Taxation
This past Monday, the Projo‘s Neil Downing concluded his story on the Rhode Island Public Expenditure Council’s analysis of the state budget with this note…RIPEC also urged that the state review the range of fees it charges. The group said that, when compared with other states, Rhode Island ranks near the bottom regarding income from…
Or vacations. Or home remodeling. Or a down payment. Whatever a second home mortgage will buy. Today’s Washington Post reports that taxpayers will be picking up part of the cost of these goodies for distressed (second) mortgagors. The Obama administration unveiled an expansion of its $75 billion foreclosure prevention plan yesterday, providing new subsidies to…
David Goldman (aka “Spengler“) writes in First Things: After a $15 trillion reduction in asset values, Americans are now saving as much as they can. Of course, if everyone saves and no one spends, the economy shuts down, which is precisely what is happening. The trouble is not that aging baby boomers need to save.…
Conversation at a local gas station/convenience mart. {Sound of multiple police sirens in back ground} Store Attendant: “Go get ’em, guys. Make some revenue!” Customer:”They have to get it somehow.” Attendant:”Yup, they do. Wait ’til the road gets repaved. People will be going 90 mph down the road. They’ll be stopping them then. They get…
In case you missed it, a Tea Party broke out in Woonsocket the other day (h/t). As reported by WPRI: Woonsocket’s City Council has voted against a supplemental tax bill that would have raised property taxes by eight percent. Councilors took the vote late Monday night, following testimony from dozens of residents. Council members said…
Put your wonk hat on. Economists Brian Wesbury and Robert Stein write: While the theory of public choice can be broadly applied, it is the ideas of “special interests” and “rational ignorance” that are useful in understanding last week’s tea parties. Here’s an example of public choice at work. Let’s say teachers could benefit by…
Further to Justin’s post “Don’t Let Them Convince You …” and in the spirit of non-partisanship, a quick review of the original impetus for the Tea Parties is in order: Two administrations. Two Congresses. An incomprehensible level of spending. The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount…
From the Providence Business News: From 10 a.m. to 8 p.m., a group of activists plan to greet tax filers at the Corliss Street post office to protest the cost of the war in Iraq and the defense budget. The groups that will be represented include the American Friends Service Committee, Ocean State Action, Declaration…
Under “Fiji: Undemocracy in Action”, commenter Joe B reminds us that Fiji is a tax haven for many, including the family of the senior senator from Massachusetts. The Obama administration and some members of Congress would like to begin cracking down on tax havens by giving … U.S. regulators the authority to take special measures…
Under Justin’s post “Because They’re Better than You” about the Chief Justice’s nifty office renovation, commenter EMT points out that … part of the cost was due to the historic status of the building. Respectfully, regretfully, is it possible that we can’t afford to keep or maintain historic buildings? The renovation of Justice Williams’ office…