The Tax Mire
Years of silly policies have helped create a record fiscal crisis. But if state budgets reveal what matters to us, it’s time to carefully consider our priorities.
On a late October day, Rhode Islanders surrendered $25 million to a cause they held dear. The state was but a month away from an empty till, and State Treasurer Frank Caprio rallied the citizenry to stave off penury with a one-day sale of tax anticipation notes. Governments use TANs to bridge short-term gaps between their spending and tax collections….