Taxation
The ProJo reports that the percentage of smokers in Rhode Island has gone from 22.4% of the population in 1999 to 15.1% in 2009. They identify this downward trend as coincidental to the indoor smoking ban and ever-increasing cigarette taxes. Imagine: increased taxes can act as a disincentive. Of course, if Rhode Islanders truly had…
I also had the opportunity to ask a sitting General Assembly member running for re-election, State Senator Frank Maher (R-Charlestown/Exeter/Hopkinton/Richmond/West Greenwich), what he thought of independent gubernatorial candidate Lincoln Chafee speaking for the General Assembly by saying…“If the governor is leading the way on the tax increase, the General Assembly is going to go along,”…
They come in all shapes and sizes. Don’t like any of them. Yes, indeed, not then and not now (and now). The labels or times may change but not the fundamental issue that any government big enough to give you all you want is big enough to take it all away. More on bizarre incentives…
[O/T preamble: though I made a petty point of changing my computer’s home page to Bing following upon Google’s dalliance with the Chinese government – no evil there – I have to admit that, maddeningly, Google still has the best search engine.] A July analysis in US News and World Report indicates that, of all…
Anywhere but Rhode Island, this would be unbelievable. Rhode Island taxpayers who filed for the six month extension to pay their taxes may have to pay up to 25% of their owed amount in additional fees plus 18% interest on the overdue amount (in comparison to the 5% interest that the federal government charges): The…
It’s as if, even when they’re claiming to be legislating on behalf of small businesses, Obama and the Democrats can’t resist binding small businesses: But under a little-publicized provision in the bill, mom-and-pop owners of triple-deckers, duplexes, condos and other such rental real estate will have to obtain the names, addresses and federal tax identification…
Perhaps it shouldn’t seem odd, but it’s still discouraging to see the editorial board of the state’s major daily paper offer up partisan spin as an unsigned editorial. Consider: The GOP argues that extending the tax cuts for the affluent is good for small business, which creates most new jobs. The Democrats, pointing to dismal…
To be fair, Kenneth Rogoff does maintain some balance: While tax cuts enhance long-term productivity, expanding the government sector is hardly a recipe for economic vitality. There are surely many useful activities for the government to undertake in a market economy, but a frenzied orgy of stimulus spending is not conducive to rational discussion of…
The Providence Journal’s still-new PolitiFact feature, with the market-hook Truth-o-Meter has generally been worth a perusal and sometimes a thorough read, although I’ve thought the journalists behind it could shoot for bigger targets much of the time. For today’s review of a statement by state rep. and congressional candidate John Loughlin (R., Tiverton), though, they…
There’s been some question, in the comments sections, about differing tax rates reported for property in Central Falls. John Hill explains what happened: Last year, the total value of residential, commercial and industrial real estate in the city was just under $685 million. The new valuation, based on sales figures from the past year, was…