Tax policy study: Flip it to fix it
A new study has found that inverting state tax structures—whereby the highest income earners would be taxed at the current percentage of income for the lowest income earners, and vice versa—would collectively raise $6.9 billion more in revenue, a 21.4 percent increase over Virginia’s current tax structure.
“Flipping” the tax structure would eliminate future budget deficit woes and would help offset the serious state and local budget cuts Virginians have experienced for the last four years.
The report, titled “Flip It to Fix It: An Immediate, Fair Solution to State Budget Shortfalls” was released today by Boston-based United for a Fair Economy and is supported by state organizations like Virginia Organizing.
“While Gov. Bob McDonnell and our legislators in Richmond pat themselves on the back for creating a surplus, all Virginians continue to suffer as a result of years of unwise budget cuts stemming from a refusal to make common-sense revisions to our antiquated, upside-down tax system,” said David Shreve, report co-author and Virginia Organizing supporter.
“Flip It to Fix It” attributes a large part of states’ current deficits to the regressive tax structures that the report shows are designed to fail. “Trying to raise adequate revenue through a regressive tax structure—where a greater percent of income is demanded of the poor than the well-off—is like trying to squeeze water from a stone,” said Karen Kraut, coordinator of state tax policy at United for a Fair Economy and co-author of the report.
The report highlights Virginia’s regressive tax structure where the poorest taxpayers pay a larger percentage of their income than the richest taxpayers. Virginia’s richest 1 percent of taxpayers pay 5.2 percent of their income in state and local taxes while the state’s poorest 20 percent pay nearly 8.8 percent. Most of Virginia’s middle class pays between 8 percent and 8.4 percent of their income.
“The inadequacy of regressive tax structures puts everything we value at risk: the well-being of families, the future competitiveness of the American workforce, and the nation’s ability to rebound from the recession and prosper,” said Kraut.
The report contends that an inverted tax structure not only solves budget crises, but increases equity and best spurs steady and strong economic activity.
“Instead of flipping our upside-down tax structure, a proven way to spark new economic activity and jobs, our elected leaders are gutting our infrastructure and education system. They are also relying disproportionately on federal spending and federal jobs to create the illusion of sound state policy,” said Shreve. “We cannot continue to kick the can down the road and place a relatively meaningless accounting balance ahead of the state’s economy and the needs of its citizens.”
The report calls on states to adopt its proposed progressive tax reforms, many of which are immediately achievable and will help solve state deficits.
The full report and state-by-state information is now available at www.faireconomy.org/flipitreport.
McDonnell signs tourism, economic development package
Gov. Bob McDonnell today signed the second part of his “Opportunity at Work” legislative package at an afternoon event at the Virginia Beach Convention Center.
The three measures signed today will help to increase tourism and attract new business to the state. The governor was joined at today’s signing ceremony by Secretary of Commerce and Trade Jim Cheng, members of the General Assembly, Virginia Beach Mayor Will Sessoms, and stakeholders in the retail, tourism and commercial spaceflight industries.
“Economic development and job creation remains my top priority,” McDonnell said. “Over the last year and a half Virginia’s unemployment rate has dropped over 1 percent, and we have added 64,900 net new jobs. But there is more work to be done to help every Virginian get a good-paying, quality job. The three bills I signed today will go far to encourage job creators to choose Virginia and invest in this state.”
“Opportunity at Work” legislation signed today
SB1193 (Norment)/ HB2285 (James) – Creates the Tourism Development Grant Program
- Creates the Tourism Development Grant Program to allow certain locally endorsed tourism projects to temporarily retain a portion of state and local tax revenue generated from the project combined with a matching contribution from the developer to provide gap financing for the project
SB1447 (Wampler) – Revenues to the Virginia Commercial Space Flight Authority
- Directs revenue generated by commercial spaceflight to the Virginia Commercial Space Flight Authority to develop Wallops Island as an even more attractive spaceport
HB1587 (Iaquinto) – Creates a Business License Incentive Program
- Permits any county, city or town to provide relief from license taxes to any business locating in such county, city or town for the first time, for the first two years after such location.
Sports Roundup: UVa. opens ACC Tournament with 13-1 win over Wake
Lowery tabbed CAA Player of the Year
James Madison junior catcher Jake Lowery (Midlothian, Va./Cosby) was selected as the Colonial Athletic Association Player of the Year to headline six Dukes earning All-CAA honors as announced Wednesday evening at the league’s annual awards banquet on the eve of the 2011 CAA Baseball Championship. Read more
Miami TE transfers to UR, will be eligible in 2011
Head football coach Latrell Scott has announced that University of Miami TE Andrew Tallman has signed a grant-in-aid and will enroll at the University of Richmond for the Fall 2011 semester. Tallman is immediately eligible with four years to play for the Spiders.
