WTF Jack ?
The “companies” that I think can afford revenue increases in these terrible economic times are the richest 1500 incorporated in De. (minimal stock-asset value of $660 million). An additional $5,000 per year increase in the franchise tax cap would produce nearly double the revenue in FY10 that the alcohol tax would with no job losses.
-JK last nights thread
That was rejected out of hand? I thought that upon my return from vacation I would have seen common sense and fairness prevail in your thinking, but I guess not.
I’m speaking as someone who has worked for Markell’s election and will no doubt work for it again in the future – but I don’t get this. There is no way to make the case that Disney would leave Delaware if forced to pay an additional $5,000. That BS does not pass the smirk test.
So what’s the deal? What’s the real reason Fortune 500 companies are not being asked to “share the burden” during this period of economic trial?
And what’s the REAL reason the $150K-plusers were spared any additional % increase in their PIT? Delaware essentially has a ‘flat-tax’ for anyone making over $60K. DuPont, Castle, and Carper oversaw that money grab and, by the way, it didn’t come with any ‘Sunset’ provision. One small move towards progressivity and everyone caves. Pathetic.
Som–just a thought, but maybe it was the phenomenal entrepenurial summit that was well received, and the realization that most entrepenuers and small business owners won’t launch for 60k a year, most dial in around 100k/yr payout to justify the risk, and amounts of time–sure don’t want to alienate the folk that are still working, and may have more plans for new small businesses. That would be my hesitation to hit on them. And considering the gross receipts thing……
El Somnambulo thinks it was more crass than that. He thinks it was a gimlet-eyed tradeoff between the $50-60K bracket and the $150K-plus group.
On the PIT increase alone, they could’ve passed it with Oberle, they didn’t need anyone else. So ‘bulo suspects that the Rethugs basically blackmailed the Guv into eliminating the $150K-plus bracket in exchange for providing the bare minimum votes for ANY of the bills. A pretty pathetic deal, IESHO.
Sucks, but at least it’ll keep Debbie Hudson in complimentary foie gras at the Vicmead Hunt Club for at least another year. And she’s one person who might do well to eat MORE foie gras.
We all know rich people will stop working if their taxes go up. Then all of us stupid, poor people will just have to sit around drooling because our brilliant republican overlords will stop creating jobs.
When did Markell ever promise to be progressive?
Markell was and still is our best and smartest candidate, but nonetheless he is a DLC’er with heavy corporate ties. He came of age in a era when Democrats survived by moving to the right.
I think he’s also worried about attracting businesses once the recession is over. If you’ll recall, that was his plan for growing our way out of our cost-of-government problem. I disagree with him, but that’s my guess about what he’s thinking.
anon,
I never expected him to be progressive, but I worked for him because I value common sense.
I’m not seeing any of that in not getting some very very low hanging large company fruit.
(cross-posting this comment from the other thread on “WTF John” – as it is relevant to both posts – so if you already read it there, save yourself!!!):
I don’t think anyone truly expected the big picture issue to be fixed within this session…not the enormous load of dung that was handed over from the previous executive and her joke of a budget proposal upon leaving.
In agreeing with the ‘R’ side of me, I am no proponent of tax. Going with the stronger ‘I’ side of me, I know why we have and need taxation. I am in no way naive where I think all this can go away without additional taxes, not in the relatively short time frame given to handle Ruthie’s gift. It’s also why you don’t see me joining the partisan calls to no-new-taxes. Hey, I hate taxation, I really do, but I understand what needs to be done.
The sunset provision is not a bad thing, either. It puts a life-expectancy on these revenue enhancers…enhancers for a government that I think we all agreed at one point or another that is bloated. Once attrition and other contraction is attained, then those enhancers become moot. It gives you time, also per Jack’s election and inauguration goals, to review all of our state’s programs throughly and carefully for waste to trim. It may be a little here and there, but those “littles” add up as the pile gets bigger. Unfortunately, I think some people want to get the big fish for their kill, but in turn ignore the little minnows swimming in the 20-gallon tank. Start putting those minnows in a single pile (ignore the stink they will create, outside of the water), and suddenly you have the same, if not more money to trim vs one big fish.
God, I hope this ramble made sense!!! 😛
Just like a politician these days–all ramble no cents.
It was fine Smitty:)