Posts Tagged ‘taxes’

Massachusetts Side Effects Patriots Edition

Posted: March 15, 2024 by datechguy in nfl, Sports
Tags: , ,

Well there’s been another round of layoffs and outright dismissals at my company. To my knowledge only one of my bosses and bosses bosses over the last year will be with the company ten days from now but since that doesn’t seem to impress anybody in terms of just how bad things are let me put it another way.

Driving to mass today I was listening to sports radio and they were talking about the various free agent signings in the NFL. When the Patriots had Tom Brady getting free agents was never a problem because the chance of going to a Superbowl was 50-50 every year and at worst it meant that later in life you could say “I played with Tom Brady!” Even with Bill Belichick here there was a slight draw in the idea that you would be playing with one of the greatest tacticians and the one of the top 3 winningest coaches of all time.

But both Brady and Belichick are now gone and now when I turn on the radio I hear about the competitive disadvantage that the Patriots have in signing free agents. There are quite a few locations that don’t have a state income tax which means that you have to offer a minimum of 5-6% more as a baseline just to be even with the other guy, but with the Millionaire’s surtax added on suddenly the price of a good free agent goes up so much that another team can outbid you without even trying.

It’s not just the business people who flee, it’s the people who don’t bother to come in the first place.

But hey as always we get the government we deserve. Good and Hard.

The Optional Federal 50% 75% & 90% Tax Rates, An Idea Whose Time has Come

Posted: April 21, 2023 by datechguy in opinion/news
Tags: , ,

Today on twitter I saw this rather amusing video from Stephen Moore who covered a press conference of “patriotic millionaires” who joined Democrats in pushing for a 90% tax on those they called the “super rich”.

Their hesitation to do so without the official approval of the state suggests that it’s time for the federal government to import another idea from Massachusetts, one that is much better than turning “RomneyCare” into Obamacare?

Around 20 years ago Democrats in Massachusetts were pushing for a higher tax rate and we saw a bunch of very rich leftists doing what was being done in the video above, namely asking for their taxes to be raised, Barbara Anderson and Citizens for Limited Taxation made a sarcastic suggestion that they state offer an optional higher tax rate to those who wanted to pay more:

“We were just being sarcastic,” she says. “The next thing we knew, the legislature seemed to find our sarcasm relevant and so they passed the idea we had.”

In 2002, tax politics were serious in Massachusetts. Voters had passed a sharp decrease in the income tax rate, and lawmakers decided to slow that down. In that same year, they also passed the optional tax rate — a way to contribute just a little more to the state’s general fund.

Since that time Residents of the state have had the option to pay a 5.85% tax rate if they so choose and every year about 2000 people in the state make that choice, but that doesn’t include at least one pro-tax person you’ve heard of:

Elizabeth Warren wants to raise taxes if she’s elected president, but usually hasn’t chosen to pay more herself.

Massachusetts state income tax forms allow taxpayers to pay a higher rate to help out the state government. But according to tax returns posted on Warren’s presidential campaign web site, she didn’t do so at least nine years in a row.

I think it’s time that this law is passed federally but on a grander scale.

If I’m Kevin McCarthy as part of his debt ceiling deal I’d offer the Biden Administration the chance to include an optional tax rates in the tax code so that those millionaires who want a max rate of 90% can just check a box on their taxes and Viola their federal rate will be 90%.

In fact McCarthy could make it even fairer, he could add 3 optional rates, a 90% rate to satisfy those “ultra rich” and 75% rate for those who think 90% is too high and an economy sized 50% rate for the folks who are rich, but aren’t wealthy enough to be classified as “ultra rich”.

Hey if 2000 people in a small state like Massachusetts voluntarily choose a higher tax rate surely they’ll be able to find 100,000 people in a country of over 330 million willing to pay those higher tax rates. It could be the ultimate virtue signal for the super rich. Heck the Bidens could invite those folks to the White House and honor them for making that sacrifice to help their country and democrats can cite them as heroes of the revolution republic.

C’mon Kevin, let’s give these rich leftists a chance to put their money where their mouth is, literally.

Raise Taxes, Kill Businesses – Must be California

Posted: October 31, 2020 by datechguy in News/opinion, Uncategorized
Tags: , ,

42 years later, California’s Proposition 13 continues to inspire attempt after attempt to kill it. This Election Day – er, Election Season – is no different. Passed in 1978 – back when the aerospace and oil industries were still vibrant enough to pepper the state with conservatives – the law allows property tax rates to be increased only upon a sale of the property and limits any increase to a 2% rate of inflation. Nothing a politician hates more than limits on taxation. Since ’78, progressives have thrown more propositions, lawsuits, and legislation at the hated law, and despite California’s voters electing bluer and bluer representatives, they still somehow continue to protect lower property taxes. There’s something about voting on actual legislation, with its provisions in black-and-white, rather than voting for personalities, that sobers the voters’ minds. Propositions cannot hide so easily behind a flashy smile or perfectly-creased pants.

It’s easy to imagine these tax-loving cretins in their Sacramento offices, watching with envy as property values throughout the state sprout ever higher. The Federal Housing Price Index shows that the House Price Index for California has risen almost 700% since 1979. This drives the politicians crazy, that in the wake of these gains, their hands remain cuffed, unable to pick the pockets of its citizens. Progressive dreams of income redistribution, even in the navy-blue Golden State, remain at least somewhat limited.

The latest attempt to undo Prop 13 is Prop 15. Prop 15 promises to raise property taxes by setting the tax rate at the market rate. But, knowing California voters’ reluctance to mess with Prop 13, the authors of 15 have limited its effects to only commercial properties. They presumably suspect the progressive voters here may not mind raising taxes on capitalist endeavors, so long as their own homes are left out of it. One can only marvel that California may pass yet another anti-business law, even as business flee the already-stratospheric taxes and cost-of-living.

A survey of California likely voters released ten days ago reveals 49% favor Prop 15, while 45% oppose it.

Don’t be surprised to see more moving trucks headed for parts east come 2021. And as the businesses flee, the Sacramento tax coffers will fall, and the politicians will look for where else they can raise tax rates. Why do I suspect those eyes will fall upon residential properties?

One effect of California’s feeble educational system: the local politicians educated in it never learn. Tuesday will tell if the voters have.

DaTechGuy on DaRadio Fault Lines Radio that is Tomorrow 8:30 AM EST.

Posted: September 28, 2020 by datechguy in News/opinion, politics
Tags: , , , ,

Tomorrow on the feast of the Archangels Michael, Raphael and Gabriel I’ll be on Fault Lines Radio talking the NYT tax story.

Oh full disclose, I’ll be on Fault Lines Radio making fun of the NYT Trump Tax story & those pushing it and making this point:

Oh and don’t miss this week’s live stream podcast tentatively at 3 PM unless the horrible Trump economy makes me work another Friday.

Hope to catch you there.

Older Entries