Monday, May 02, 2005

Income Taxes v. Property Taxes

The shift for funding schools through income taxes instead of property taxes is gaining support. A bill goes in today to do just that, sponsored by Assemblyman Manzo (D-Hudson.) The Republicans aren't happy about it, because it raises taxes and doesn't have any provisions about local governments cutting spending.

We've got to pay for schools with money from somewhere. This works for me.

If you make more than $30K a year, your income tax will go up, but according to Manzo, if you make less than $300K a year you make out on the deal. My favorite provision of the bill is eliminating the silly rebate programs. I know, I know, it's nice to get a check every year. But whose money is it that you're getting back? Your own!! (Occasionally someone else's, depending on your income level.) Plus it costs money to administer the program of giving us back our own money. Of course no politician wants to be the one to take your check away, but it's a stupid idea whose demise is due.

At the same time, the Assembly Democrats are going over the budget very closely to see what we can trim. Unused computers, Atlantic City hotels, airport limos- they're all small potatoes compared to the $4bil budget hole, but it's a start. Yes, they're doing it to avoid the political fallout over dropping the aforementioned (stupid) rebate programs. But anywhere we can lower spending and weed out budget abuse, the better.

1 comment:

Andrew said...

It is amazing how money that you've given the government suddenly beomces found money when you get it back. It's a great racket.

If anyone would like to give me a check, I'll be sure and write you one in eight or ten months (minus interest and administrative costs, of course).