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Tax Reform

NEWS
September 18, 2012
T HE DAILY NEWS People's Editorial Board is a group of nine citizens who meet every month to discuss and weigh in on the big issues facing the city. ( philly.com/philly/blogs/ peb ) This month, the board tackled business tax reform . We, the People's Editorial Board, were shocked to learn that if you are a local small business, you could be more heavily taxed by the city of Philadelphia than big out-of-state companies. We should amend that: Many of us were shocked, but some of us, who actually own and operate small businesses in the city, were not completely surprised, since we have been paying those taxes for a while.
BUSINESS
September 9, 2012 | By Alan J. Heavens, Inquirer Real Estate Writer
Although the real estate market is showing signs of stabilizing, the housing industry has lobbied both political parties to ensure that they are committed to a full recovery. And, as they have for almost a century, the Republican and Democratic platforms for 2012 include housing-policy statements. Over the years, the planks in these party platforms have been as specific or as vague as the political climate warranted. In 1992, for example, as the country struggled with a recession and a housing downturn, President George H.W. Bush, seeking a second term, proposed a tax credit for first-time buyers of new homes, though the legislation never became law. Bush's Democratic opponent, Bill Clinton, promised to expand the homeownership rate by cutting costs, making financing easier, and removing barriers to low- and moderate-income buyers.
NEWS
August 12, 2012
Just imagine it - taxing an American athlete's gold medal! Why, it's almost like taxing Mom, apple pie, home ownership, and monogamy. Sure, a hard-bitten pragmatist might point out that moms, apple pies, home ownership, and monogamy are frequently if not usually subject to taxes in the United States. But apparently no amount of pragmatism is getting in the way of the drive to pass a tax break for our Olympic medalists. Last month, the group Americans for Tax Reform pointed out that Olympic medals and their accompanying cash honoraria - $25,000 for gold, $15,000 for silver, $10,000 for bronze - can (like most other forms of income)
NEWS
July 6, 2012 | By Troy Graham, Inquirer Staff Writer
Philadelphia City Council members took a pass this year on Mayor Nutter's politically risky plan to tear down a broken property-tax system and start over, but they pledged - in writing, no less - to install his Actual Value Initiative (AVI) next year. Absolutely. For sure. You can count on it. Right? "I have serious doubts AVI will ever be enacted," said City Controller Alan Butkovitz. "Look at what just happened. When City Council got to the precipice and saw all the consequences, they recoiled.
NEWS
June 30, 2012 | By Troy Graham, Inquirer Staff Writer
City Council passed a $3.6 billion budget Thursday, officially delaying Mayor Nutter's planned property-assessment reform for at least another year, while nonetheless raising property taxes 3.6 percent. The hike - the third property-tax increase in three years - would raise $20 million for the nearly insolvent School District of Philadelphia. Coupled with $20 million from an increase in the use and occupancy tax on businesses, which Council approved last week, the district would receive $40 million in new money from the city in the next fiscal year.
NEWS
June 1, 2012 | By Troy Graham and INQUIRER STAFF WRITER
State Sen. Anthony Hardy Williams said Thursday that fellow members of the Philadelphia legislative delegation needed to speak with "one voice" to pass bills essential to enacting Mayor Nutter's property-tax changes, which also could provide desperately needed funding for schools. "Those bills were moving through the legislature quite effectively, quite quietly, the governor was prepared to sign them, until Philadelphia decided to have its own food fight," Williams said. "Some members in our delegation decided that ‘well, maybe it's not in our best interest right now to move forward on this.'?"
NEWS
April 27, 2012 | By Miriam Hill, INQUIRER STAFF WRITER
By measures big and small, Center City is booming, but if Philadelphia does not overhaul its tax structure, it will miss opportunities to keep up with other cities as the economy recovers, according to a report issued Thursday by the Center City District. Philadelphia has transformed a decaying downtown with minimal nightlife into a vibrant area where people enjoy world-class food, shop at trendy boutiques, and, increasingly, live close to where they work, according to the district's 2012 State of Center City report.
NEWS
April 16, 2012 | By CHARLES KRAUTHAMMER
Here we go again. At the beginning of his presidency, Barack Obama argued that the country's spiraling debt was largely the result of exploding health-care costs. That was true. He then said the cure for these exploding costs would be his health-care reform. That was not true. It was obvious at the time that it could never be true. If government gives health insurance to 33 million uninsured, that costs. Costs a lot. There's no free lunch. Now we know. The Congressional Budget Office's latest estimate is that Obamacare will add $1.76 trillion in federal expenditures through 2022.
NEWS
March 30, 2012
This is an opinion of the Daily News People's Editorial Board, a group of 10 citizens who gather to debate hot topics in the city. For more, go to philly.com/peb WE the people began talking about property taxes by taking an anonymous survey of our board. Each member who owns property wrote down the market values of our homes, and what we pay in property taxes. One owner of a $100,000 home pays $5,000 in taxes, while the owner of a $300,000 home pays $3,000; an owner of a $350,000 home pays $6,700.
NEWS
February 23, 2012
In an election year, it's no surprise that President Obama's proposed changes in business taxes have been rudely received by congressional Republicans. Once again, the public's eagerness for bipartisanship is ignored. But Obama knew the likely reception he would get, so he is being accused of playing politics, too, by offering the opposition something they had to refuse or risk being seen as cooperating with a president they are trying to convince voters isn't worthy of reelection.
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