October 12th, 2009 :: Permalink
Mr. Kalapa writes, "So is the economic outlook for Hawai'i improving? It certainly does not appear so for the near future and tax collections will continue to decline, if not stagnate. That can only means government will have to tighten its belt further."
Keep in mind Mr. Kalapa is president of the Tax Foundation of Hawai'i. He claims this group is non-partisan, but that isn't really accurate. He adds that the foundation, "is supported entirely by private contributions." Yet he doesn't tell you that these contributions come primarily from the most wealthy who want solely to reduce their tax contributions to our nation.
I fully agree with Kalapa's analysis of the state's economy ... due to the shock from the 2008 crash - on top of the housing crash - on top of the 2000 stock crash - on top of our outrageous household debt - and on top of our extraordinary current high levels of unemployment - CONSUMERS are scared to death! And consumers make up over 70% of our national economy and more here in Hawai'i.
Sadly Kalapa furthers, as Paul Krugman writes in the NY Times today, "bad ideas that helped cause the [Great] Depression."
Readers ... you have a choice. You can sit back and listen to those who do not understand the complexities of modern economics or you can demand change. The Tax Foundation of Hawai'i supported the policies that led us into this tragic mess. Yet Kalapa now demands we increase our contraction. The result will be further collapse of the Middle Class - and in most cases - this is you.
The RICH have grown increasingly rich over the past 30 years. Look at your personal finances. Jobs have fled our nation like a disease. Look at your current pay and benefits.
America's most wealthy are VERY GOOD at making money. I applaud their skills. Yet when we give a rich Hawaiian investor, for example, an extra billion dollars, does s/he invest here in Hawai'i? Most likely not.
A good investor will take extra money and look for an investment where s/he can make the MOST money. This is not in Hawai'i. We have given our precious resources to our top investors - who channeled that money OUT OF America. We began this process during the Reagan administration and it has accelerated for over 30 years. You are bankrupt; our nation is bankrupt; and Kalapa and the Tax Foundation of Hawai'i want to continue this strategy of making themselves increasingly properous.
This will lead to our collective ruin. The RICH will get richer; you will continue to be pinched until you collapse, lose your home and your hope. Your private pension today is at risk. Our society owes over $57 TRILLION in obligations for social security and medicare and Kalapa wants to take more jobs away from local workers.
We have been hit collectively with a financial TSUNAMI. Had this been an ocean tsunami, we would get tremendous financial support from the federal government. This would allow state and county services to continue. Kalapa wants to end many of these services. These programs protect our food and water, sea life and oceans, guard against disaster, educate our children and much more. Kalapa doesn't care if you suffer. He has one concern only - to increase his personal wealth and portfolio.
Stand against this madness. WE'VE HAD ENOUGH!