Daily Archives: March 11, 2010

Paul Ryan’s Plan to Tax You More

From Kevin Drum @ Mother Jones

Rep. Paul Ryan’s tax and spending “roadmap” is a fascinating critter: conservatives all praise it to the skies but none of them want to actually commit to supporting it. The reason for their hesitation is obvious: Ryan’s plan would cut spending dramatically, and supporting it would mean having to explain what, exactly, they’d cut. That would be electoral suicide and they know it. They much prefer their usual game of loudly denouncing “spending” without ever having to say what spending they’re actually opposed to.

However, their reason for supporting Ryan’s plan is also obvious: it would cut taxes on the rich dramatically, and there’s nothing conservatives like better than cutting the tax bills of America’s wealthy. But how much would it cut taxes on the rich? Citizens for Tax Justice has run the numbers and the answer is: a lot. The very richest of the rich would see their tax bills go down by an average of over $200,000, a whopping 15% of the income. Ka-ching! To make up for that, everyone with an income under $100,000 would have their taxes increased by about $2,000 per year.

It’s a sweet deal for the rich. But even with all the tax increases on the middle class, Ryan’s plan still raises less revenue than today’s tax code. “It’s difficult to design a tax plan that will lose $2 trillion over a decade even while requiring 90 percent of taxpayers to pay more,” says CTJ acerbically. “But Congressman Ryan has met that daunting challenge.” Details are in the table below, where you can find out how much more you’d have to pay under Ryan’s plan. Enjoy.

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Filed under House Republicans, Mother Jones, Rep. Paul Ryan, tax and spend

Vincent Solomeno for Freeholder: My statement from the hearing: Why I oppose the Monmouth County budget.

Vincent Solomeno, Candidate For Monmouth County Freeholder, attended the March 9th 2010 public hearing on the proposed Monmouth County Budget at the Eastern Branch of the Monmouth County Library in Shrewsbury.

Solomeno read into the record the following statement as to why he opposes the proposed budget that the Freeholders have offer-up. The statement can also be found at his facebook site:

Good evening, my name is Vincent Solomeno, and I’m a property taxpayer from Hazlet. I first want to thank the professional staff for the time spent preparing this budget proposal.

That said, members of the Board, it is my hope that you reject this proposal. Monmouth County residents simply can’t afford this level of spending. It’s time to go back to the drawing board and produce a budget with significant savings.

This is no normal time—the worst economy in generations. Clearly, the status quo is unacceptable.

Yet as I read the budget proposal, a number of areas go unaddressed—areas that if cut can result in significant savings for taxpayers. Unfortunately, this budget is more of the same, when that’s exactly what we can’t afford.

This budget does not consider the potential savings of combining the purchasing departments of the county and the parks system—a redundancy which costs taxpayers money.

This budget does not consider the savings to be had by combining our two motor pools.

And at a time when many private-sector workers are seeing their salaries cut or their wages frozen, this budget does not consider the savings to be had by freezing the salaries of non-contractual personnel earning over $100,000.

The important question I hear from my neighbors is, “Why?”

Why doesn’t this budget end the practice of awarding no-bid contracts for professional services? Doing so would increase efficiency, guarantee transparency, and save taxpayer dollars.

Why doesn’t this budget honor the intent of the cap law? Monmouth County families know it’s time to do more with less. You wouldn’t hand a credit card to a shopaholic, so why, in these economic times, should the county spend significantly above the cap, when all it means for residents is higher taxes and more spending?

I understand the enormity of the task before you. We may disagree over specific priorities, but we all know—just like Monmouth county families know—that in this time of stagnating wages, layoffs, and rising property taxes, it’s time to make tough choices.

This budget doesn’t make those tough choices. We don’t live in a fairy tale, and we can’t wish our problems away. We simply can’t afford tax increases year after year. Enough is enough.

Monmouth County families are struggling. We owe it to them to cut this bloated budget and bring them real property tax relief. I hope you have the courage to do just that.

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Filed under budget meeting, Democratic Candidate, Facebook, Hazlet, Monmouth County Freeholder Candidate, Vincent Solomeno