• Tag Archives taxes

  • FISCAL CLIFF DEAL: $1 IN SPENDING CUTS FOR EVERY $41 IN TAX INCREASES

    Posted on by Azrael Comment

    According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion–a 41:1 ratio of tax increases to spending cuts.

    When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts–cuts that never ultimately came–they did so at ratios of 1:3 and 1:2.

    http://www.megalextoria.com/forum2/index.php?t=msg&goto=31141&#msg_31141


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  • Internet sales tax bill filed in Florida legislature » Megalextoria: News and Politics

    Posted on by Azrael Comment

    This may be the last holiday shopping season that online retailers aren’t required to charge Florida shoppers state sales tax.

    A bill filed in Tallahassee would allow the state to begin collecting the 6-cent tax from online shops.

    Currently, online retailers without locations in Florida don’t have to collect state sales tax. But that could soon change, with state Sen. Gwen Margolis bill filing.

    “Our whole revenue source is sales tax in the state of Florida,” Margolis said in a phone interview Monday. “The state of Florida is losing jobs and money because people have been shopping online all year.”

    The state’s cut is 6 cents on the dollar. That means when online retailers don’t collect the tax, they can offer their customers lower prices than their brick and mortar competitors.

    The disadvantage has caught the ire of the Florida Retail Federation.

    “Let’s move on. Let’s quit competing unfairly based on a tax. That’s not what you do,” said Rick McAllister, of the federation.

    This is the sixth year the bill has been filed in Tallahassee, and sponsors believe its time has come. Support among lawmakers is growing, but concerns remain over whether or not collecting the money owed can be considered a tax increase.

    Senate President Don Gaetz is against the bill, but says if it were to pass, he’d like to see other taxes decreased to keep the collection revenue neutral.

    “I certainly, as one senator, would insist on some kind of tax reduction for the very people whose taxes would be increased,” Gaetz said.

    It’s unclear exactly how much money could be collected if the bill passes. Some economists put the annual figure in the $100 million to $1 billion range.

    Full article: http://www.news4jax. … /4340mb/-/index.html


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  • Brevard School Board candidates differ on cost-cutting

    Posted on by Azrael 1 Comment

    Brevard School Board candidates Keri Lewis and incumbent Karen Henderson both say they want to maintain the quality of Space Coast schools.

    But they differ on how they should go about it.

    Lewis, a self-described fiscal conservative, has come down hard on a proposed half-cent sales tax that will be on the November ballot. If approved, the tax will raise about $32 million annually for Brevard Public Schools for facility repairs, replacements and purchases.

    …

    If elected, Lewis said she wants to dig into the school district’s spending. “There’s a lot of waste going on,” she said, pointing to performing arts centers and stadiums that were built in recent years, while DeLaura Middle’s gym was never air-conditioned.

    If cuts were needed, Lewis said she would look at administration and middle-management costs, and seek savings by contracting out positions.

    Henderson, meanwhile, said Brevard Public Schools has “cut just about everywhere we can.” If more savings are needed, she would suggest reorganizing departments.

    Explaining her vote on the proposed half-cent sales tax, Henderson said she felt “voters should tell us how we need to move forward.”

    The proposed tax increase would help pay for facility repairs, replacements and upgrades that are traditionally paid through the district’s capital funding stream. That has fallen from $117 million in state and local funding in 2007-08 to an expected $43 million this upcoming school year.

    Both candidates grew up on the Space Coast and touted their local roots.

    Full article: http://www.floridato … 807/NEWS13/308070020

     


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