Economic Meltdown in Lousiana

[Cheerful Charlie]

If y'all don't like blaming it on supply side economics, then don't. Let's just call it mismanagement. Jindal, and a GOP Senate and House ran Louisiana for 8 years. And its obvious now, during that time, something bad happened.

 

[prideandfall]

And yet, in 2013, they were in the top 10 states in government spending per capita. That is reckless after those tax cuts were implemented.

Texas collects fewer taxes per person, also has a significant size oil and gas sector, and yet its fiscal situation is just fine.

dear fucking god... seriously?

as of about 2013:
texas population: 27 million
louisiana population: 4.65 million

texas GDP: 1.4 trillion
louisiana GDP: 216 billion

so you're telling me that a state with 6 times the population and 5 times the wealth pays less per person in taxes and yet has a more stable economy?
THE HELL YOU SAY?? what sorcery is this!?

this is some monumentally retarded bullshit, even for you axulus.

 

[Axulus]

And yet, in 2013, they were in the top 10 states in government spending per capita. That is reckless after those tax cuts were implemented.

Texas collects fewer taxes per person, also has a significant size oil and gas sector, and yet its fiscal situation is just fine.

dear fucking god... seriously?

as of about 2013:
texas population: 27 million
louisiana population: 4.65 million

texas GDP: 1.4 trillion
louisiana GDP: 216 billion

so you're telling me that a state with 6 times the population and 5 times the wealth pays less per person in taxes and yet has a more stable economy?
THE HELL YOU SAY?? what sorcery is this!?

this is some monumentally retarded bullshit, even for you axulus.

It has nothing to do with stability of economy but rather fiscal mismanagement. Even a retard (using your 4th grade language) can see that. If you don't like Texas, should I bring up other examples, or will you invent some other lame excuse?

 

[Axulus]

If y'all don't like blaming it on supply side economics, then don't. Let's just call it mismanagement. Jindal, and a GOP Senate and House ran Louisiana for 8 years. And its obvious now, during that time, something bad happened.

Agreed, it is classic mismanagement. If an oil price plunge of greater than 50% (something which happens every 10 years or so) and GDP growth slowdown (something which is also not a rare occurance by any means) puts your government finances into crisis mode, then you were doing nothing more than gambling at the casino.

Those who had a hand in creating that financial situation are to blame.

 

[Horatio Parker]

From the article:



[...]

Since the 2007-08 school year, Louisiana has cut funding for higher education by 44 percent, the sharpest pullback in the nation; Southern has seen its own funding cut 49 percent. During that time, the burden of supporting education has flipped: Whereas the state once provided 70 percent of the money to its schools, now the students support the bulk of the costs — in the form of higher tuition.

And yet, in 2013, they were in the top 10 states in government spending per capita. That is reckless after those tax cuts were implemented.

Texas collects fewer taxes per person, also has a significant size oil and gas sector, and yet its fiscal situation is just fine.

You said there was no reduction. What was that?

Also, when I google, I get per capita ranking of 24 in 2014.

http://www.nola.com/politics/index.ssf/2016/03/louisiana_budget_spending_prob.html

What's your source for top ten?

 

[Loren Pechtel]

That sounds a lot like Venezuela's fiscal policy: few taxes, reliance on oil revenue, and handing out lots of goodies (the state was in the top 10 spending per capita in 2013). Supply side policy that is not.

Supply side as described, you're right. Supply side in reality--it's pretty much a match (although supply side usually doesn't rely on oil.)

 

[AthenaAwakened]

dear fucking god... seriously?

as of about 2013:
texas population: 27 million
louisiana population: 4.65 million

texas GDP: 1.4 trillion
louisiana GDP: 216 billion

so you're telling me that a state with 6 times the population and 5 times the wealth pays less per person in taxes and yet has a more stable economy?
THE HELL YOU SAY?? what sorcery is this!?

this is some monumentally retarded bullshit, even for you axulus.

It has nothing to do with stability of economy but rather fiscal mismanagement. Even a retard (using your 4th grade language) can see that. If you don't like Texas, should I bring up other examples, or will you invent some other lame excuse?

Actually you won't. To be a legitmate comparison, you would have to run numbers, have some knowledge of the laws of each state with regards to taxes and spending and investments. This is the kind of analysis that teams of people engage in for months. I don't see you or anyone here, doing that kind of work alone.

Throwing out the state of Texas and saying "They aren't broke", with no explanation of the similarities and differences as to how LA and TX do business looks to me like saying "You like steak so you should like liver."

 

[laughing dog]

It has nothing to do with stability of economy but rather fiscal mismanagement. Even a retard (using your 4th grade language) can see that. If you don't like Texas, should I bring up other examples, or will you invent some other lame excuse?

The level of taxes are irrelevant to any comparison because Louisiana under Jindahl's guidance reduced taxes for the purpose of spurring local economic growth. I am very surprised at your shoddy economic analysis in this thread.

 

[Sarpedon]

Because the previous incumbent cut taxes and hoped for a wave of growth, in accordance with supply side economics? Are you even paying attention? The same thing is happening in Kansas and Wisconsin. But of course, facts aren't important. Cutting taxes to rich people is important.
How are the 11 other states collecting fewer taxes per person than Louisana able to get by? Texas collects fewer taxes per person, for example, yet somehow managed a surplus the last several years. Why is that?

Because Texas has oil.

List the 11 states, and I'll list their alternative income source. Your willful ignorance is hilarious.