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Joseph Skues

http://www.cafrman.com/TheRefundPlan.htm - 0 views

www.cafrman.com/TheRefundPlan.htm

cafrman FUND averages cover the facts

shared by Joseph Skues on 14 Aug 10 - Cached
  • give the money to 10% of the wealthiest Americans and they would invest and spend the money that would increase employment and help the 90% of Americans.
  • This trickle-up approach is to provide the potential surpluses to all residents of the particular government equally
  • This approach will work because it is the 90% of the residents that drive the local economy, not the 10%.
  • ...9 more annotations...
  • One way they con the American people is with averages
  • Another Con Game
  • This is because the wealthy benefit more from income tax reductions than reductions of other taxes.
  • The surpluses should have been allocated 50% to the income tax rates and 50% reduction in all other taxes.
  • What this system provides is that for each fund in the CAFR the revenue adjustments will be made on how the revenues were initially applied within the fund. This means that if there needs to be a reduction in revenue requirements and the sales tax amount to 50% of the revenue then the sales tax requirements will be reduced by 50% of the needed revenue reductions.
  • everyone gets a crack at it
  • reduce or increase the revenues based on need at the fund level
  • then the cost of fish and hunting license will be reduced
  • Not the surplus taken to the General Fund and spent on income tax reductions, other programs, new programs, or pork barrelling.
Joseph Skues

http://www.cafrman.com/Articles/Art-MI-S1.htm - 0 views

www.cafrman.com/...Art-MI-S1.htm

cafrman MICH 2003

shared by Joseph Skues on 30 Jul 10 - Cached
  • $1,009 for every man, woman and child
  • This does not include all the additional surpluses that exist in the school districts, cities, or counties in Michigan.
  • funds that are not required or needed
  • ...23 more annotations...
  • But what we have found is that most governments have huge amounts of cash and investments on hand at the end of the fiscal yea
  • not being recycled back through the budget process the next year,
  • The budget only covers a small portion of the State's financial condition
  • The CAFR usually has four categories. Governmental FundsProprietary FundsFiduciary FundsComponent Units
  • Enterprise Funds, a component of proprietary funds,
  • charges for services or goods, assessments, fines, licenses, etc
  • are legally separated organizations for which the government is financially accountable.
  • The remainder of the Funds shown above are not part of the budget and are commonly called "off-budget" items
  • but should be
  • Although taxation is legitimate, running a government surplus isn't.
  • it exceeds the government's contract with the community
  • Excess taxation isn't what the people bargained for.
  • This system is covered in the CAFR Budget System. This system needs to be implemented in all governments. If the State holds the excesses/surplus, it will earn 4% to 5% on that money. If the State returns the money to the people it will receive 20% in revenue because of the increased economic activity. This is elementary economics.
  • Total Benefits...   2,282 9,129  
  • In FY 2002 there were 310,000 unemployed in Michigan, If the $10.13 billion is returned to the people 203,395 jobs are created. This is why it is disastrous for governments to hold excesses/reserves of the taxpayers money.
  • The business community suffers the most.
  • That is 5 times the amount the Federal government used to stimulate the U.S. economy
  • That represents 4 years of reserves.
  • Bottle Deposits Fund, another Special Revenue Fund had net expenditures of $3.3 million. But it also had cash and investment reserves of $125 million. The reserves represent almost 37 years of expenditures.
  • Michigan Unemployment Compensation Fund, an Enterprise Fund, had net expenses of $665 million. It also had reserves of $1.7 billion. That represents 3 years of reserves.
  • These only represent four of the 81 funds shown below that had cash and investment reserves not being used.
  • The following items are not included in the amount of surplus shown:
  • -Retirement/Pension Funds - only included are 1/2 of the actuarially determined excesses, the taxpayers portion. The other 1/2 is the government employees portion.
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