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Modest Plan to Cut the Texas Budget in Half

6/3/2020

2 Comments

 
Picture[Click image to view full report]
Libertarian Booster PAC presents a plan to cut Texas state spending across the board by 4% per year for ten years. Combined with projected 3% annual current-dollar growth in gross state product, this plan shows how Texas tax rates can be cut in half by 2030, and how state spending (as a percentage of gross state product) can be reduced by half. The plan is called the “Modest Plan to Cut the Texas Budget in Half.”

Libertarians think people are better off when they are free to keep more of the money they earn. The lower the taxes, and the stronger the economy, the more people can afford the things they want and need without assistance from the government.

We are not simply looking to improve government efficiency and to reduce waste. We would go further. Libertarians want the government to do less. We think many services the government provides today, like health care, education, and transportation, would be better if provided by the private sector. And some things done by government should not be done at all, like throwing marijuana users in jail.
​
Our plan is to make Texans’ lives better by cutting government spending, reducing taxes, and moving many people off government assistance into a thriving free market economy. While some low-income Texans will have direct government benefits reduced, they’ll also pay lower sales taxes, lower government fees, have greater job opportunities and an overall lower cost of living. 

Key features:
  • Gradual, ten-year phase-in
  • Cuts spending across the board by 4% per year
  • Reduces tax rates 5% per year (50% after ten years)
  • Cuts spending as percent of gross state product in half

All Tax Rates Halved (Examples)
2020
2030
Sales tax
6.25%
3.125%
Gas tax
$0.20/gal
$0.10/gal
Oil production tax
4.6%
2.3%
Cigarette tax
$1.41/pack
$0.71/pack
Key Measures
2020
2030
Total spending (billions)
$125
$83
Spending as % of gross state product
6.47%
3.2%
Spending per resident (current $)
$4,250
$2,434
lbpac_texas_budget_plan_2020-06-15_v1.pdf
File Size: 1144 kb
File Type: pdf
Download File

2 Comments
Chris Hibbard link
6/3/2020 05:33:35 pm

I’m all in. Let me know how I can help. Thanks

Reply
Elena Peter link
2/17/2021 06:20:54 am

Great article. As I know, more than half of discretionary spending went for national defense, and most of the rest went for domestic programs, including transportation, education and training, veterans' benefits, income security, and health care. And I am sure everyone is aware about the fraud cases in very field. But legal advisors and professionals are doing great to fight and stop frauds.

Reply



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Pol. adv. paid for by Libertarian Booster PAC.
  • Home
  • About
    • Mission
    • Issues >
      • 2020 Texas Issues >
        • Taxes and Spending
        • Education
        • Jobs
        • Police
        • Marijuana
        • Guns
      • 2019 Virginia Issues >
        • Education
        • Jobs
        • Police
        • Taxes & Spending
        • Alcohol, Tobacco & Marijuana
        • Guns
        • Healthcare
        • Environment
        • Civil Rights
    • Contact
  • Blog
  • Candidates
    • Campaign Material Templates
    • 2022 Texas Candidate List
    • 2022 TX Candidate Info
    • 2022 Williamson Co Filing Fees
    • 2020 Texas Candidate List
    • 2020 TX Candidate Info
    • 2019 Virginia Candidates
    • Virginia Resources
  • Donate
    • Texas Filing Fees 2022
  • Shop
    • Magnets
    • Shirts
    • Hats
    • Enough is Enough signs
    • Stickers
    • Book - "Intro. to the Libertarian Party"
    • Any Candidate