May 1, 2010

Speeding Tickets, Job Loss, and My Neighbor’s House

Posted in Uncategorized tagged budget speeding tickets, Economic Policy Institute, increase speeding tickets, job loss and foreclosure, lower tax revenue, speed ticket cushion, speeding citations, Speeding tickets recession, state and local recession, state revenue decrease, state trooper speeding tickets, traffic tickets, USA Today speeding tickets at 5:38 pm by bowmansmoneycollege

Remember back in 1984 Sammy Hagar was singing “I Can’t Drive 55”? Well, it looks like Sammy is going to have to learn how. There have been an increasing number of reports that suggest more speeding tickets than usual are being issued. Have you seen more police watching traffic on your way to work or school? Why have speeding tickets been making the news more often? And if there really are more tickets then usual being issued, what is the reason?

-There are more stories about speeding tickets being issued
-States and localities are faced with severe revenue shortfalls in the billions
-There is a tax revenue shortage ripple effect stemming from the disaster of 2008 and 2009
-Unemployment and foreclosures in 2008-2009 mean lower property and income tax collections this year
-There is a politically safe way to raise additional revenue and address the tax collection shortfall

Learn more here.

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