It’s hard for a state government to argue for taxpayer money to subsidize the high cost of something they’re simultaneously trying to price consumers out of the market.
Imagine taxing all vegetables but not beef, then giving the receipts to rich people to buy hamburgers and steaks, who could then eat more meat and fewer vegetables, becoming richer and fatter.
Peter Welch, Vermont’s Democrat nominee for U.S. Senate, said he supported this act because it targets the most wealthy tax evaders and helps struggling families and workers. But the data shows that in the past year a vast number of audits were conducted on taxpayers who earned $75,000 or less.
Vermont’s so-called progressives have implemented an array of tax, electric rate, and regulatory burdens on low-income Vermonters and small businesses that benefit wealthy nonresidents and mega-corporations.
According to analysis by the Congressional Joint Committee on Taxation, nearly all Americans would see increased taxes by 2023. The average tax rates would increase in nearly all income categories, according to its analysis, including lower income individuals such as those earning less than $10,000.
President Joe Biden and the Democrats are proposing to double the size of the IRS by adding over 86,000 agents, most of whom will be assigned to enforcement. If this bill passes the Senate every American could see their chance of an audit go up.
Most Vermonters can agree that without a Herculean local effort or intervention by the state of Vermont, our rich heritage of having many local ski areas is at risk of being lost, possibly indefinitely.
Republican lawmakers who pushed the bill through the Legislature argued that the state is flush with surplus revenue and can afford to give pandemic-battered businesses a tax break. Democrats opposed the changes.
New Hampshire is known as the “Live Free or Die” state that prides itself on a low financial burden for residents with no personal income or sales taxes. But when it comes to local property – or real estate – taxes, not so much.
“With this new law, Vermont consumers will be able to visit beer and wine retailers to get their favorite ready-to-drink cocktails, and distillers will no longer be burdened with such an excessive tax rate.”
“Tax relief has always been my priority, but instead I’ve had to resort to preventing efforts to raise taxes over the last six years, so I’m encouraged the Legislature agreed with me this session that Vermonters need a break,” Scott said.
The state Senate voted 14-10 to approve a plan to cut the state’s business profits tax from 7.6% to 7.5% for most businesses beginning in 2023. The vote went along party lines with the measure opposed by the Senate’s Democratic minority.