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Posted: Tue Jan 11, 2011 3:56 pm
by TheCatt
Possible tax hikes
* 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.
Posted: Tue Jan 11, 2011 4:28 pm
by GORDON
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.
Posted: Tue Jan 11, 2011 4:47 pm
by Malcolm
* 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
Posted: Tue Jan 11, 2011 5:19 pm
by thibodeaux
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.
Yeah, it's only 66.667%
Duh.
Edited By thibodeaux on 1294784394
Posted: Tue Jan 11, 2011 6:11 pm
by TheCatt
On 2nd thought, 5% is lower than our state tax rate of 7.75%
Posted: Tue Jan 11, 2011 6:21 pm
by GORDON
It's way more than Tennessee's 0%.
And South Dakota's.
And a few others I can't think of... but I want to say Texas and Wyoming are two.
I don't know why some states can operate off of 0% state tax and others can't get by on 5%.
Posted: Wed Jan 12, 2011 8:49 am
by Leisher
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.
Posted: Wed Jan 12, 2011 10:28 am
by TheCatt
Tax Burden by state
Illinois #14
California #6
New York #3
NC #28
Ohio #18
Posted: Wed Jan 12, 2011 11:41 am
by Malcolm
Missouri's 50th? The least tax burdened state? Are you shitting me?
Posted: Wed Jan 12, 2011 11:48 am
by GORDON
MS was 50, MO was 33.
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.
Posted: Wed Jan 12, 2011 12:23 pm
by Malcolm
MS?
Posted: Wed Jan 12, 2011 1:10 pm
by GORDON
Yeah, isn't that Mississippi?
Posted: Wed Jan 12, 2011 1:13 pm
by thibodeaux
Yes.
Posted: Wed Jan 12, 2011 1:58 pm
by Malcolm
GORDON wrote:Yeah, isn't that Mississippi?
Hmm. The ways by which these states arrived at their positions on that list somewhat intrigue me.