Fri Apr 6, 2012, 09:44 AM
JPZenger (6,669 posts)
Here's how devastating cuts can be avoided by closing loopholes and delaying tax cuts
Last edited Fri Apr 6, 2012, 12:28 PM - Edit history (1)
Definitely worth a click.
Did you know that PA. is the ONLY state that does not tax cigars and chewing tobacco?
Did you know that the Governor delayed the imposition of sales tax on internet businesses, which results in unfair competition with PA. businesses?
Did you know that the Governor, on his own, changed the PA. tax depreciation rules, costing PA. over $200 million?
Did you know that PA. has one of the very lowest tax/fee rate on natural gas extraction of any state that has a natural gas industry?
Did you know that the Governor is proposing a corporate tax cut that is almost EQUAL to the amount being cut from public colleges and need-based college grants?
"Pennsylvania is in dire need of a corporate tax overhaul. A recent study by the Institute on Taxation and Economic Policy and Citizens for Tax Justice, Corporate Tax Dodging in the Fifty States, looked at the state corporate income taxes paid (or not paid) by 265 major corporations between 2008 and 2010. The 14 Pennsylvania based corporations in the study, including H.J. Heinz, Comcast and Hershey, paid very little or even negative state income taxes during the time period. And, data from the state’s Department of Revenue shows that more than 70 percent of corporations operating in Pennsylvania paid no corporate income taxes in 2007, likely in large part to their ability to hide profits out of state. "
(you may need to scroll down the page to read it).
April 2, 2012
"Pennsylvania Budget and Policy Center Director Sharon Ward issued the following statement on the House Finance Committee vote to advance House Bill 2150, legislation that would close one of Pennsylvania’s major tax loopholes and enact significant new business tax cuts.
“The House Finance Committee today took a small step to address the problem of corporate tax loopholes, but that step comes at a price that Pennsylvania cannot afford.
“HB 2150 will drain three-quarters of a billion from the state treasury annually by the end of the decade and will guarantee permanent underfunding of state colleges, public schools and health care services.
“This action undermines Pennsylvania’s long-term economic growth by putting funding for these investments at risk. To enact major tax cuts at the same time the state is considering 20% cuts to colleges and human services, and when more than a dozen school districts are faced with severe fiscal distress, is nothing short of irresponsible."
Examples of how state budget cuts are affecting every school district in the state. Even some of the richest suburban school districts are eliminating scores of teachers, and 40% of school districts so far have been approved for real estate tax increases.
Here's some recent newspaper headlines. Direct links to the articles are at:
State education officials have given nearly 200 school districts permission to raise property taxes without seeking approval from voters
Cumberland County parent says Corbett's proposed budget cuts school districts to the core
York Daily Record
City board to consider closing middle schools
Souderton School District to eliminate 13 teachers
Phila School District budget plan still has $186 million shortfall
Majority of Bethlehem school board would support 4.84 percent tax hike
Central Bucks faces $2 million deficit
Commission votes to close eight schools, keeps two open
Harrisburg School District looking to fill $15.7 million budget gap
Balanced budget out of reach in Mt. Lebanon School District
Tribune-Democrat feels Somerset County school district's pain as it makes cuts to address $1.6 million budget deficit
Allentown Morning Call
School busing could be on chopping block in East Penn School District's future
Lancaster Intelligencer Journal
Manheim Central school officials may eliminate some busing for elementary school students
Plans for struggling Duquesne City School District still a source of frustration
Saucon Valley School Board considers cutting several positions
Derry Township School District administrators warn of danger down the line if hard decisions aren't made
Erie Times-News troubled by Erie County Technical School cuts
Reading School District is dealing with budget crisis that may force drastic cuts, layoffs, building closings
Central Dauphin School Board plans to cut 84 jobs, raise taxes to balance budget
Jersey Shore Area School Board may cut seven positions
Antietam School District approved applying for PDE permission to eliminate teaching positions next year
Wilkes-Barre Times Leader
Wyoming Area School Board mulls school closure as one money-saving option
Wilson Area School District could eliminate eighth-grade Spanish
Riverside School District faces $1 million shortfall
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Here's how devastating cuts can be avoided by closing loopholes and delaying tax cuts (Original post)
|Mc Mike||Apr 2012||#1|