Word: surtaxing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Unfortunately, while taxes in Massachussetts are below the national average, 67 percent of voters support Question 3, which would repeal a seven-and-a-half percent surtax on income and limit the growth of state revenues. That would threaten existing programs, not to mention an expensive clean-up effort. Vote yes on 4 and no on 3. It's time to face the problem and the cost...
...Legistature Tax Cap Bill will immediatelly repeal the 7.5 percent income surtax at a cost of $135 million, restore the $2,200 personal exemption, reduce taxes for lower-income families and small businesses, and impose a cap on future taxes...
Gallagher, like many liberals, does not support either, because he believes the bill's plan to repeal the surtax and forbid its reimposition will starve Massachusetts social services and education of funding...
...main reason is that the tax bite has increased 15% to 20% for many middle-income families. They are now paying higher levies on everything from rented cars to boat insurance and, for some 2 million with annual incomes of more than $20,000, a 5% to 8% surtax on their earnings. As a result, many people have been spending rather than investing their savings...
Jackson does have an agenda, which, like those of his Democratic opponents, is constrained by the federal budget deficit. He would raise $50 billion from a one-or two-year surtax ranging from 1% on incomes of $25,000 to 10% on incomes over $90,000. He would save another $80 billion by cutting defense outlays by 20%. But if Jackson reduces the deficit by $70 billion, as he proposes, and fulfills his intention to spend $50 billion to rebuild the nation's infrastructure (roads, bridges, water systems, mass transit), he would have only $10 billion left to fight...