Kentucky's "tax relief" special session of the legislature last month was really just a reduction of a tax increase. With today's news of a $136.5 million surplus in state coffers, now is the time to start talking about real tax cuts.
If we did that, we would be following the example of states like Rhode Island, Connecticut, New Mexico, and Arizona who have finally figured out that lowering taxes increases revenues by unleashing business activity.
UPDATE: Liberal blogger Mark Nickolas arrives on the scene to declare the $2 billion of bonded borrowing in the just-passed budget somehow responsible for the current budget surplus. Economic Illiteracy is NOT a family value, Mark.