Tallman (pronounced “tall-man”) a native of Carthage, N.Y., who stands 6-foot-5 and weighs 260 pounds, redshirted as a true freshman this past season for the Hurricanes. Read more
#3 UVa. run-rules Wake in ACC Tournament opener
Behind a 15-hit attack from its offense and 6.1 strong innings from starting pitcher Tyler Wilson (Sr., Midlothian, Va.), the Virginia baseball team defeated Wake Forest, 13-1 in seven innings, Wednesday afternoon at Durham Bulls Athletic Park in the teams’ first game of the ACC Baseball Championship. The game was called after six-and-a-half innings because of the tournament’s 10-run rule.
Virginia (46-9) is the top seed in the tournament, while Wake Forest (25-29) holds the No. 8 seed. Read more
D.C. United Women begin new tradition tonight with first match in franchise history
D.C. United Women open their inaugural United Soccer Leagues W-League season on Wednesday, when they travel to New Jersey to take on the New Jersey Wildcats at 7:30 p.m. at Lions’ Stadium on the campus of The College of New Jersey.
United head coach Mike Jorden and his squad will attempt to earn their first-ever victory on the road against a Wildcats team that has already earned three points following a 3-1 win over the New York Magic on Sunday. Read more
The AFP on WREL: Pennant fever
AFP editor Chris Graham talks sports on WREL-1450AM’s “Online with Jim Bresnahan.”
The segment begins with a look at this week’s ACC and Big South baseball tournaments. Can #3 Virginia regain its footing after being swept over the weekend at UNC? Can anybody in the Big South knock off perennial league power Coastal Carolina?
We wrap with a look at this weekend’s NCAA men’s lacrosse Final Four and a sneak peek at the upcoming 2011 Valley League season.
The AFP on WREL: Pennant fever
AFP editor Chris Graham talks sports on WREL-1450AM’s “Online with Jim Bresnahan.”
The segment begins with a look at this week’s ACC and Big South baseball tournaments. Can #3 Virginia regain its footing after being swept over the weekend at UNC? Can anybody in the Big South knock off perennial league power Coastal Carolina?
We wrap with a look at this weekend’s NCAA men’s lacrosse Final Four and a sneak peek at the upcoming 2011 Valley League season. Read more
TSA Spirit Night at Chick-fil-A
Come to Chick-fil-A of Waynesboro for dinner with your family and raise money for students in the Technology Student Association to be able to attend their national conference in Dallas, Texas. Be sure to come between 5 p.m. and 8 p.m. and tell the cashier at Chick-fil-A that you are with Wilson Memorial High School TSA, and a percentage of your order will be donated to your school! You are welcome to support your group through our drive-thru as well.
The Technology Student Association (TSA) is the only student organization devoted exclusively to the needs of students interested in technology. Open to students enrolled in or who have completed technology education courses, TSA’s membership includes over 150,000 middle and high school students in 2,000 schools spanning 48 states. TSA is supported by educators, parents and business leaders who believe in the need for a technologically literate society. Members learn through exciting competitive events, leadership opportunities and much more. The diversity of activities makes TSA a positive experience for every student. From engineers to business managers, our alumni credit TSA with a positive influence on their lives.
In the past the Wilson Chapter, advised by Maura Stout and Matthew Haskins, has traveled to Dallas, Texas; Nashville, Tennessee; Orlando, Florida; and Baltimore, Maryland, for the organization’s national conference. It’s a great opportunity to for a student to travel, meet new people, and learn more about technology.
The 2011 National TSA Conference will be held from June 21st to June 25th at the spectacular Gaylord Texan Resort in Grapevine, Texas in the greater Dallas area. During this annual conference over sixty middle school and high school technology based student competitions will be held. Also taking place will be leadership training, a career and education fair, and a program sponsored by TSA’s national service partner, the American Cancer Society. Approximately 4500 people from all across the country are expected to attend. This conference is an approved educational event by the National Association of Secondary School Principals.
Even if you aren’t involved or don’t know someone who is, just mention the name to help some kids make it to Dallas.
For more information on TSA, visit www.tsaweb.org or www.augusta.k12.va.us/66873391311749/site/default.asp.
