Deval’s Tax Plan: Workers Pay More, Deadbeats Pay Less

Discussions about the the ridiculous tax evaluations alot of homes received during this recession. (Great timing). Also, any discussions about taxes at all.

Deval’s Tax Plan: Workers Pay More, Deadbeats Pay Less

Postby Wayne Knight on Thu Jan 17, 2013 10:03 am

This is just a parting "screw you" from Obama's Mini-Me before he leaves next year to run for President in 2016.

http://michaelgraham.com/deval-patricks ... -pay-less/

Deval Patrick’s Tax Plan: Workers Pay More, Deadbeats Pay Less

Posted on 01/17/2013

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“You work for a living? SUCKER!”


Just three years after pushing through an $800 million sales tax hike, Gov. Patrick has now decided the whole thing was a mistake. He wants to drop the sales tax down to 4.25 percent, and replace it with a $2.8 billion increase in income and business taxes.

Now, I opposed the sales tax hike because Beacon Hill had been giving themselves about a 7 percent spending increase year after year, every year, and I said at the time they needed to spend less money, not collect more taxes. But the one good thing about a sales tax is that everyone–including illegal immigrants and EBT users–pays. We’re all in the sales tax boat together.

Now comes Gov. Patrick saying his own sales tax hike was a mistake, and instead he wants to go after income. And who pays income taxes? People with jobs. Jobs on the books, that is.

Simply by making this change, Patrick is painting up workers as tax targets, and doing a favor to the underground economy. But Patrick’s punishing workers and earners even more:

To “make that increase fair,” Patrick also proposed doubling the personal exemptions for every taxpayer and eliminating a number of itemized deductions. Those changes are intended to make the tax code “simpler and fairer,” he said.

The personal exemptions, which reduce the amount of a person’s income that is subject to tax, range now from $4,400 for an individual taxpayer to $6,800 for a head of household to $8,800 for a married couple filing jointly. They would increase to $8,800, $13,600, and $17,600, respectively.

Translated into English, Gov. Patrick is going to punish two-income suburban families with middle-to-high incomes (and high expenses) by taking away their deductions and, therefore, driving up their income taxes even more. It’s not just that your income tax rate is going to jump by around 25 percent, it’s that you’ll be paying that tax on more of your income. And if you own a business, you pay higher taxes while earning the money, then higher taxes again once you write yourself a paycheck.


As a result…

While average taxpayers who earn less than $37,523 would see a $100-to-$200 tax cut, everyone else would pay higher taxes. Those who earn more than $102,886 would bear the brunt, paying an additional $3,200 a year in combined income and sales taxes.

And what is this $2.8 billion net income/business tax hike going to? On choo-choo trains to New Bedford and raising the $80,000-a-year average salaries for Boston school teachers.

If you’re a professional, if you’ve invested in a college degree so you can earn $40,000 a year or more, you really have to re-consider whether or not using that education and investment in Massachusetts continues to be worth it. You were already paying most of the tax bill. If Patrick gets his way, soon you’ll be paying all of it.
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Re: Deval’s Tax Plan: Workers Pay More, Deadbeats Pay Less

Postby bferrari on Thu Jan 17, 2013 12:28 pm

As I quietly suspected all along.

The "definition" of what "rich" means to certain people is 100,000 a year, not the 250,000 a year for this fiscal cliff nonsense.

Taxation will start off at the higher bracket but will eventually hit most working people, as is proof of this latest article.
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