Posted on 08/25/2007 5:27:11 PM PDT by Tolerance Sucks Rocks
In another apparent effort to prepare Marylanders for looming tax increases, Gov. Martin O'Malley released a recorded statement to radio stations suggesting corporations and higher-income earners will be among those asked to pay more.
"When given a choice between decline and progress, the people of Maryland always choose to make progress," O'Malley (D) says in the message, which runs more than two minutes and was sent to more than 50 radio stations, an aide said. "Together we can overcome the deficit in our path, and we can get our fiscal house in order in a way that improves our state and makes us stronger." The state is facing a shortfall of nearly $1.5 billion next year, which O'Malley and leading lawmakers have said could require an increase in the sales tax, among several other steps, to help close. O'Malley also touts budget cuts his administration has already made in the radio message.
"Working with elected leaders in the General Assembly, we are also going to need to reform our tax system in a way that makes it more modern, more inclusive and more fair," O'Malley says. "Especially more fair for the working families of our state who have been taking it on the chin for the last few years. This will mean closing loopholes for big giant corporations and - yes - demanding that the wealthiest among us pay a fair share." O'Malley spokesman Rick Abbruzzese said the radio message was one of several that O'Malley has released to radio stations on important issues since taking office in January.
Separately yesterday, a coalition of environmental groups released eight proposals that they said could generate $706 million in savings and new revenue, some of which could be plowed back into environmental initiatives.
The biggest-ticket item -- stopping the Intercounty Connector, a planned highway between Montgomery and Prince George's counties -- is not likely to materialize. The group said halting the project, which O'Malley supports, could save the state $540 million next year. That money, however, would not help solve the $1.5 billion shortfall in the general fund because it is coming from a seperate pot of money devoted to transportation needs.
Other ideas proposed by the Maryland League of Conservation Voters and allied groups are likely to generate more debate. They include:
* Establishing a "green fund" that would impose fees on developers for "impervious surfaces." The proposal, which cleared the House of Delegates in a similar form this year but died in the Senate, could generate $100 million a year, the groups said.
* Increasing solid waste fees on disposal companies, generating $35 million.
* Ending a coal-mining tax credit, which could save $7.7 million.
* Establishing a wetlands permit fee for developers, generating $3.6 million.
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Just because everyone's rate is the same in Maryland does not mean everyone pays the same.
For example, say the MD state tax is 2 percent of annual income.
2 percent from someone who makes 200,000 dollars a year is considerably more than from someone who makes 20,000 a year.
When you combine this with the fact that MD unlike most other states has a county income tax, you see that we are one of the highest taxed states in the union.
Maryland is an affluent state and this increase is unnecessary.
Why not bring in slots like all our neighboring states have?
Why not reinvest in our horse racing industry that sets us apart from many other places for revenue?
Why not cut spending or become more effecient with our spending?
The reality is anyone who makes enough to be truly affected by this will be capable of avoiding it by having their lawyers figure out how they can maintain their residency at a vacation home in a cheaper state while continuing to do business in and profit in Maryland, just like Corporations do.
Thus as usual the increased burden will fall on the middle class who have enough money to be a target of tax and spend policies but not enough to afford the legal help to avoid it.
Kmart sheltered approximately $1.25billion in profits from 1991 to 1995 in a trademark-holding subsidiary.
The Limited, Express, Victoria’s Secret and other brand names under the same corporate umbrella sheltered nearly $1.2 billion in profits from state taxes over a three year period in the early 1990s.
World Com/MCI sheltered $19 billion in revenues in a Delaware subsidiary to avoid paying income taxes in Maryland and other states.
Toys R Us established a subsidiary in Delaware named Geoffrey, Inc, and transferred to Geoffrey the ownership of the Toys R Us name and other trademarks.
Syms (the discount clothing retailer) owns a Delaware-based subsidiary, Syl Inc.
Syl employs no one, produces nothing, and has one shareholder: Syms
Others: Walmart...Safeway...Comcast.... Viacom
I think anyone intelligent gets it.
Posted by cranky community curmudgeon at 6:01 PM
dems can “bite my fair share”
First of all, they already do. A lot more, in fact.
And secondly, what is this "asked" business?
PING!
Land o’ Peasant Living!
this guy sounds really presidential.
* Establishing a “green fund” that would impose fees on developers for “impervious surfaces.” The proposal, which cleared the House of Delegates in a similar form this year but died in the Senate, could generate $100 million a year, the groups said.
* Increasing solid waste fees on disposal companies, generating $35 million.
* Ending a coal-mining tax credit, which could save $7.7 million.
* Establishing a wetlands permit fee for developers, generating $3.6 million.
What Dim voters don’t realize is that corporations don’t pay taxes-they collect them. It’s simply the CODB to them, and it’s passed on to consumers. And, in the case of the previously mentioned list, costs would go up for housing, waste disposal, and electric utilities, among others. Dumb*ss Dims!
No S#!t, Sherlock. This guy is an intellect to be reckoned with!
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