Story by Suzi Foltz
Suzi Foltz: I must have a friendly face
Okay, so you’re driving in your car by yourself. It’s been a long day. A song you like has just come on the radio and there are no other cars around. What are you going to do? You’re going to blast the volume up about ten notches and sing along. At least that’s what you do if you’re a teenager, but I assume it works for all age categories.
Needless to say, yesterday when I was driving to pick up a friend and I heard a song that I was rather fond of; I turned my volume from a rather quiet 15 to about 30. I was stopped at a red light on Tinkling Springs Road, alongside Eaver’s Tire in Fishersville.
At this point there was some definite head shaking going on and knowing my stupidity, there was probably some hand motions as well. During the course of my routine I happened to look over and see and older man in a pickup truck in the lane next to me staring right at me.
More than this, he had his window down and could probably hear my music; though I doubt he’d recognize the song. It took me several seconds to realize that he was actually talking to me. I turned down my music to silence, rolled down my window, and asked him to repeat himself.
He asked if the road we were on would get him to the interstate. Yes, it would. He looked at me another second; probably debating my intelligence and elaborated his question saying Interstate 64, the one that would take him over the mountain. Yes, it still would. My intelligence probably should have been debated though; I hand been seat-dancing just seconds before.
Encounters like this don’t happen to me very often. Most people these days have GPS’s or don’t trust random people enough to ask for directions at a stoplight, especially teenage girl drivers (we have a bad reputation). However, this same situation was repeated again today.
On my way to the office, I was blasting my radio to shake off any remaining sleepiness. Different genre, different song, same scenario. I was stopped at the red light by El Puerto when I happen to notice another older man sitting in the car next to me staring at me. Already anticipating what would happen I turned down my music and began to roll down my window.
The man asked me how to get to Hardee’s. Although, he had a smooth drawn out southern accent that made it sound more like Haaaardee’s. I told him to stay on 250 a bit longer; it was coming up on the right and then drove on when my light changed.
I don’t get asked for directions that often. People know I’m not good at giving them. I have lived in the area for most of my life, about 16 years of my almost 18 years, but my instructions are sometimes messy. Most people like hearing street names rather than that road with the big tree on the corner, or that road by the restaurant that was an Italian restaurant and then wasn’t. Or they want an exact exit number, rather than “well, I think it’s 94. There’s a Home Depot…”
I reckon I just have a friendly face that looks like it knows where it’s going.
Suzi Foltz is an AugustaFreePress.com intern and a senior at Wilson Memorial High School.
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Chris Saxman: Cold Fusion – Uncle Charlie’s Foreign Policy Edition
Posted on May 24, 2011 · Leave a Comment
They both graduated this weekend from Mary Baldwin College and Stuart Hall respectively. Mom knocked out a 3.92 GPA in political science on her way to a magna cum laude distinction while our baby, who has as my ringtone Butterfly Kisses, was named “Most Likely to be the First Female POTUS”.
Suffice it to say, the weekend was exhausting but one of immense pride and joy.
We can only hope they arrive back home safely with great memories.
Knowing that they both love to shop, we gave the future POTUS some American currency in order that she might be able to enjoy some Parisian and Florentine shops.
To a teenager, anything north of one Benjamin Franklin is a lot of money. And it should be. Unfortunately, her first experience in the area of foreign policy is going to be when she exchanges those Benjamins for some Euros. Her direct quote will be, trust me on this one, “What the HELL?” Welcome to life in the 21st Century, baby girl.
The US Dollar is currently pulling .71 Euros. Not exactly the optimal time to cue up Queen’s “We Are the Champions….of the world!”…..you know how that starts
“I’ve paid my dues/Time after time/ I’ve done my sentence/but committed no crimes”
Seque into foreign policy of the United States.
Do we have one?
Not trying to pin down the Obama Administration here since Cold Fusion headquarters has long since stopped trying to figure out where the Administration is going on domestic policies. One day it’s “we are pro business” the next Boeing can’t build planes in South Carolina. One day they declare passage of the most significant K-12 education reform in a generation, the next they are trying to end vouchers for poor children in Washington DC. One day they pass ObamaCare to mandate everyone purchase health insurance, the next day they grant waivers to just about anyone who does not want the mandate. Should the Administration and the Senate Democrats decide to pass a budget for the federal government, every psychologist worth his or her salt will have to build a Rohrshach drive thru lane to contain the collective schizophrenia.
“Welcome to Drugs in a Box, how can I help you?”
