Morton Fox (mortonfox) wrote,
Morton Fox
mortonfox

Taxing taxation

lik07-5

The sports glasses do indeed fit under the fursuit head. Yeah yeah, I know. Waited until just 2 days before a mascot gig to try those. Those lenses are supposed to be anti-fog too but I didn't try them on long enough yet to see if the anti-fog treatment is effective. I'll see (or not see, as the case may be) soon enough.

Saw this news item today: Proposed Pennsylvania budget includes 16.7 percent sales tax hike

See? This is why we needed to oppose it while it was still in New Jersey. First, NJ hikes the sales tax from 6% to 7%. Then suddenly, legislators in other states think it's okay to hike sales taxes there too. After all, Jersey already did it! Then, once all the states in this region are at 7%, the Trenton will raise it to 8%. It won't end.

In general, I don't like taxes, but a sales tax is regressive. It hits low-income folks the hardest. Think about it. People who are already ekeing out a marginal existence and living paycheck to paycheck will find it harder to make ends meet with the sales tax, while high-income folks who still have room to spare in their budgets will find it an annoyance at worst. Seems to me that raising the sales tax amounts to balancing the state budget on the backs of the poor.

And get this: In return for the sales tax hike, they're offering property tax cuts. Hmm.... wasn't that what they told us in New Jersey too? So in addition to being regressive, it'll also be a transfer of funds to property owners? Ha! That's rich.

Speaking of taxes, the tax refund meter is now four digits negative. Took a big hit on interest income from ING Direct because that is taxed at a higher rate than dividend income. On the plus side, I think I'm about 90% done. Only a few 1099 items remain unchecked and then I have to wait for some K-1 forms. After that, I'll see how much I owe in state taxes. And yeah, have to pay the first quarter of this year's estimated taxes by the April deadline too. Fun.


From fridayfiver:

1. How's your weather?

Click for Montvale, New Jersey Forecast


2. What can you hear right now?
Computer fan.

3. Do you like to spy on people?
No. Who has time for that anyway?

4. When is the last time you had to prove yourself?
I really don't remember. Then again, I seem to have to prove myself to myself constantly.

5. What would you like to take back?
I do recall using the horn once out on Long Island last weekend. I would like to take that back. On second thought, maybe not. That nut needed to be told.
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