I've heard estimates that MVET accounts for 1% of revenue, all the way up to 10% of revenue.

Just what IS the figure, anyway? What % of the budget WILL we lose?

WA resident

-- WA resident (WAres@my-deja.com), August 01, 1999

Answers

The posting of WA Department of Revenue data presents information taken from the "Tax Reference Manual" published Jan 1999. This information can be found at (www.dor.wa.gov/reports) Then look for Tax Reference Manual. Page overview-2 gives total state and local revenue to be $35,765.1 billion. On page 132 the MVET collected for that year is $654.5 million. Therefore the

% MVET = 654.5/35,765,100 x 100 = 1.8%

-- RD (Monte) Benham (rmonteb@aol.com), August 01, 1999.

Question to Monte. I know we have 'off-budget' expenditures. Do we also have 'unreported revenue'? Like every type of fine that might be levied for any reason. Do those go into the figures or are they just tucked away somewhere and not counted as revenue?

-- maddjak (maddjak@hotmail.com), August 01, 1999.

There are funds that go into the general fund, and there are funds that are collected exclusively for a particular program, and cannot be shifted around. Then there are federal matching funds, and federal block grants.

So, what's the ACTUAL percentage of the MVET hit to the budget?

WA resident

-- WA resident (WAres@my-deja.com), August 01, 1999.

It is important to remain focused on the I-695 main message. (1) Washington State is the 6th highest taxed state in the nation (www.lowertaxes.nu then click on May 17 to view the listings by state as compiled by the Tax Foundation)

(2) The Mvet represents 2% of the total state and local revenue collected.

(3) Washington has a growing surplus approaching $1 billion. The state can redirect the surplus anyway they wish to make up the loss.

(4) I-695 will stimulate our economy with this tax cut.

This year the state increased it's budget by 11%. To see more information on this go to www.effwa.org and look at the July 32,1999 press release. This is the Evergreen Foundation's web site. They have reported on a number of items regarding overtaxation by the state and wasteful state spending.

Here is a reply to the two previous posts.

(1) Fines, etc show up as revenue on county and city records.

(2) All revenue received by the state and county comes from the taxpayer. That is why the I-695 campaign uses the 2% of all revenue collected by the state and local communities. I have presented the data presented by the WA State Dept of Revenue (1.8% of revenue) to back up this claim. There are other measures if you care to look them up. It requires you looking at your city and county budgets. They are available at your local library. The items to look for are: a. The total budget b. The amount of reserves (including reserves invested) c. The MVET revenue received by the state. It will take a little effort to find this item because are so many other taxes collected. If you are dillegent you will find the MVET revenue. Then compare it to the amount of reserves. You will find the reserves will adequately handle the loss in MVET. When you find this data, please post it on this forum. Here are some data for the Tri-City area.

City Budget MVET % MVET Reserves Richland $ 127,391,017 $ 479,917 1/3 of 1% $17,091,631 W Richland 8,195,695 85,000 1% 1,214,148 Kennewick 76,250,000 1,490,000 2% 2,500,000+ Benton County 83,220,000 900,000 1% 5,000,000+

B-F Transit 13,356,098 6,179,586 46% 12,300,343

-- RD (Monte) Benham (rmonteb@aol.com), August 01, 1999.

I think that focusing on reserves or a budget 'surplus' to replace the MVET is what is causing consternation among the supporters and the detractors.

The real point is: The government is wasting millions and even billions every year on useless projects and studies.

Losing the MVET money should force them to clean house and get rid of the burdens they keep piling on us.

Some things may be needed but I believe a lot of things aren't even WANTED let alone NEEDED.

-- maddjak (maddjak@hotmail.com), August 02, 1999.