Scott Budget Tour Touts Tax Cut

By: The News Service of Florida
By: The News Service of Florida

Gov. Rick Scott stopped at a Tampa manufacturing plant Thursday to tout his $2 billion tax-cutting plan and to taunt President Obama for failing to push for similar rollbacks at the federal level. Scott’s appearance at Chromalloy Manufacturing was part of the stagecraft leading up to his scheduled budget release Monday at a Tea Party rally in Central Florida. Scott reiterated his campaign pledge to cut the state’s corporate income tax and lower property taxes. “Whether it’s property taxes, the business income tax, or President Obama’s taxes, it’s time to relieve the financial burden on Floridians and make sure we are not wasting taxpayers’ dollars,” Scott said. Chromalloy, an engine parts manufacturer, recently opened the plant in Tampa which Scott toured. Scott’s fellow Republicans in the House and Senate have pushed back against the tax cuts cited Thursday, but the governor has show no signs of backing off. The state is facing a $3.6 billion budget shortfall. But Scott has said the budget is “bloated,” and that he wants to reduce state spending by $5 billion. As part of that reduction, Scott wants to reduce the state’s business income tax from 5.5 percent to 3 percent next year, eliminating it out over the next seven years. Scott also wants to trim the property levy going to public schools by $1 per $1,000 valuation, a 19 percent reduction that he said would save more than $1 billion but potentially threaten school financing.

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  • by Bolillo Location: Wakulla on Feb 4, 2011 at 03:07 PM
    This Scott dude is running for prez in 6 years.
  • by Anonymous on Feb 4, 2011 at 01:43 PM
    Laughing at GV now, I just saw you big mistake. Nobody said eliminate taxes. Your example 2%-2% yes it does equal zero, but what if you took the 2% and made it 1.8 % and allowed businesses ti invest the .2% back into their business. This is where a tax cut can be a win-win for everyone. Only those that are for big ever-expanding government will argue against this. This worked during the 80,s Federal tax revenues increased, but Congress at the time spent 1.8 times the revenue increase.
  • by Anonymous on Feb 4, 2011 at 01:37 PM
    Laughing at GV now, Actually cutting taxes can increase revenues to the State. Here's how, A business gets a tax cut (less money goes to the State) that business decides that it can buy a piece of equipment with the savings in taxes. That piece of equipment has to be shipped in Florida, Installed, and tested all of which means money spent in Florida, and revenue for Florida. Now the business can generate more business with this new piece of equipment which means more taxes to the State. Copy this over and over again as businesses start to invest capitol into their business, and you will see people starting to find jobs (as these businesses start growing again) and getting back to work increasing demand for goods and services all of which helps generate revenue for that State.
  • by watcher Location: nearby on Feb 4, 2011 at 01:22 PM
    For every dollar in tax cut to corporations and propery tax the richest people in the state will gain at least two dollars,,,and it will come from the state`s poorest people. If the Governor is to show his budget and taxcut plans it should be done at the Capitol and reported by every news outlet showing ALL people of the state who will be affected by it. Just like his 7 year job plan- how will the corporate tax be abolished after he finishes his 4 year term? I catch a hint the next (s)election has already been established.
  • by Anonymous on Feb 4, 2011 at 12:59 PM
    Why is it that to Gov never cuts their own salary??? I think everyone should have to give up something.
  • by GV Location: Ga on Feb 4, 2011 at 11:53 AM
    I made my point.And why does everybody assume that because my location is Ga that I don't pay taxes in Fl?I probably pay more property taxes than most of you floridians do.
  • by Laughing at GV now Location: Tally on Feb 4, 2011 at 11:25 AM
    Wow GV, you really put it to me. Except that you apparently did not (or are not capable of) follow the thread. Billo was responding to a question by NATE who asked "HOW cutting taxes leads to MORE revenue for the STATE?" The answer is it DOES NOT. Again, you or Billo or anyone else can debate the merit of taxes in general, but to espouse that reducing taxes increases revenue is simply absurd. But, it is quite obvious that you are unable to make any intelligible argument, hence the name calling. For the record, what does 2%-2%=?? Oh yeah....something like a 1000%, right? By the way, what taxes is our Governor planning to cut that will put money back in the pockets of average Floridians? No that you care, being from GA and all. Unfortunately, for us, he hasn't offered a single example yet; though he has outlined many reductions for his wealthy business cronies. Billo - I was a bit harsh and as a fellow moderate, I apologize.
  • by Ed Location: Tallahassee on Feb 4, 2011 at 11:23 AM
    Wall Street Uber Alles!!
  • by Billo on Feb 4, 2011 at 11:19 AM understanding is based on Laffer's curve that when tax rates are at zero, revenues are zero as well -- the government makes no money when it taxes nothing. With that being said, we will always be paying some sort of tax rate so your first question doesn’t make much sense. As for your second question, you got me stumpped, please expound your point. Unlike some on this blog, I would love to hear constructive and adult arguments to Scotts purposals. We are all in the same boat after all.
  • by Daniel Location: Tallahassee on Feb 4, 2011 at 10:58 AM
    I think we need a mandatory prison term for any politician who is guilty of any type of dishonest act while serving in a public office. Pretty much like the law on using a handgun to commit a crime. Sooner or later our new governor would qualify.
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