Tuesday Twitter roundup

The stealth budget approaches:

The best hammering of this particular nail that I've seen so far:

There is growing bipartisan recognition that a cuts-only approach isn’t working, that in fact our shared investments are needed to support quality schools, transportation, safe communities and other building blocks of widely shared prosperity. Meanwhile, some legislative leaders have variously proposed reallocating sales tax revenue or securing state dollars for selected critical local infrastructure like water and sewers or important community assets like public libraries where such spending will shield their constituencies from the harm of state income tax cuts. The result is that the General Assembly’s pursuit of the public good is increasingly defined in the narrowest terms.

The most damaging truth in the final budget debate is that the state budget, a document that sets out our shared priorities for the next two years, is increasingly about protecting a few rather than serving many.

Just an added note: Alexandra Sirota knows her stuff. That's...all I really wanted to add, not sure if it justified a full-fledged Colon. ;)

I think that's actually the Governor, and not a faux. If so, that was a decent attempt at humor, except Silicon Valley is a place, not a person. So you should have said, "Silicon Valley where?" See? It's much more...Okay, they're both considerably lacking in the funny. But if you're going to do something pointless, do it right.

Me too, brother. Teh stupid is painful.

That is pretty crazy. But I guess if you don't have anybody to legitimately blame other than yourself, just throw it on the general public...

That is a lot of people, especially considering they only had five days notice he would be coming.

Okay, let's see what the anti-tax nutters have to say:

The budget deal announced by House and Senate leaders includes reforms that will allow individuals, families, and employers across North Carolina to keep more of their earnings. The budget agreement announced today, if approved by Gov. Pat McCrory (R), reduces the individual income tax rate from 5.75 percent to 5.499 percent in 2017. This income tax cut will result in $2.8 billion in taxpayer savings over the next five years.

Beginning in January 2016, in accordance with the tax reform package approved by North Carolina lawmakers in 2013, the corporate tax rate will drop from 5 percent to 4 percent. Under the budget agreement released today by Senate President Phil Berger and Speaker Tim Moore, the trigger on further corporate rate reduction was repealed and replaced with language guaranteeing that the state corporate income tax will definitely drop to 3 percent.

Bolding mine. That equates to a loss of budget revenues of just under $570 million for each fiscal year. Just the personal income tax. God knows what that massive drop in corporate taxes will do. Without even looking at any other aspect of this budget-killing bill, that's a hard road ahead. Hell, it's not even a road, more like a precarious goat path on the side of a steep cliff. SMH.

p.s. I find it interesting that Americans for Tax Reform had this information yesterday afternoon, when most lawmakers didn't.

Speciale is a special kind of stupid:

“Look you Islamic son of a bitch” begins the quote Speciale shared on his public Facebook page Sept. 5. “Unless you give all your land back to the native Indians, don’t pretend to lecture Israeli’s (sic) about our borders when you can’t control your own.”

The quote isn’t from Speciale himself. He posted an image of Obama and Israeli Prime Minister Benjamin Netanyahu on Facebook that featured the comment. The image appeared on a page called “1 MILLION People to DEFEAT Barack Obama.” It’s unclear where the quote originated.

I'm sure Speciale doesn't care where the quote originated, as long as it makes him look cool to his fringe followers. Guh.

Yeah, I'm sure the General Assembly had several budget committee meetings to discuss what Tim Peck wants them to add or remove. Dumbass.

Really? Sales of goods and services are more "stable" than personal income? And those sales are going to remain stable when you hike up taxes on them? Why don't we ask the retail experts:

Retail store closings in the U.S. have less to do with economic implications and more to do with sociological insights. Store closings are no longer about discretionary income as much as they are about consumer empowerment and how retail consumption is shapeshifting in response to rapidly changing consumer behaviors and preferences.

The amount of commercial retail store space in the U.S. grew 12% from 1970 to 2010. In a consumer-driven economy where approximately 70% of the GDP is dependent on the purchase of goods and services, this seems like a positive indicator of economic expansion and strength. But during that same time period, the population of the U.S. consumers only grew 52%. So rather than being a sign of economic stability, the number of retail stores in the U.S. is more of a sign of retail store supply exceeding retail store demand.

It’s not that consumers haven’t been making money and spending it on retail goods and services since the Great Recession. Rather, it’s that consumers are losing interest in and patience for the retail store distribution model. The tedious and time-consuming process of slogging from store to store seeking “the perfect” whatever is becoming less of an entertaining recreational hobby, and more of an avoidable annoyance. Retail store closings in the U.S. are no longer a reflection of poor economic health, they are a reflection of an antiquated distribution system that is increasingly losing its appeal to the average consumer.

The bottom line is, retail sales are fickle and increasingly difficult to predict. To shift our public revenue from personal income over to that notoriously unstable source is akin to driving your car down the Interstate with no lug nuts on your wheels. A crash is imminent, you just can't predict when.

On that painfully obvious note, here's your Onion:

Eh, too depressing to contemplate. Here's another:

:)

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