More taxes for others
Just to clarify some math from a letter I sent and was published Saturday. The earned income credit from Massachusetts of 15 percent and the Vermont EIC of 24 percent do not create a 9 percent difference. The scary part of this for me is I believe many people, including some of our legislators, would think that. The difference is 60 percent; do the math and translate into taxes. For every $1 in benefits issued by Massachusetts we in Vermont pay $1.60. I am not saying they are right and we are wrong, but I am saying the governor was right and we should be looking at all our tax policies. The people developing tax policy in this state do not understand tax policy and economics. Bad policy is in the pipeline especially from the Senate bill.
If you think the system we have is working talk to some people from the Ascutney area, ask them how the skiing was this year. Money does not rain down from heaven; it is earned here on earth and we need to be careful. If you missed the Ascutney reference, they are closed, the gold town is gold no more, and the effects will begin to show in the coming years. More taxes for everyone else.
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