Republican Plan “Pledge to America”

September 24, 2010 Leave a comment

This simple explanation of the usual political blah-blah-blah.

Howard Gleckman of the nonpartisan Tax Policy Center has done the math. As he points out, the only way to balance the budget by 2020, while simultaneously (a) making the Bush tax cuts permanent and (b) protecting all the programs Republicans say they won’t cut, is to completely abolish the rest of the federal government: “No more national parks, no more Small Business Administration loans, no more export subsidies, no more N.I.H. No more Medicaid (one-third of its budget pays for long-term care for our parents and others with disabilities). No more child health or child nutrition programs. No more highway construction. No more homeland security. Oh, and no more Congress.”

via Op-Ed Columnist – Downhill With the G.O.P. – NYTimes.com.

Filed under Economy, National

Raising Property Taxes Lowers House Values

September 24, 2010 Leave a comment

The more the government taxes a house or other property, the less is it worth because a new buyer pays less (unless you are in a housing bubble and unless LeBron James is buying the house).

As local governments persist in increasing property taxes on residences as values are falling (they are still falling, by the way), the house value will fall even more.  Also, the more you raise property taxes the more everyone is hurt except the wealthy.

(Now let’s see, who are financing candidates for public office?)

Draw your own conclusions.

Filed under Property Values, Taxes and Fees

No Income Taxes in Florida is an Illusion for Many New Residents (including Coral Gables)

September 24, 2010 Leave a comment

I wonder how many new residents have done their homework.

For very high income levels and owners of large residences, the amount of taxes paid residing a state with income taxes (and property taxes, too)  are way less than the increase in their property taxes in Florida.  But for many new property owners in (say) middle and upper middle income levels, they well pay more in property taxes than they paid in both state income and property taxes in their former residence states.

According to the Empire Center research organization, over 1.5 million more people moved out of New York State in the past decade than moved in – a larger net loss than for any other state. Like Jeter, people moving out tend to earn higher incomes than people moving in. Again, like Jeter, most of the people who leave had lived in the New York City area – not in the economically depressed upstate regions. And finally, like Jeter, almost a third of outmigrants settle in Florida.

via Why Derek Jeter and LeBron James are running for Florida: High taxes turn the rich into refugees | heat.basketball-news-update.com.

Filed under Florida, Taxes and Fees

Miami-Dade Challenge to the Taxpayers

September 24, 2010 Leave a comment

Taxpayers have been challenged by the City Commission and (the strong?) Mayor of Miami-Dade County with taxes being raised in the face of community angst.  The indifference of the county authorities to the financial situation of the large community, in favor of protecting employee, union and district interests (much like that of other local communities) is hard to fathom.  It certainly evidences the failed structure of community representation and governance, when a few districts can punish a whole county of taxpayers.

It is very likely that a recall will be pursued by the community, and might succeed.  We’ll see.

Filed under Miami-Dade County

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