While these increases are extreme due to the pandemic, they are part of a long-term trend of unsustainably high property taxes, growing every year, to fund ever higher school spending that serves fewer and fewer students.
Vermont’s general obligation debt and the Vermont State College bonds outstanding each had a “stable” outlook after being downgraded from AAA in 2018, but both were changed to a negative outlook after a press release last week.
President-elect Joe Biden’s proposed firearm tax could cost gun owners upwards of $30 billion to keep the weapons they already possess, according to The Washington Free Beacon.
A potential decrease in the state’s rooms and meals tax could make New Hampshire more competitive in the New England tourism industry, but a percentage and timeline have not been determined.
Investment income is taxed twice: once when you earn it as wages, and a second time on any investment earnings. If your money is invested in a corporation, the corporate income tax takes another slice of your investment.
We need to quit robbing Peter to pay Paul, because I think we can all see the writing on the wall. We’re looking at higher taxes to refill these gaps.
“Taxing by price may not be stable, taxing by weight could encourage use of high potency products, and taxing by potency could complicate tax collection and add significant costs to both tax collectors and industry,” Boesen said.
Vermont’s grotesque tax burden was a big reason why our state never really recovered from the Great Recession. This doubling down on a failed policy prescription will ensure an even greater failure to recover from this recession.
Let’s tax PACs and lobbyists. Taxing would be good for revenue, good for our state, and good for our citizens and republic. Vermont could tax its way to freedom and lead the nation by doing so. What should we call this tax?
The lead bill to glide through the Senate was S.337, which would allow Energy Efficiency Vermont and Burlington Electric the authority to spend some of their ratepayer tax funds on transportation and heating efficiency projects.
As Vermonters and the businesses that employ us struggle to get back to some sort of economic normalcy, the Vermont House Ways and Means Committee is contemplating raising $167 million in new taxes to offset lost revenue for the Education Fund.
April is the first full month of revenue collections since a state of emergency was declared by Gov. Scott, and the subsequent mitigation “Stay Home Stay Safe” order was issued on March 24. April revenues collected were predictably and dramatically under the consensus forecast for the month.