Have you ever heard this one from people? “But there is just no money. How are we going to spend tax dollars on (insert name of needed program here) when there is just no money?” Now sadly I hear this from just as many Democrats as Republicans, but that is another story. Of course there is plenty of money; we have just decided as a nation not to collect it in tax revenue anymore, believing somehow that now, unlike in the past, when hard work and putting people in actual jobs that make things like roads and bridges and schools or intellectual property for innovation and intellectual advancement, was necessary; now all you need is libertarian fairy dust.
Of course, for those who rant that they are Taxed Enough Already…for some of us… you are right! And the reason why is because, as was pointed out here on the pages of RIFUTURE, folks in the CEO class used tax scams like the Flat Tax in Rhode Island to shift the burden of paying for the government that every citizen is part of (see comment below for more information and link). Oh, but’s right….they are the “job creators.”
written by peterasen, May 21, 2009 Ken’s Tax Liability
if it’s 23 percent higher than in Massachusetts, than his tax liability above Mass is 18.7 percent of his total Rhode Island tax (0.23 divided by 1.23). If this difference is a five digit number, then it must be no less than $10,000. That means his total tax bill must be no lower than $53,400. And his total income for 2008 must be no lower than $762,857 ($53,400 divided by .07, the flat rate for 07). Those of us who make less than 10 percent of what Mr. Block does can be forgiven for our frustration for having to pay higher sales and property taxes, not to mention fees, etc., to make up for his flat tax bonus.