Wertheim issues a release singing the Governor’s praises. Unfortunately, the claims only provide half a story. Take a look at the other side of the facts:
income taxes and capital gains taxes were cut
“To free up revenue to pay for the new tax cuts and business incentives, the [Governor’s] measure slows down the phase-in of personal income tax rate reductions enacted in 2003.”
strong economy and consistent job growth
“New Mexico’s unemployment rate was 6 percent in May, unchanged from April’s rate, but three-tenths-of-a-percent higher than in May 2004, the New Mexico Department of Labor reported.”
balanced budget and record surplus
“Passed: Nearly $4.7 billion budget providing more than 6 percent spending increase on public education and general government. More than $30 million for initiatives of legislators and governor. Financing for about $470 million in capital improvements statewide. Allow state permanent fund investments in fine art and musical instruments.
Failed: Constitutional amendment to impose limits on state government spending increases.”
eliminating the tax on food
“So while New Mexico is giving up gross receipts taxes on these qualifying medical and food receipts, it is going to be taking more from all other taxable receipts. According to Fred Winter, local CPA, “This means that the overall gross receipts tax rate will increase from 7.00% to 7.50% for the Town of Taos.”
provide [energy] rebates
An angry Governor Richardson is blasting the state Senate for the energy tax relief package it approved. He calls it reckless and says he will veto it if it reaches his desk.
Good thing the Governor can hide out in places like North Korea. He must feel really comfortable in a society where the government manufactures “facts” to suit their best interest.