Government Spending Archives - Page 18 of 27

DC Increases Cigarette Tax & Revenue Falls by $4.9 Million First 7 Months

Increasing taxes to get more revenue frequently does not work. The District of Columbia raised it tax on cigarettes from $2 a carton to $2.50 a carton. As a result, DC collected $4.9 million less during the period October 2009 through April 2010 than it did the prior period covering the same months. Extrapolating this number to a year equates to an annual decrease of $8.4 million. The brain-trust idiots who passed the increase predicted that revenue would go up $9.7 million a year.

See “Wealthy Fleeing Tax Happy New Jersey – $70 Billion Lost 2004 – 2008” for another example of increasing taxes with the result of less revenue collected.

The Millionaire Cop Next Door

Forbes: “It is said that government workers now make, on average, 30% more than private sector workers. Put that fantasy aside. It far underestimates the real figures. By my calculations, government workers make more than twice as much. Government workers are America’s fastest-growing millionaires.”

Maricopa County Tentatively Adopts $2.3 Billion Budget

Arizona Republic: “The Maricopa County Board of Supervisors has tentatively adopted a $2.3 billion budget for fiscal 2011, which starts July 1.”

New York and Millionaire’s Tax

The Tax Foundation: “New York is considering increasing their millionaire’s tax . . . . What principal of governance allows one to tax .4% of the population more to pay for the same public services consumed by the other 99.6%? . . . Tuning up the tax rate to raise a billion dollars from a select minority goes beyond most concepts of fairness, even if one believes the wealthy owe a bit more to society.”

See “Millionaires & High Income Earners” and “The Facts on New York’s Tax Climate.”

More Jurisdictions Want to Tax Sugar Consumption

1. Reuters: “California lawmaker introduces soda tax bill”

2. Washington Post: “D.C. council finance chair Evans opposes soda tax proposal”

3. Tax Policy Blog: “Soda Taxes and Trash Fees In Philadelphia”