Wednesday, April 27, 2005
Explosion of Tax Revenue for Tennessee
Bill Hobbs has a post on the new revenue forecasts. Two things concern me about this report. First, Bill Fox is the source. All of my dealings with Bill Fox have led me to the conclusion that a) he is rarely correct on his predictions and b) his predictions nearly always favor whomever is footing his bill. For those who have forgotten, he was the source of misinformation for much of Sundquist's income tax effort (as opposed to William Ford at MTSU and J.R. Clark at UTC, who were my economic sources during that time due to their independence). The second problem I have with this study - is it a double-edged sword? It's long been proven that - no matter which party is in control of Nashville - all tax money will be spent regardless of need. Isn't this type of forecast just what Bredesen needs to point to during the stretch run of having his Pre-K plan approved?