JMI Sr. Fellow Dr. Randall Holcombe quoted in Palm Beach Post article “Florida’s budget cuts stir job fears” regarding the 2011-2012 proposed state budget.Excerpt:
. . . Randall Holcombe, a Florida State University economist and senior fellow at the conservative James Madison Institute, also said the budget’s overarching goal of keeping money in the private sector will yield returns.A $210 million property tax cut and $30 million reduction in corporate income tax will give more businesses money to spread around the economy, he said.”The only way you can put more money into school districts is through taxes, taking money from the private sector,” Holcombe said. “And higher taxes discourage economic activity.” . . .