Taxation
From the Wall Street Journal At last, there’s a place in America where tax cutting to promote growth and attract jobs is back in fashion. Who would have thought it would be Maine? This month the Democratic legislature and Governor John Baldacci broke with Obamanomics and enacted a sweeping tax reform that is almost, but…
Everybody wants to nix the flat tax in Rhode Island: The dispute has drawn the interest of a host of powerful players — labor unions, mayors, and a coalition of elected officials — who hope to repeal the high-profile tax break that benefits 2,267 Rhode Island taxpayers. Supporters want to funnel the savings to the…
Over at RI Future, Pat Crowley doesn’t seem quite up to speed on the public budgeting process occurring in most Rhode Island cities and towns. Mr. Crowley assumes that last week’s announcement that there will be no general revenue sharing in FY2009-2010 means that city and town governments will have to “re-raise” taxes.… If the…
In any kind of system–computers, manufacturing, planned maintenance, what have you–the importance of a “feedback loop” is recognized. Basically, you have a process or method in place and you want input as to how well it is working. “Good” feedback often necessitates a change in operating process or, possibly, system design. In yesterday’s ProJo, John…
One must laugh out loud, if only to keep from crying. Here go Rhode Island legislators toying with making tax code more complicated and less beneficial to taxpaying corporations, with a tinge of state tinkering with the shape of the economy (i.e., what sorts of businesses it rewards): Current law generally allows the tax break…
There’s a familiar sound to status-quo argumentation that Matt Welch’s highlights among those who lament that “petulant voters failed to heed the weary wisdom of their betters” in California: Calfornia lawmakers, and the unions who put them into office, will do everything in their power to cut services first, employees last. That is indeed a…
I’ve got my reservations about Governor Carcieri’s tax proposals on the grounds that they don’t go far enough, especially in extending their effects to middle and working class residents. But some of the objections from the other side should inadvertently direct Rhode Islanders’ attention to the underlying problems of the state: Karen Malcolm, executive director…
Laws should be enforced (or stricken or modified if they will not be), but there’s something unseemly — extortionate — about this: The state in April increased the excise tax on cigarettes by $1, to $3.46 a pack, the highest in the country. The move has obvious health benefits, but it also aims to generate…
Tom Golisano puts high local taxation in perspective — the individual’s perspective, that is: Last week I spent 90 minutes doing a couple of simple things — registering to vote, changing my driver’s license, filling out a domicile certificate and signing a homestead certificate — in Florida. Combined with spending 184 days a year outside…
Here are the details of the new income tax brackets contained in the state budget that Governor Carcieri submitted to the General Assembly (Article 38)… RI TaxableIncome Over But not over: Pay + % on excess Amount over: $0$55,000 $0+3.5% $ 0 $55,000 $110,000 $1,925+4.0% $55,000 $110,000 $175,000 $4,125+4.5% $110,000 $175,000 $7,050+5.5% $175,000 However, there…