Here is a bit of good news for Texas taxpayers and perhaps even taxpayers from around the world.
Texas Republican Governor Rick Perry plans to use his State of the State Address to propose amending the Texas Constitution to allow the government to give citizens its money back that is unspent.
Perry, who was a 2012 presidential candidate but lost support after a series of gaffes, will tell lawmakers that the government shouldn’t spend more if it collects more. If there is any money left over from the budget, it should be given back to the taxpayers.
“Today, I’m calling for a mechanism to be put in place so when we do bring in more than we need, we’ll have the option of returning tax money directly to the people who paid it,” the governor stated in his speech. “Currently, that’s not something our constitution allows. We need to fix that.”
In most cases, if the government has more money than it spends, it usually keeps it as part of a surplus and either puts it in reserves or spends it. The federal government doesn’t have to worry because it will never have a surplus and it will always spend more.