Rick Scott's 7-Step Economic Plan for Florida is political BS

Rick’s Scott has a comprehensive 7-Point economic plan to give Florida’s economy a “fresh Start” and put Floridians back to work will generate:

* 700,000 jobs--Florida is a leader in national unemployment and most economists say the unemployment won't improve until 2011.

* $74 billion in state GDP--Florida's GDP was  $14,165,565 and actually declined 1.6 per cent from 2007.

* $41 billion in higher personal incomes. In 2010, Per Capita personal income was $39,070, ranking 45th in the nation. Florida personal income is estimated to be $715,605,000 in 2008. See http://www.docstoc.com/docs/4908755/Florida-Per-Capita-Personal-Income-History-and-Forecast-In

* $1 billion in total state tax revenues as a direct result of the increased economic growth. Scott would have to revamp he Florida infrastructure that is built upon retirees incomes, services and tourism. This is easier said than done.

The 7 Points include:

1. Accountability Budgeting. Scott will get into conflict with the Florida legisilature,  who really controls the budget.

2.  Reduce Government Spending. Scott wants to privatize prisons, make prisoners into farmers who grow their own food, reform welfare one more time with drug tests, reduce the state work force that is already the smallest in terms of per capita in the US, reform Medicaid, a federal program, and veto Turkeys or ear marks.

3. Regulatory Reform. Scott has some radical ideas for tort reform, making unemployment benfits 'more affordable," reforming workers compensation one more time and having a regulatlry freeze.

4. Focus on Job Growth and Retention. There is a lot of fluff here. Scott wants local economic development offices are central to job creation and retention in our state. This sounds a lot like the existing Workforce system that is resposible for unemployment.

He also wants to 'nurture' new cutting-edge technology clusters  and world class universities. The lack of an industrial-technical infrastructure in Florida has been problematic for years. The legislature just cut the Bright Furtures Scholarslhip program which will make it harder for Florida students to go to college.

6. Reduce Property Taxes. Reduce the statewide property tax (RLE) by $1.4 billion (from 5.29 mills to 4.2 mills, a 19% reduction in RLE). This is unrealistic because Florida has no state income tax. Municipal taxes are the source of most of the state's revenues.

7. Eliminate Florida’s Business Income Tax Over Seven Years. In a state that has marginal tax revenues, this seems unlikely. Rick Scott is likely to leave the state in more red than any governor in it history. Rescinding the Florida corporate tax is a good idea because only 5,000 Florida corporations pay it.

Rightardia's predictions. Scott is likely to bring the GOP down in the 2012 and 2014 elections.  He doesn't seem to understand that conservative business principals won't work in a state that conservatives have controlled forr the past 12 years. 

Rightardia doens't understand why the Democrats didn't use a time for change theme after 12 years of GOP control of the statehouse and the governor' mansion.  Florida governors cannot be recalled, so Scott will leave office after 16 years of GOP rule. 

Rightardia will check back from time to time to see how Scottnomics is working. 

sources: Wikipedia and http://www.floridataxwatch.org/archive/hfc01.html

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