Here is a collection of “must read” articles that could impact your wallet NOW!!
Senator Cardin’s proposal for a federal progressive consumption tax includes both a value added tax and an income tax. The income tax would be cut, not repealed. Adding another tax is likely to be the “camel’s nose under the tent” for ultimately higher tax rates with both income and consumption tax plans. At a “revenue neutral consumption rate” of 14.2%, Gross Domestic Product is expected to be a middling 2.6%. The Tax Foundation has prepared a thorough analysis of the plan, which is linked here: Cardin’s Consumption Tax Boondoggle
MTA comment: Not mentioned in this good article below about education: A little known effect of Thornton Plan rules harms rural counties even more. They must meet the state average of rising education appropriations mostly adopted annually by the larger, richer counties. These per student funds are some of the nation’s highest. Rural counties struggle to keep up. : Maryland’s Regressive Cost of Education Scam
The value of $100 in MD is only $90. Washington, DC, is worse at $84.96. Only three other states are worse, according to the Tax Foundation. They are California, New Jersey and New York. Why? Maryland is among the most regulated, highly taxed states pretty much across-the-board.
Maryland Takes Our Money
Tired of EPA mandates harming jobs for people who need them and making life more costly for people who don’t need the higher costs? Read 23 Things on Congress’ List to Defund in Interior and EPA!
Very interesting article written by Reihan Salam, a columnist for Slate.
What would an O’Malley presidency look like? Click here for the article.
Banks have been required to report to the federal government deposits of more $10,000 or more since at least the 1960s. The amount has never changed. Tellers inform their business customers of the rule, so many keep their deposits below the $10,000 amount. The IRS, however, never seems to rest at devising ways to get money. Too many legitimate businesses have been victims of asset forfeiture over this rule. Why has the $10,000 figure not risen with inflation? Has the IRS become the real criminal here?
Click HERE for full article.
MARYLAND TAXPAYERS ASSOCIATION
Many small businesses, partnerships, S Corporations and others file taxes through the personal income tax rather than the corporation tax. These are known as pass through payers. If they are in the highest graduated tax rate, they pay at a higher rate than Continue reading
From the Frederick News Post, February 10th:
Gov. Larry Hogan announced last week that he will establish, by executive order, a bipartisan commission to explore ways to reform Maryland’s disgraceful and undemocratic redistricting process. The goal is to create an independent, bipartisan commission to handle this important task.
For the full article, click here.
By Dan Bongino
Let me preface this piece by saying that if you have convinced yourself that the government, by taking more of our money through higher taxes, will make us all more prosperous, then you need not read any further. I have come to learn that any attempt to persuade the far-left “tax-and-spend” crowd is a fruitless endeavor despite the obvious disconnect between what these people say, and what they do. This piece is directed at ordinary Americans who, as evidenced by the mid-term election results, have lost patience with the “big-government-is-best” crowd.
For more, please click here.
(Published in the Baltimore Sun, December 16, 2014)
In recent years, Maryland has substantially raised tobacco taxes. Its current rates of $2 for a pack of cigarettes and 15 percent to 70 percent for other tobacco products like cigars are among the highest in the country. The state enjoys a huge …….
Click here for the full article
People vs. Government. HT: Pete Friedlander
The Obama Administration and Congressional Democrats passed the Affordable Healthcare Act by insisting that it was not a tax. We now know otherwise:
Click here for the article.
An analysis by Jeff Ferguson and Dee Hodges of the Maryland Taxpayers Association regarding the 50% alcohol sales tax increase from 6% to 9% concludes that, like the sales tax increase, the alcohol hike has resulted in a loss to both state revenues and private enterprises, including liquor stores, bars and restaurants. Continue reading
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