Here are a few low points of the O’Malley budget:
The governor claims $7.5 billion in cuts as he has done every year. The reality is a spending plan that increases 2013 spending just as in years past by a billion dollars.
The governor mentions $311 million in new tax revenue yet fails to mention the additional tax and fee increases such as the massive flush tax and 15 cent fuel tax.
All these taxes will be tacked on to those already existing in the budget...known and unknown.
If you make $100,000 or more, you will see a phasing out of some important Personal
Exemptions such as your mortgage deduction and charitable donations.
His budget continues the discredited practice of transferring dedicated funds from established trust funds to cover over spending in the rest of the budget.
This budget will seek to be funded on the backs of small business with phased out tax deductions and new expanded taxing regulations.
The governor has now defined the “rich” in Maryland as being those making $100,000 or more and they will likewise be taxed at higher rates and experience significant limitations on personal and business deductions..
The budget would apply sales tax to all Internet purchases.
It increases the tax on smokeless tobacco products.
The budget calls for shifting the cost of teacher pensions to the counties who have no room in their budgets for these incredible costs.
The bottom line:
This budget grows government and insures that our private sector will continue to struggle. It expands the definition of “rich” to apply to 30% of our people and insures the middle class will continue to shrink. The disposable income of Marylanders will continue to evaporate, and our local service providers will experience the decline. Deductions that have helped Maryland families keep more of their income at home will , instead, go to the O’Malley coffers. Counties will be forced into budget decisions that will, no doubt, pass on additional taxes to the people of Maryland.
While Maryland struggles under the weight of an ever expanding debt, the governor lifts his eyes to Pennsylvania Avenue.
Not so fast guv...not so fast.