The expansion of state Medicaid programs has pushed the nation’s public welfare expenditures up 4.9%, from $519.2 billion in 2013 to $544.6 billion in 2014, according to the U.S. Census Bureau’s Annual Survey of State Government Finances. Hawaii (23.2%), Oregon (22.1%), Kentucky (17.9%) and Washington (16.7%) led all states. Each of these states, along with several others, expanded their Medicaid programs in 2014, contributing greatly to the overall national increase.
Not surprisingly given the scandalous manipulation of the tax codes by the rich, overall general state government revenues rose 1.8% from $1.71 trillion in 2013 to $1.74 trillion in 2014, while general expenditures rose 2.6%, from $1.68 trillion to $1.73 trillion. How do you spell DEFICIT?
The largest increase in state general revenues came from regressive general sales taxes and other taxes (severance, inheritance and stock transfer taxes), both of which were up 6.5%. Overall, tax revenue totaled $865.8 billion, up 2.2% from the 2013 total of $847.1 billion and 8.4% from 2012, when it totaled $798.6 billion. Federal grants accounted for nearly one-third (30.8%) of all state government general revenue in 2014, up from 30.0% in 2013.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
“Corporate income taxes declined by $21 billion (or 11%). About half of the decline occurred between October and March, when firms paid taxes that were largely on their taxable profits in the 2015 tax year. The other half of the decline occurred in April and May, when most firms began paying taxes on their taxable profits in 2016.
Part of the decline in receipts in the past two months probably stems from the enactment in December of the Consolidated Appropriations Act, 2016 (Public Law 114-113), which extended—retroactively and prospectively—tax rules that allow businesses with large amounts of investment to accelerate their deductions for that investment.”