10/29/07 Special Session Begins Today!
Submitted by CEM on October 29, 2007 - 6:41pm.
A special legislative session begins in Annapolis today, and while that might not be the most exciting news to everyone, it may end up having an impact on your daily life in more ways than one. The goal of the session is to work toward balancing the state budget, which means finding more revenue than the state is currently taking in. So, by the time it's over, we could see things like an increase in different kinds of taxes, whether it be sales tax, personal income tax, or business taxes. Once again, for the millionth time, bringing slots to Maryland will be considered and debated, with the possibility of a statewide voter referendum.
This hour we'll be focusing on the business side of the equation. Are businesses taxed fairly? What that means depends who you ask, of course, so at noon we'll be seeking some varied opinions. Call in or write us here to let us know what you think.
An article in the Wall Street Journal last week about Wal Mart's agressive strategies to cut their state income tax bills got us talking about some of the ideas we'll be exploring today. Wall Street Journal doesn't have free online archives, but thanks to walmartwatch.com the article is reprinted here in its entirety, along with other related articles.
-Justin
I believe Gov. O'Malley's
I believe Gov. O'Malley's proposals to raise the corporate income tax by one percent and to close corporate loopholes are among the most popular parts of his ambitious tax and slots package.
The argument will be made that higher taxes might cause some businesses to locate in other states. And the problem with that is . . ? Maryland already has more development than it can handle, with more on the way. Maryland has so many jobs that people commute long distances from Pennsylvania to work here. Our economy is strong and business needs to pay its fair share of taxes. Just my opinion.
-- Bernie
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