9/26 State Revenue and Taxes
Submitted by CEM on September 25, 2007 - 11:39pm.
If you've watched the local news or read the papers in the past week you've, no doubt, seen Governor O'Malley at kitchen tables to discuss his plan to restructure state income tax. Last week the governor climbed to a rooftop to discuss his vow to close corporate loopholes which have allowed large companies to avoid paying millions in local and state taxes.
While Maryland is one of the wealthiest states, it's facing a looming fiscal crisis. Will making businesses pay more in taxes help the state's revenue? Marc and his guests will debate the issue of whether businesses pay their fair share of taxes.
                                                                                                                                    -MarcusÂ
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Gov. Martin O'Malley and his
Gov. Martin O'Malley and his staff obviously have put a lot of thought and work into crafting his tax reform plan. It's self-evident that Maryland's present tax structure is regressive--that is, it favors the rich and hurts the poor.
The governor's proposal to raise the corporate tax rate one percent and close corporate loopholes appears sound. His plan to add brackets to make the income tax on individuals more progressive and fair is long overdue. Perhaps he could have gone farther in increasing taxes on the very wealthy.
Montgomery County Exec Ike Leggett is balking at the progressive income tax. What is going on there?
And of course, slot machines. Can anybody name six sites in Maryland where a slots casino would be welcomed? -Bernie
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