TFOT 4/26/08
Topic: Legislation,Taxation, and Vanishing Emancipation
Guest: Ed Failor, Jr., Vice President of Iowans for Tax Relief
With April 15th just past and April 30th closely approaching, I asked Ed Failor, Jr. to explain the impact of this legislative session on Iowans' wallets.
With recession looming, mortgage foreclosures growing, grocery bills increasing, it seems Iowans are tightening their belts as the Governor is expanding his and increasing Iowa's budget by a billion dollars. Will Iowans catch on to the correlation that the more government offers to do for us, the more it costs us?
Currently, Iowans are likely paying 30% of their incomes in direct taxation. Meaning, everything we have earned so far this year will likely go to Uncle Sam one way or another. Sadly, that isn't all of the taxes we will pay. When we look at hidden taxes like licensing costs, registration fees, and taxes on gas, electric, phone, and other products and services, we will likely be paying 40-50% of our total income to the government. Why do we allow this? Because, for some reason, we expect government to do those things we should do ourselves costing us more money than necessary often with inadequate results. Again, I ask, why?
Then there is SILO, School Infrastructure Local Option tax. This was a confusing and misleading issue for many Iowans. First, Sen. Gronstal blamed Republicans for its possible failure even though most Iowans knew Democrats had a sound majority in both houses and did as they pleased no matter how Republicans voted. Sadly, some Republicans took the bait and voted with Democrats in favor of this bill which takes away local control and the ability for communities to place a sunset on their local option taxes. Lynn and Johnson counties have been excluded from participating, at least temporarily, so the taxpayers are already shorted those funds. To read the
more on this bill go to ITR’s website.
Now, it seems we will have this one cent tax on most everything we purchase, plus bond issues will still be passed by school districts, and unfortunately, property taxes may increase to cover those bonds. One must ask, why did Iowans, let alone good Republicans, fall for the false promise of more money that most rural districts will never see? This bill was nothing more than the redistribution of wealth, which always sounds promising to the guy who sees himself with less than someone else, but seldom leads to prosperity for anyone.
Listeners were warned about the
Collective Bargaining Bill that could cost taxpayers indescribable amounts of money on various levels should the Governor sign it.
Ed recommended listeners read the book Atlas Shrugged by Ayn Rand.
Iowans for Tax Relief is located at 2610 Park Avenue, Muscatine, IA 52761.
For more resources on free enterprise, economics and taxation, see Congressman Bob McEwen's
website "Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone." Frederic Bastiat 1801-1850
Blessings,
Tamara