Gov. Sonny Perdue has often said that he’s the point at which Republican theory meets up with reality.
As my AJC colleague Aaron Gould Sheinin notes today, fewer than three days remain for the rubber-meets-road governor to sign a quartet of major bills.
The most controversial, from a philosophic point of view, is H.B 481, which creates new tax breaks for business and cuts capital gains taxes — 25 percent in 2010 and 50 percent in years beyond.
The tax cuts would cost $340 million a year in lost revenue, but Republican supporters — who include state Rep. Tom Graves of Ranger and Senate Majority Leader Chip Rogers of Woodstock — argue that the tax breaks would act as an economic stimulus.
It says so in the measure’s title: Jobs, Opportunity, and Business Success Act of 2009.
But Denis O’Hayer at WABE (90.1 FM) caught the governor expressing serious economic skepticism during a press conference last week.
In essence, Perdue said the economic theories espoused by Ronald Reagan and Jack Kemp — that lower taxes actually generate more government revenue — are a gamble that don’t have a place in Georgia.
Not in hard times.
Here’s what Perdue said, as aired on Friday:
“Georgia’s a balanced budget state. And it’s very difficult to do the stimulus-type bills in a state that’s starved for revenue and cash at the same time.
So that kind of destroys a supply-side theory within a state government.”
While you ponder that, consider these items found while perusing this morning’s ajc.com:
A federal judge takes up the question of whether Atlanta is entitled to Lake Lanier’s water. One insurance executive used 10 PACS to send $120,000 to Republican candidate for governor John Oxendine. Those fund-raising allegations against Oxendine are serious, a spokesman for rival Karen Handel says. The recession hits Atlanta mayoral campaigns, sending them to cheap alternatives like Facebook and Twitter. On the PSC move to work around a state law governing its chairmanship. PSC vice chairman Lauren “Bubba” McDonald is fined for ethics violations. Jim Axel, a voice from TV’s ‘era of quality,’ is fighting cancer.
Cynthia Tucker says religious conservative silence on torture has been troubling. Jim Wooten says a mother’s love still lives on. Jay Bookman declares Harry Reid’s victory on Yucca Mountain to be the nation’s loss.
And from elsewhere:
LAT: John Edwards’ aides plotted to sabotage his campaign over affair. WP: Wanda Sykes, Rush Limbaugh and the politics of humor. NYT: A shaky Pakistan is seen as a target of plots by Al Qaeda. LAT: Mickey Edwards says the nation needs a better GOP.
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