Submitted By Todd on June 2nd at 8:32pm
If you're thinking of refinancing your mortgage, you might want to act fast. Gov. John Lynch is looking at a proposal that would tax refinancings the same way we now tax real-estate transfers.Former New Hampshire Governor John Sununu called this an empathy tax on the Howie Carr Show today.
Ralph Coppola, past president of the Mortgage Brokers and Bankers Association, hasn't met with Lynch's staff yet, but thinks the tax would clash with Lynch's efforts to help homeowners avoid foreclosure.Democrats love growing government, raising taxes in almost every state and in Washington as unemployment skyrockets, while claiming to feel your pain! New Hampshire and Connecticut are among states even thinking of taxing home heating oil!
A bill before the General Assembly that would have, for the first time, taxed fuels used to heat our homes and businesses has thankfully died. But the proposal, which included a 5-cent-per-gallon tax on heating oil and propane, and $1 per month tax on natural gas users, could well be revived as the legislature tries to cover the massive revenue shortfalls predicted for this and the next two fiscal years.Illinois' new governor (not elected to the job, as you may recall) says compassion requires a putting bigger burden on the working man.
Illinois Gov. Pat Quinn is trying to shame lawmakers into voting for an income tax increase to avoid massive budget cuts... Quinn accused lawmakers of throwing overboard the state's poor by failing to back the tax increase.Taxpayers are growing tired of being punished for their productivity while the so-called social safety net grows continually larger - at least, in California they are. You'll recall that voters rejected out of hand a series of tax hike ballot measures pushed hard by Arnold to fill a $24 billion deficit.
Schwarzenegger helped behind the scenes to garner big contributions for the measure's proponents, who raised about $30 million and outspent foes by nearly 10 to 1.While Dems con voters with sob stories of individual hardship and argue for supporting the safety net, we are fast turning into a country where the majority will be on the dole.
In California, one so-called social safety net program, Medicaid, costs $36 billion per year! Nationally, Medicaid runs almost 10% of all federal spending. That's not a safety net, that's a way of life.