Every year, every state projects upcoming state tax revenues. It matters a lot. These estimates are used by legislators, technocrats, and the governor to determine spending for schools, health care, and agency or program in government. Sometimes, when states are on a biannual budget, spending must determine spending for two years. Imagine trying to estimate […]
tax revenues
Iowa Projected Revenues Up Again
As expected, the Iowa Revenue Estimating Conference are estimating higher state tax revenues for the current and next year than previously thought. Last year, I predicted these revenue estimates would be underestimated. These models tend not to predict changes in the economy, so they tend to overestimate revenues during recessions and underestimate revenues during economic […]
y-axis at Zero
If your graphing for my class, or just in general, start your axis at zero. It seems trivial, but can have a large impact on the graph. This was apparent in a recent presentation by the Iowa Legislative Services Agency on budget revenues for the current year. Below is a graph (blue line) showing state […]