Think About It: Taxed Messaging - KFVE, K5-Hawaii News, Weather and Sports

January 19, 2012

Think About It: Taxed Messaging

As budget shortfalls are projected for the state a few years down the road, one possible solution being tossed around, as usual, is to raise taxes. With our citizenry already feeling the burden of three tough years with a weak economy, this is not a happy solution. Of course, raising taxes is never a happy solution. For a private business to thrive and continue to exist during tough times, it has two options or a combination of two options- increase revenues and/or decrease expenses. That's it, simply and direct.

But raising revenues often requires market factors that are out of a company's control, and that leaves cutting expenses as the only viable solution often times. While the government can attempt to keep borrowing or push out its payments far better than private businesses can, it still has to be accountable to the accountants. No one wants harmful species invading our shores, but that could happen with fewer agricultural inspectors. No one wants more potholes and bumpy roads left unfixed, but that could happen if funding simply isn't there. And nobody would dare suggest we cut back on our school funding, but something has got to give to balance the state books at some point.

Even on the federal level, the mantra to reduce government spending sounds good and makes for fine editorial posturing, but I've yet to hear anyone old enough to need it volunteer to give up his or her Medicare, Medicaid, or Social Security payments. There are no simple solutions- locally or nationally; no one-size-fits-all-and solves-all-our-problems cuts. Once again, state of Hawaii elected officials have some serious decision-making facing them, and the resulting spending decisions will undoubtedly impact and affect us all in the years ahead in one way or another. Think about it…

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