It’s Official: O’Malley seeks to screw middle class

Signed sealed and delivered according according to the Sun:

Gov. Martin O’Malley will seek a 1-cent increase in the sales tax rate, a 1 percentage point increase in the corporate income tax rate, a $1-a-pack cigarette tax increase and a series of other measures to tackle a budget shortfall he now estimates at as much as $1.7 billion — and to fund new spending programs, legislators said….

Though the package would require Marylanders to pay more — including money from slot machine gambling, the total package tops $2 billion — it would also readjust the tax system to lessen the share of the burden borne by low- and middle-income families. O’Malley is proposing a property tax cut, an income tax cut and an enhancement to the state’s earned income tax credit to offset the effects of the sales tax increase on low-wage workers, legislators said.

That’s right, he seeks to screw the middle class by raising the cost of all goods to spend for programs we can’t afford, and then on top of it add more programs we already can’t afford. And by merely proposing property tax and income tax cut, his administration is going to try avoid and getting saddled with the fact that the General Assembly will likely not allow for an income tax cut and a property tax cut. They are trying to have cover for 2010 and beyond.

Apparently, the Governor spent his formative years too busy caught up trying to be a rock star than trying to learn basic economics. Why else do you both simultaneously try to raise revenue and increase spending when you are already spending too much. It’s a completely ridiculous economic policy, in a state already full of ridiculous economic policies…

(Crossposted)






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