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Cato Daily Podcast
State-Level Strategies for Constraining Spending
Oct 11, 2023
This podcast explores how states can implement strategies to constrain spending and lower taxes. It highlights examples from Colorado, North Carolina, and Texas, emphasizing the importance of connecting spending limitations with tax cuts. The podcast also discusses the benefits of federalism, reducing taxes, and key reforms at the state level. It explores the challenges presidents and governments face when reducing government spending and suggests approaches for states to ensure effective use of taxpayer money.
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Quick takeaways
- States can implement measures to constrain revenue or spending, such as basing spending limits on population growth plus inflation, to create opportunities for tax cuts and economic growth.
- Controlling government spending instead of increasing taxes can promote economic freedom and liberty, and linking spending reduction to tax cuts can be a persuasive selling point for politicians seeking reelection.
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States' varied ways of constraining spending
States have different methods of constraining spending, with some going beyond the basic requirement of balancing budgets. Examples include Colorado, North Carolina, and Kentucky implementing measures to constrain revenue or spending, such as basing spending limits on population growth plus inflation. By controlling government spending, these states create opportunities for tax cuts, economic growth, and increased prosperity.
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Discover
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