According to Brad Bumstead, that's the plan for tomorrow, when Governor Tom Wolf releases next year's budget. He reportedly will increase the state's personal income tax by 20 percent, as well as a 10% hike in state sales tax. This is supposed to fund a reduction in property taxes, kinda' like the casinos. I notice taxes never really go down.
This is all speculation right now, although the Inky hints it will be "big, bold and controversial."
11 comments:
Will he mandate that rent goes down? Or is this a bigger blow to those of us that rent and cant get a loan cause our wages are so low to start with?
The Governor will propose these tax increases, and the legislature will defeat them, blaming the "tax and spend" philosophies of the Democratic Party. When, in reality, an increase in the sales tax to fund public schools, and reduce the tax burden on the homeowner is a no brainer. It's high time that those who contribute NOTHING to funding education should do so. We don't need lame excuses like "the working poor will have even less", because if you are on food stamps you don't pay sales tax on those purchases. Those who pay nothing utilize the school system as much as, if not more, than those who do pay.
Excuse me? Im not on food stamps. Im not on any assistance. I work for the government. And who do you think pays for school taxes when I rent a place? You think it's the home owner? No! That goes tax into the rent they charge me. If their taxes go down they better damn well lower the rent.
Rent controls tied to property tax decreases actually makes sense and is logical. Here is the problem, the teabaggers will go nuts. If the taxes go through in any form for any amount, and if they are used for property tax reduction it may just be for primary residence and not affect rental property. However, if it does, I would support certain rent controls.
That being said the taabaggers would go nuts over any type of relief for renters. You know "free market" and all that.
So we shall see. Chances are there will be no increase. Maybe a slight sales tax offset.
the rent control individuals are not taking into account now the added cost from the sales tax that would affect everything a landlord now purchases for the building including utilities, maintenance items contracts etc.
I am wondering for your average rental if the costs would actually go up vs. any potential re tax relief
Will Wolf Raise Income,Sales Tax?
He's a Democrat. Of course he will.
No greater myth about Republican agendas than "lowering taxes", they lower one and force others to raise a more local tax on you.
Let's see what the Governor proposes, not what a knee-jerk partisan claims to keep the idiotic uninformed base in check. (Which is what happens when only mostly elderly imbeciles vote. Shit in, shit out).
I am curious to see the specifics of his proposal on raising the income tax. When I had the opportunity of having an hour-plus long conversation with him before the primary, an idea he was exploring then was to raise the income tax, which would apply to all because of the Commonwealth's constitutional uniformity requirement, but have a sliding tax credit based on income. The de facto result would be a progressive income tax, with the lower brackets remaining at the current rate, and higher rates applying for higher brackets. This specific idea may have fallen by the wayside since then for any number of reasons, but I am curious if his overall "progressive tax" objective remains in the totality of his proposals.
". When I had the opportunity of having an hour-plus long conversation with him before the primary,"
Very cool.
It was cool, though lucky happenstance, really. I somehow won a contest to "have dinner" with him. And it really was just he, my college-aged daughter, and myself throughout the dinner at a local restaurant. I was impressed that it was a genuine two-way conversation, and not a short photo-op. Door-to-door, we were with him for about an hour and 45 minutes.
Very cool.
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