Just a post-script to my earlier post: Today I heard DiMasi on the radio, talking about what a bad idea it would be for us to close corporate tax loopholes due to the impending economic troubles: “What burden do we put on business during a recession?”
Can we just state the obvious?
- If corporations aren't paying the taxes they ought to pay, under a fair, consistent and competitive tax structure …
- and the bills are still coming due, for education, infrastructure, and all the other things upon which business and individuals depend heavily;
- Then individuals are going to get stuck with the taxes that corporations aren't paying.
We know this is true; we're living it all the time. The legislature has oh-so-cleverly avoided taking the hit for a tax increase, essentially by pushing the increase off onto localities. Let a thousand Prop 2 1/2 overrides bloom!
And so, we get to pay our Verizon bill twice: Once directly to them, and once in the form of paying the taxes that they're not paying. What burden do we put on individuals during a recession?
ANOTHER UPDATE: Patriot-Ledger says cut the property taxes first. Yes, that's what people voted for.