Thursday, June 11, 2009

End the Flat Tax!

The time for contacting your legislators to make those hard budget and lege decisions is NOW. The premise of the flat tax is that rich people will stay here & spend like crazy. So, how's that working out? Not that good it seems.

That sound you've been hearing is the sucking of our economy into bottomless quicksand. We are forfeiting hundreds of millions of $ in income for ??? Meanwhile the guv proposed to raise taxes on many middle income residents.

How many local residents use the flat tax? I'm so happy that you asked. Less than 15 in: Middletown, Tiverton, Little Compton, and Jamestown. 19 in Newport & 22 in Portsmouth. Almost off of these people earned over $200,000.

Where do most residents of the flat tax live? Well, besides NOT-HERE:

Providence 112
East Greenwich 77
Barrington 64
Cranston 54
Warwick 52
Lincoln 38
Cumberland 26
Bristol 25
North Kingston 24
Narragansett 18
Westerly 17

838 residents took advantage of this tax break. 1,429 non-residents did also. What? You mean you didn't get a major tax break from the state? Oops, guess you're just no special enough. Your lobbyist must have been sleeping.

Do I think that this will happen? It just might being that in involves so much in minus revenue. I think that the least that you will witness is the freezing of this tax benefit rather than it's being phased in using ever-decreasing % tax rates. Really, how do you justify job losses, loss of health benefits for the poor and elderly, etc. for what amounts to a lucky few & the members of the lucky sperm club?

C'mon. Click here for the necessary info with e-addresses. Let them know how you feel even if you don't agree with me. Don't leave it up to others. They LIKE to hear from you- take my word for it. You'll likely even get a quick response thanking you for your input.

Think that your property taxes (and various fees) will go up next yr.? Wait a year- you ain't seen nothin' yet.

$45.7 mil- that's the current hit that our State has taken with the implementation of this tax. That's a lotta lobsta rolls!

"Eliminate the Expensive Flat Tax. $23.4 million this year was given to 4,384 individuals, 2,500 of whom do not live in Rhode Island. All of these individuals earn more than $336,550 per year. The rational is that these households build jobs in Rhode Island . This is debatable. What isn't debatable is that re-building our economy depends on the ability of low- and moderate- income families to spend locally. In these tough times, we can't afford the flat tax." (source)
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