No matter which Main Street you walk or drive down in any
town in Delaware, reminders of this fragile, global economy show lifelessness
and despair. Empty storefronts have
become the new symbol of the Obama and Markell economy. Broken American dreams are all that remain.
Thirty years ago, Delaware was the economic engine of this
nation. Corporate powerhouses such as DuPont, Wilmington Trust, MBNA were once symbols
of Delaware’s former prominence on the global economic stage. Today, DuPont is
a shell of what it once was in Delaware due to a shift in global demand of
chemicals to developing nations.
Wilmington Trust and MBNA have been bought by other banks and are no
longer. Delaware was once the proud home
to two automotive plants run by General Motors and Chrysler. Today, they are gone. Delaware’s economic stature is dimming.
What has changed?
Thirty years ago, Ronald Reagan was in the White House and Governor Pete
du Pont was in the Governor’s mansion.
Today, it is President Obama in Washington and Jack Markell in Dover as
Delaware’s Governor. In a generation,
Delaware has lost its footing and unless things change, it does not look like
we will gain it back.
Today, Delaware’s economic performance and outlook are bleak
with no signs of hope on the horizon.
While Delaware is in the top ten states to make a living, the state’s
budget and tax policy hinder economic growth.
As of late, due to Democratic control of both chambers of the Delaware
General Assembly and the Governor’s mansions, Delaware has been in a continual
tax and spend marathon.
Since 2009, Delaware has ranked 49th out of 50 in
legislative tax changes1 with over $9.38 out of every $1000 being
levied a new tax. Since then the top
marginal personal income tax rate increased to 8.2 percent and the top marginal
corporate tax rate climbed to 9.98 percent.
These legislated tax increases are the result to address an 11.4 budget
gap in the FY2011 budget gap.
For us conservatives, we know Delaware has a spending
problem. If you don’t think so, then why
are taxes soaring to make up for the spending spree? Perhaps if Delaware wasn’t spending $6,800
per person2 it is annual budget, then these tax increases would not
be necessary. Perhaps if that
expenditure wasn’t two and half times that of Nevada (which is 44 times the
size of Delaware), then Delaware families and businesses would not be the
state’s ATM.
Thirty years ago when conservative principles governed
Delaware, its economy functioned on all cylinders. With each passing election since, liberals
replaced conservatives. Spending boomed,
taxes soared, companies left for more business-friendly states. The result of what we are faced with now, is
a state riddled in big government, bureaucracy, and an ideology that government
is the solution.
2012 brings enormous opportunity and responsibility for the
Delaware voter. This very well could be
the last meaningful election to make a difference. Do we allow Delaware to be driven off the
cliff pedal to the metal, or do we elect constitutional, fiscal conservatives
to Legislative Hall who are going to take a machete rather than a scalpel to
the state budget? If we remember one
thing from the 2010 election, remember the wise words of State Senator Colin
Bonini (R-Dover) who echoed time and again “It’s OUR money.”
Perhaps with proper representation and leadership in Dover,
Delaware would not have a spending problem that forces individuals and
businesses to carry the weight forced upon us by those elected to serve. Delaware Democrats has been on spending
binge, but when you have a trifecta of government control (Governor, State
House and State Senate) with no opportunity to have proper checks and balances
or adults in the room, the taxpayer credit card will be maxed out.
Perhaps if our elected leaders were good stewards of our
finite resources and If we treated elections with the same care as we did for
our loved ones and not like a popularity contest, Delaware’s lamsptand would
shine a bit brighter.
1 Source: America Legislative Exchange
Council. Rich States, Poor States 4th
Edition. http://www.alec.org/docs/RSPS_4th_Edition.pdf
2 Source: The Six States Where Taxes are Soaring
via 24/7 Wall Street http://www.foxbusiness.com/personal-finance/2012/03/21/6-states-where-taxes-are-soaring/
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