Wednesday, July 6, 2016

On taxes and budgets - our social compact



The fundamental responsibility of state government is to provide a social infrastructure for its citizens. This is accomplished by raising funds via taxation and fees and then developing a spending plan to accomplish these goals.

A budget represents the priorities of the citizenry and includes various expenditures such as health and welfare, public education, judiciary and regulation, administration and finance, public safety, and transportation.

(This column is full of numbers and percentages and rankings. But this is what impacts your pocketbook and provides the services you demand. So pour a cup of coffee and settle in).

It is interesting to compare the spending by the various states (FY2015 – last year all data available).

Of the New England states, Vermont finds it necessary to devote over $9,200 per person while New Hampshire gets along fine spending less than half of that.

                                                Per Capita           National
                                                Spending             Rank
Vermont                                  $9,265                  11
Rhode Island                          $8,426                  13
Maine                                     $6,244                   21
Connecticut                            $5,681                   24
Massachusetts                       $5,372                   29
New Hampshire                     $4,284                   44

Rhode Island, while feeling that it can spend less per citizen than Vermont, is still well above the national average of $6,900. Massachusetts, on the other hand, is a decent bargain at 29th place nationwide.

One of the brilliant features of our system of federated republics is that the states act as a “laboratory of democracy”. We can see what works and what doesn’t, learning from the best and avoiding the worst. (This is why all Federal mandates have a built-in negative consequence – eliminating the competition of ideas in that particular policy arena).

Vermont and New Hampshire have nearly the same area, though New Hampshire has twice the population. Despite the disparity in per capita spending, Vermont and New Hampshire both have high school graduation rates of 91% (excellent, by the way). They both rank moderately high in happiness, 13th and 16th respectively. And they both have a high life expectancy of over 80 years.

In terms of total tax burden, Vermont ranks 12th nationwide with a burden of 11% while New Hampshire comes in 49th at 8.5%. (Massachusetts is, again, quite frugal at 9.6%, ranking 40th).

Vermont and New Hampshire, while at opposite ends of the spending spectrum, yield very similar quality of life results. There are likely some lessons to be gleaned here.

Rhode Island is another case. Its per capita spending is very high, ranking 13th in the nation. It also comes in 6th in total taxation with a rate of 11.6%. So what are the citizens of Little Rhody getting for their high tax and spend regimen?

Life expectancy is 79.9 years, only a touch below the New England leaders. But the happiness index ranks 41st nationwide, a poor showing in exchange for profligate spending. The average public wage is $56 thousand, the highest in the region, but the home ownership rate is the lowest at 57%. And worse, the high school graduation rate of 84% is the poorest in New England. It seems that if Rhode Island wants to attract new businesses and skilled employees, they’ve got a bit of work to do.

Finally, in spite of a past legacy and reputation as “Taxachusetts,” Massachusetts is doing a solid job of fiscal management for her citizenry. Taxes are relatively low (as previously noted) and quality of life indicators are good. Life expectancy is over 80 years, happiness ranks 9th nationwide, and the high school graduation rate is over 89%. While there is always room for improvement, these are respectable results.

What can you do, dear citizen, to determine how your money is spent? Just two things: inform yourself and vote. You would be joining a very small club of those who do both.

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