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Name: Ed Lilly
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Name: Disgruntled in NY
Email: disgruntled.blogger1@gmail.com
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Finally a GOOD idea from Massachusetts

In the spirit of true bipartisanship, I think that were I in the Massachusetts state legislature, I would have no problem casting a vote for the plan outlined by Prof. Paul Caron at his taxprof blog (h/t Instapundit):

Massachusetts lawmakers desperate for additional revenue are eyeing the endowments of deep-pocketed private colleges to bolster the state's coffers by more than $1 billion a year, asserting that the schools' rising fortunes undercut their nonprofit status.

Legislators have asked state finance officials to study a plan that would impose a 2.5% annual assessment on colleges with endowments over $1 billion, an amount now exceeded by nine Massachusetts institutions.


Now, if only we could Barack Obama's pastor to recognize this type of scenario as a true instance of chickens coming home to roost, we'd be getting somewhere.


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Whatever can be done to address a crippling 1% revenue shortfall?!

The weekly local paper in Lawrence Township, the Lawrence Ledger, ran a front page story on Thursday explaining the Township Council has been "stunned by the loss of $391,000 in state aid..."  Certainly, I can think of plenty of things I could do with a nice chunk of change like that.  But reading the rest of the sentence only serves to make my blood boil once again as I ponder the effectiveness and overall competence of elected officials.  For the remainder of the sentence explains that "Township Council has directed Municipal Manager Richard Krawczun to re-examine the proposed $39.9 million budget for 2008."

Wow.  The Township Council is running things so tightly that they are "stunned" by the loss of a grand total of 1% of the PROPOSED budget?!  Reading the story carefully, it is never explained what the 2007 budget figure was, and I'll bet dollars to donuts that the $39.9 million proposal is an increase of more than 1% over the previous year's budget.

Yep.  A quick noodling around on the Lawrence Township website shows that the 2007 budget figure was $38,266,244.  Taking the $39.9 million figure as accurate, that's a proposed INCREASE of $1,633,756 from last year's budget.  That's a 4% increase being proposed.  And obviously there's simply no way in the world that the Township could get by if they only increased the budget by 3%.

No doubt Mr. Krawczun and Township Council will now spend weeks and hundreds of man-hours trying to figure out how to reconfigure the proposed budget to avoid a complete meltdown of life in Lawrence Township.  Any resident with common sense could probably spend a couple of hours on Wednesday afternoon and figure out a dozen different ways to cut out at least $400,000 from the proposed budget that would work just fine.

Prediction?  No way in the world a bunch of elected officials and bureaucrats find a way to get by with a little less.  Taxes and/or fees will be raised in hopes of generating more revenue from the taxpayers.

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