The logic of the unthinkable in Olympia

Commentary | February 19, 2010 | By Marilyn Watkins | Puget Sound Business Journal

Our Legislature's chief concern as it wrestles with how to close the $2.6 billion budget gap should be protecting and creating jobs. Contrary to what some pundits are saying, the best bet to spur private sector jobs is to raise taxes as much as necessary to maintain state spending. According to Mark Zandi, economic advisor to Sen. John McCain, R-Ariz., and businesses around the world, each $1 of general state spending results in a $1.41 increase in economic activity. Does raising taxes also cost jobs? Yes, but not as many as the equivalent cuts in state spending.

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Posted in Column, State Economy