense to ease property taxes around the state with say a 5 billion dollar cut that would result in an immediate 20-25 percent reduction. This would give Floridians a good amount of disposable income that could be used to jump start our economy. It would also percolate through the housing industry by making it more affordable to live here and own real estate. I know this sounds irresponsible with the lean times the Department of Revenue is going through, but after all we have been living in high times until recently. Budgets have gone through the roof, its time we start cutting taxes in order to stimulate new growth. The old adage I think works here, “No pain, no gain”.
Instead of milking every dollar out of our population for things we can not afford, why not make it easier with a tax cut. Right now Florida has the lowest consumer confidence level of all time at 57. Isn’t it time our leaders start thinking outside the box rather than hunkering down waiting for the storm to end. David R. Simpson