I’ll take the #2 – The Three Pyschobarb Drug Wrap and a Diet Coke. And two Calm O’Meals with BenadrillO’Shakes. (spelled incorrectly to avoid spam block)
Quo Vadis? Where are you (plural – y’all) going?
President Obama cashing in his “Yes, I did in fact kill Bin Laden” chips, early in the game, declared to the world in El Paso that Republicans would like to build an alligator filled moat on our southern border to keep Mexicans out of the US.
Statesman.
Then he tells the world that the private policy of the US is to have Israel go back to the borders prior to the 1967 war that was initiated not by Israel. Most Americans say “sure, go back to 1967 so we can finally have peace in the Middle East”. Then they look on a map and see that means the entire West Bank and Golan Heights would be given back. You might want to give us and our #1 ally in the Middle East more than 24 hours notice on that one so that we can all see where we are going. Or at least what the heck you are thinking.
Leader of the free world.
Cold Fusion HQ was shutting down early on Friday in advance of the graduation ceremonies that were to fill the weekend, when it caught an interview with a Saudi prince on Fox Business News. The member of the Saudi royal family declared that UN Resolution 242 should be enforced. Okay. Googled that. 242 says that the borders before the Arab nations that attacked Israel in 1967 should be the borders of Israel.
Makes sense, really. Multiple nations attack a country and lose. Badly. Then they go to the UN and want the land they lost from their aggression to be returned.
Sort of like corporate America in many respects. Lose in the free market and take the winners to federal court in an expensive game of legal extortion or simply go to Congress for economic development assistance or laws that clearly advantage the losing, but larger, company in the no longer free markets of the future.
The old game – heads I win, tails you lose. Got it?
Well, Israel doesn’t play that game.
But the Saudi prince tipped his hand. He declared how the House of Saud had instituted a minimum wage and was in the process of building half a million homes for its citizens.
And BINGO was his name – O’. See, they don’t want their citizens joining the Arab Spring. They want to maintain control. Headquarters figured that those financial investments were not cheap so why not make American consumers and taxpayers foot the bill… “I’ve paid my dues/time after time….” began playing in the background.
Of course. We will raise oil prices or you will give us a foreign policy victory over Israel. They want some land back so that the natives won’t be so restless. The Sunnis hate the Shiites and vice versa. None of the Arab countries really like each other but they all hate Israel. So, time to beat up on them thus diverting the attention of the rabble being roused via Facebook and Twitter while they redistribute our wealth in the form of foreign policy extortion. That’s one serious racket. Do the RICO statutes kick in here? Nope. We can’t even enforce parking tickets to foreign diplomats.
Answer – go to AIPAC and offer our support to Israel and then go to Ireland to reconnect with your Irish ancestry. The second greatest missionary of the Church, St. Patrick, would have been proud of this conversion. But, Quo Vadis?
As a child living in suburban Detroit, we had a neighbor, Charlie Hrdlicka a.k.a “Uncle Charlie” who was one of the funniest guys ever. He would invariably enter our kitchen at dinner time (mom holding down the townhouse while dad was commuting home) and declare, “Hey Kids! Guess what time it is!? It’s Uncle Charlie Time!!” The three of us would light up… “YAY!!! It’s UNCLE Charlie Time!!” “okay kids, take your peas and mashed potatoes and make like a HELICOPTER!!!” And food went flying to the refrain “YAY!! UNCLE CHARLIE” Then he would look at mom, laugh and leave. Three kids trashing the kitchen and an overwhelmed mom aghast at the mayhem which, of course, had to be undone before “your father gets home!” Right. See, mom never could bring herself to administer a healthy dose of wooden spoon to the back side to motivate the troops.
Apparently, neither can our President. He’s Uncle Charlie. Stirring up the kids and bolting with mom and dad left to clean up the mess. I’m sure he apologized while laughing over a couple of gin and tonics at the golf course – to dad.
Well, the 8 year old wants to play RISK and it’s time for that board game teacher of real foreign policy to be undertaken. Clearly, the kids at the Harvard Law Review never knocked back a couple of cold ones over that one. The problem with RISK is that there are no extra armies awarded for having an independent supply of energy.
Our kids will learn the hard way when leaders don’t lead and only seek re-election by making peace in a region that has never ever ever ever had it. And never will until they have suburbs where dads commute and moms raise 3 kids in relative peace and prosperity.
Maybe then the US dollar will be worth something to text home about.
Filed under Blogs · Tagged with aipac, barack obama, chris saxman, cold fusion, israel palestine, republican president