Spring 1977 |
Home
Newsletters
Summer 1977 | Autumn 1977 |
How Much Do We Want Equal Rights? Charting Our Course Inside... Collective Bargaining 1977 Convention Wrap-Up: A Look at Hawaii's Present Economy Excerpts (Jerry Hess) Resolution Presented and Passed at State Convention (Adeline Schutz) Convention Business State Board National Energy Conference Statement of Position CZM Grant ERA Means Equal Rights for Men and Women |
1977 Convention Wrap-Up: A Look at Hawaii's Present EconomyEileen Anderson addressed the reciprocal relationship or the state's economy to the State budget and vice versa. Over the past ten years, income to the state government has increased from $204 million to $604 million. The annual rate of increase has ranged from 4;Z in lean years to 20% in good times. The projected increase for this year is 7%. Most of the income to the state comes through taxes: 50% of the general funds from general excise, 32% from income tax, and 4% corporate tax. Obviously in a good business year, income to the state is abundant and state programs can be expanded or new programs developed, which employ a large number of people. the opposite is true in a lean year. Laws that are passed also effect the business community and therefore the economy. Balancing the scale is tricky at best! Wesley Hillendahl took issue with the previously mentioned point about the effect of law on business. He said that what we really talk about when we speak of economics is political economics: that various laws dictate the course of the economic activity in the state and country as a whole. He was upset with how far away decisions were being made which affect our local economy. San Francisco (Federal regional office) and Washington, D.C. are taking taxes from localities, but not necessarily returning those dollars in services to the people from which they came. (People in other states are receiving services which we pay For and vice versa.) He emphasized that in any economy "productivity is the key". For Hawaii, he said, we must become an exporting community to maintain our standard of living, that self-sufficiency would be a self-defeating goal.
|
Spring 1977 | Top Home Newsletters | Autumn 1977 |