Random Bailout and Stimulus Thoughts

My creativity has been a bit off lately with too much going on at work to really think about the political and financial tsunami around us. Or maybe it is more about avoidance. Either way, it's time for some randomness....

The NJ Governor signed legislation today that has been reported(here) as a business inducing change in the state's taxation rule. What strikes me as strange is that while we have had a stampede of business unfriendly legislation (increased taxes, paid family leave, increased rules and regulations etc) that have had an absolutely direct impact on revenues and/or costs, this legislation represents some esoteric rules changes that will frankly only do something for the companies who apparently lobbied someone. You want to stimulate business in New Jersey? Give a three year tax holiday for any company that hires more than 250 people in the next three months. Stop with the lame pretend improvements.

The state Minnesota has spent millions to get to a foregone conclusion. That a clownish Democrat will somehow procedurally be declared a senator. The same team(read here) that accomplished a similar overturn of an election in Washington state is on the job. And Minnesota will only begin to be embarassed should Franken get away with it.

New York woke up recently to the announcement of their Governor's plan to tax everything that moves. I commented on the Patterson's plan here at njtaxrevolution. Then I read this opinion piece in the Inquirer. And main thrust of the argument is that at least NJ and PA are not in New York's situation. The joke of that argument is that when the economy was much better, New Jersey already enacted the same pack of clownish legislation taxing everything that moved. And look where it has gotten us. We still have outrageous deficits and the only reason it isn't more obvious in the news is that New York already knows that they are in trouble. Our state leaders haven't done the math yet.

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