Taxation
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…
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…
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…
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…
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…
I’ve been following taxpayer migration data for years, but in a haphazard way. A new study that I’ve coauthored for the RI Center for Freedom & Prosperity finally gave me the opportunity to review all fifteen years of available data from the IRS. The picture — from the 2003 beginning of what can only be…
While President Obama attempts to frame the lapse of the “Bush tax cuts” in 2013 as a supposed return to the norm–with plenty of help from the media, who have accepted the premise that the extension of current tax rates are actually revenue “losses” should they be “extended”–he also recognizes that it would be political…
I’ve been sitting on this article for a few days because I couldn’t think of the best way to write about it. I guess in many ways, it’s just so obvious that there isn’t a whole lot to say. I’ll just throw it out there. On June 30, the NY Times published the article: How…
Unless I missed some language, the Supreme Court’s ruling on ObamaCare shirks the responsibility of explicitly defining exactly what sort of tax Congress has imposed and how similar taxes might be structured in the future. Still, a thread can be followed. Having just read through the tax-related sections of the ruling, and although the logic…
For reference from an upcoming post, but also interesting in its own right… This table shows the residential property tax levy in each Rhode Island municipality, as a percentage of aggregate income in that municipality, as reported by the census bureau. The details of residential property tax levy, involving the separation of residential from commercial…