Taxation

Cato Gives Governor Chafee a D in Fiscal Policy

By Justin Katz | October 10, 2012 |

In a white paper out yesterday from the Cato Institute, Governor Lincoln Chafee (as the chief executive of the Rhode Island government) received a score of D for fiscal policy.  His score of 41 is based on spending, revenue, and tax changes that he proposed and/or that were implemented under his watch from January 2010…

Tiverton Toll Meeting Shows Rhode Islanders Have to Stop Fighting Fire with Paper

By Justin Katz | September 28, 2012 |

Last night, I attended the first organizational meeting for the Tiverton branch of Sakonnet Toll Oppostion Platform (STOP), a cross-community effort to stop the state of Rhode Island from placing a toll on the Sakonnet River Bridge.  If I was skeptical about the ability of residents to prevent the tolls before, I’m pretty well convinced that…

Even a 100% Tax on Millionaires Wouldn’t Close Federal Deficit

By Marc Comtois | September 24, 2012 |

“Even if the government took all of the income earned by those who have an after-tax income of $1million or more, the amount of revenue generated would fall far short of eliminating the deficit.” More related charts here.

House Makes it easier for Buffet, billionaires to pay down Federal debt

By Marc Comtois | September 20, 2012 |

The House of Representatives–on a bi-partisan voice vote–passed the “Buffet Rule Act”, which allows anyone to voluntarily pay more in taxes. Under the legislation, which would still need Senate approval, taxpayers could check a box on their taxes and send in a check for more than they owe to the IRS. “If Warren Buffett and…

Things We Read Today, 1

By Justin Katz | September 3, 2012 |

One thing I’ve learned, in years of blogging, is to be wary of proclaiming new regular features.  Yet, I’ve been finding myself at the end of each day with a browserful of tabs of content on which I’m inclined to comment. So, as interest and time allow, I’ll publish quick-hit posts containing commentary that is…

Leaning Against the Privileged Place of Investments

By Justin Katz | September 3, 2012 |

Readers shouldn’t be surprised to hear that I’m largely in agreement with Peter Ferrara’s “Obama’s Accelerating Downward Spiral for America,” but he happens to voice one bit of center-right common wisdom with which I have growing disagreement: There is no secret or magic as to how to turn around these declining incomes.  Increased investment in business…

Note To GoLocalProv: RI “Rich Pay Less In Income Tax” = Third Highest Income Tax Rate In Country

By Monique Chartier | August 27, 2012 |

GoLocalProv’s Dan Lawlor has a column today in which he attempts to causatively link Rhode Island’s top income tax rate to our unemployment rate. In 1997, during a boom economy in RI- remember the Renaissance? – the top income earners had a 27.5% income tax rate. Our jobless rate was 5.3%. Ah, but then, in…

When I Grow Up, I Wanna Be a Crony

By Marc Comtois | August 24, 2012 |

I can’t confirm if this was filmed in Rhode Island or not (h/t): “I’m gonna fight for MY piece of the taxpayer pie.” “What’s a crony?” “It’s like having a best friend who gives you other people’s stuff.” “We take care of our friends.” “We get to spend taxpayer money any way we want.” “Why…

Legislative Votes For and Against Tolls on the Sakonnet River Bridge

By Justin Katz | August 10, 2012 |

Rhode Islanders, mainly from the East Bay, have organized a protest at Clements Market in Portsmouth, this afternoon, against tolls on the Sakonnet River Bridge. The hope is that the language that the General Assembly passed into law, this session, as Article 20 of the budget bill (7323Aaa) can be reversed. That article and the…

Rhode Island To Offer Tax Amnesty

By Monique Chartier | July 19, 2012 |

Governor Chafee’s spokeswoman, Christine Hunsinger, confirmed this morning that one of the items in the FY2013 budget was a tax amnesty program. It will run from September 2 to November 15, 2012 and will apply to state taxes including income, sales, use, and unemployment insurance. Note that while monetary penalties and prosecution will be waived…