January 13, 2010

Legislative Philosophy 010609 - Google Docs

Legislative Philosophy - Musings during January 6, 2010 VT House Ways and Means Committee Meeting

This committee and Vermont's Legislature must recognize the structural changes underway in our society and financial system and not be lulled into believing that we will soon see a rebound to a former condition. The Vermont economy will be in ''rainy day" status for a long time.

Appropriations and spending must be consistent with the capacity of the tax base, which is not growing in Vermont. To consider extracting yet more taxes from this economy with a population that is growing at a rate 1/3 of the national average is bad public policy.

The Legislature's fundamental premise must be to reduce the government 'pull' on private sector assets, resources and personal income. Instead, they will be well advised to cut taxes as soon as possible by reducing the size of the public sector, including K-12 education, in an intelligent way.
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