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Archive for Monday, December 31, 2012

Kansas revenues beat December forecast

December 31, 2012

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— Kansas officials say the state is finishing 2012 with strong revenue collections, beating estimates by $30 million for December.

The Revenue Department said Monday the state collected $602 million in December, compared with the $572 million that had been forecast. Individual income tax payments in December played a big role, exceeding estimates by $27 million.

December sales tax revenues came in at $184.6 million, about $5 million less than expected.

The department also said revenue collections are running $32.7 million ahead of projections for the first half of the fiscal year that began July 1.

Revenue Secretary Nick Jordan called Monday’s report a positive sign for the Kansas economy.

Comments

63BC 1 year, 3 months ago

(1) The iron fact of budgeting is cash. Everything else is a guess.

Under the last year of Sebelius/Parkinson the state began the year with $876.05 in the bank.

That's a fact.

Kansas began this fiscal year, after two Brownback budgets, with over $450 million in the bank.

Fact.

Everything else is conjecture. We don't know where things will be in future years until this Legislature acts.

(2) The December income numbers were high because so many upper income people accelerated payments into 2012 to beat the Obama tax hikes.

Which proves how sensitive that group is to incentives, which is why some argue the Brownback tax cuts will work.

Everything about the future is guesswork, though.

Watch the cash---and by that obvious iron measurement, Brownback is doing vastly better than his predecessors.

0

Roland Gunslinger 1 year, 3 months ago

All this shows in the KDOR is terrible at estimating.

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Gandalf 1 year, 3 months ago

If my math is not wrong Kansas will lose around 200 million in fed money with the 15,000 people dropped from the unemployment rolls (so far). That would translate into roughly 18 million less sales tax generated.

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Gandalf 1 year, 3 months ago

Anyone know the actual figure for last year? That is the only real measure of growth.

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JackMcKee 1 year, 3 months ago

Here's the facts. Sales taxes were below forecast. Property taxes should be right on forecast. Therefore, INCOME taxes came in above estimates. Enjoy this while it lasts because come the closing of the first quarter of 2013 Kansas is going to start facing massive deficits caused by Brownback's reckless fiscal policy. A policy these goons want to expand to include everyone in the state. If we didn't have an income tax, the state would be facing a massive deficit. The next thing these idiots will do is raise the sales taxes, driving more purchases out of state and making the problem even worse. You have to be really stupid to be excited for this news.

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LJ Whirled 1 year, 3 months ago

Powerball winner ... Gracias!

1

disappointed_regressive 1 year, 3 months ago

Rich people living amongst poor people is just not social justice. This is being addressed as we speak.

1

disappointed_regressive 1 year, 3 months ago

Borrowing, and an empty account do seem to make happy-go-lucky liberals even more giddy. I guess it makes their chosen leaders act---- and act BIG! Then theyr'e happy that their chosen leaders have acted on their behalf, confiscating other people's stuff to even things up a bit.

1

Armstrong 1 year, 3 months ago

Judging by the libs posting this morning they would have been much happier with a revenue shortfall ? Blue Dots, your logic is star starting to swirl down the bowl.

0

autie 1 year, 3 months ago

Makes for a hopeful sounding article...however when the tax cuts kick in full gear the revenues will go south quicker than anyone will want. I'm not sure what the state will do when it can't pay the bills. I guess some furloughs would be in order..starting at cedarcrest.

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Richard Heckler 1 year, 3 months ago

When I think of the players that have been posing as fiscal conservative republicans over the past 33 years these thoughts come to mind and so does Sam Brownback.... which are representatives of reckless spending and tax cuts that have destroyed the USA economy and wrecked the lives of millions upon millions of households.

How did blue and white collar workers lose millions upon millions of jobs?

It’s not the Unions!

It’s corrupt Wall Street activity and monster GOP fraud that has killed jobs for millions of Americans. These are the dangerous GOP ENTITLEMENTS and terrible business decisions.

Sam Brownback comes to mind as he was a player in this repub fiasco.

Tax dollars in the hands of the Rt Wing Libertarian Neocon Fundamentalist Tea Party for Economic Terrorism is one way street to corporate profiteering and coming back to rt wing special interests campaign cookie jars.

Give the money to public education ...absolutely!

2

Richard Heckler 1 year, 3 months ago

When I think of the players that have been posing as fiscal conservative republicans over the past 33 years these thoughts come to mind which are representatives of reckless spending and tax cuts that have destroyed the USA economy and wrecked the lives of millions upon millions of households.

How did blue and white collar workers lose millions upon millions of jobs?

It’s not the Unions!

It’s corrupt Wall Street activity and monster GOP fraud that has killed jobs for millions of Americans. These are the dangerous GOP ENTITLEMENTS and terrible business decisions.

--- 1. Mergers = industry and jobs lost to other countries

--- 2. Hostile Takeovers = industry and jobs lost to other countries

--- 3. Leveraged Buyouts = industry and jobs lost to other countries

--- 4. Free Trade Agreements = industry and jobs lost to other countries

--- 5. Reagan/Bush Savings and Loan home loan scandal which killed the economy and cost the USA millions of jobs. = industry and jobs lost to other countries

--- 6. Bush/Cheney Home Loan scandal killed the economy and cost the USA millions of jobs = industry and jobs lost to other countries

--- 7. Bush tax cuts

All of above ultimately translate into millions upon millions upon millions of blue and white collar USA job losses in some cases to dictatorships. Big time layoffs are the end result. These jobs go abroad with tax codes that prevent taxation on profits made abroad from USA big name corporations.

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Liberty_One 1 year, 3 months ago

What terrible news--the State robbed the people even more than it intended to.

2

disappointed_regressive 1 year, 3 months ago

Roughly half, +/- a % point or two, want what other's have. This is just the way it is now. Half are producers; half are moochers. Perfect time for the advent of Barack Obama on scene.

1

Cant_have_it_both_ways 1 year, 3 months ago

It is so nice that our government knows better how to spend our money than we do.

1

Laus_Deo 1 year, 3 months ago

Government people took more of your wealth than they thought and you are happy about it?

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rtwngr 1 year, 3 months ago

Go, Sammy! I love to say I told you so to all of these libs in Lawrence. They still like to hang on to the old "tax and spend" agenda. You libs need to understand that fiscal responsibility and not handouts is the way to run government.

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grammaddy 1 year, 3 months ago

Can the schools get back some of that?

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disappointed_regressive 1 year, 3 months ago

Thank you gov. Brownback and KS GOP lawmakers for bringing fiscal responsibility back to Kansas while the federal government and most of hardcore blue states who voted to retain them sink like a boulder in to the deep fiscal abyss.

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