Gov. Jerry Brown’s (D, CA) new budget: more spending and higher taxes!
To summarize: $92.6 billion in spending (7% increase over last year’s); $9.2 billion deficit over eighteen months (half in the first six months, the other half in the next twelve). Brown is requesting $7 billion in new taxes, mostly from raising the sales tax again (to 7.75%) but with a faux-populist-friendly soak-the-rich* (actually, soak-the-small-business-owner) increase to 10.3%. Or the state can ‘cut’ an additional $4.8 | Read More »
Maryland planning more stealth tax hikes on poor?
In a socially-acceptable way, of course: ie, via another hike in the tax on tobacco. The “Maryland Citizens’ Health Initiative” – a name whose hint of subtle menace should make small-government types involuntarily shiver – looking to raise it by a buck a pack, because… well, pretty much because they want people to quit smoking, and taxing it through the ceiling is supposed to accomplish | Read More »
No more kicking the tax hike can.
The fascinating thing about the upcoming Obama tax hikes – and I imagine that the irony that if the Democrats had just made Bush’s tax cuts permanent in the first [place] then they wouldn’t be in this mess right now hasn’t been lost on the Democratic leadership* – is that they’re hardly inevitable. The current ratio is 255/180 Democrat/Republican in the House; 58/41 (Kirk needs | Read More »
House Democrats: half-trillion tax hike for Obamacare.
(Via Texans for Sarah Palin) But it’s tax hikes for the wealthy (540 billion over 10 years), so that’s all right, right? At least, it’s tax hikes for the wealthy today. And what gets redefined as ‘wealthy’… Key House Democrats decided Friday to raise taxes on the wealthy to help pay for health care legislation, capping an up-and-down week for President Barack Obama’s top domestic | Read More »
New York to tax top earners.
To sum up the New York Times article: New York Democrats in the Assembly have come to an agreement with New York Democrats in the Senate and the New York Democrat in the Governor’s office to raise state taxes on all incomes above $300,000/year. This is felt to be the best way to handle the looming 3.2 billion deficit in taxes from the previous projected | Read More »