* Temporarily raising the personal income tax rate to 5%, from 3%.
* Temporarily hiking corporate income taxes to 8%, from 4.8%.
* Increasing the tobacco tax to $1.98 per pack, up from 98 cents.
* Providing a property tax rebate of $325, rather than an income tax credit of 5% of property tax.
* Imposing a moratorium on new programs with spending growth capped at 1% per year, with the exception of increased school aid of more than $700 million.
* Borrowing $8.5 billion to clear the current stack of unpaid bills.
* Borrowing $3.7 billion for the fiscal 2011 pension payment.
Fuck that, just declare bankruptcy and start over.
I saw a thread about this part... somewhere. Don't remember:
"Temporarily raising the personal income tax rate to 5%, from 3%."
The news article quoted said "Personal income tax increases by 75%." The people in that thread were bashing the obviously right-leaning journalist, because clearly that is a 2% increase, not a 75% increase. He was just being sensationalist and fear mongering.
Sigh.
"Be bold, and mighty forces will come to your aid."
* Increasing the tobacco tax to $1.98 per pack, up from 98 cents.
DAMN. Over double. There will be a day when a pack of smokes costs fucking $20 because 90% of the cost is going to be taxes.
I'll say it again, if they're going to milk addicts for all the cash they're worth, why not legalize other drugs as a means of income? The gov't bitching about the cost subsidized health care for smokers has been one the chief arguments for fucking tobacco industry at every available lawsuit. Stop playing it both ways, assholes.
* Temporarily raising the personal income tax rate to 5%, from 3%.
Temporarily my ass.
Edited By Malcolm on 1294782482
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
GORDON wrote:"Temporarily raising the personal income tax rate to 5%, from 3%."
The news article quoted said "Personal income tax increases by 75%." The people in that thread were bashing the obviously right-leaning journalist...He was just being sensationalist and fear mongering.
Florida is 0%, but they make it up when you go to get a new license and license plates.
California, Illinois, and New York are all in financial trouble right now. I'm sure it's just a coincidence that they're all Democrat strongholds.
“Activism is a way for useless people to feel important, even if the consequences of their activism are counterproductive for those they claim to be helping and damaging to the fabric of society as a whole.” - Dr Thomas Sowell
Missouri's 50th? The least tax burdened state? Are you shitting me?
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
And I knew SD had to be low. I couldn't figure out where they made their money; no state income tax, driver's license cost $20, and license plates cost $20. No luxury tax on vehicles.
Maybe gambling revenue? Don't know.
"Be bold, and mighty forces will come to your aid."
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Hmm. The ways by which these states arrived at their positions on that list somewhat intrigue me.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."