Why are so many so angry? The Tax Hound found at least one reason. She considers a property tax debt collection case out of Colorado. A mobile homeowner’s experience with local tax authorities may help explain how frustration and suspicion might stoke voter anger and convince some that the system is rigged against them.
The hottest state ballot measures. TPC’s Richard Auxier runs them down. The most far-reaching may be in Washington, where voters will decide today whether to OK a first-in-the-nation carbon tax. Elsewhere, ballot measures include proposals to raise taxes on cigarettes, whether to legalize and tax marijuana, and whether to tax soda and other sugary drinks. In Colorado, voters will decide whether to do an end-run around the state’s curb on tax increases by boosting levies for a new health program.
The priciest proposal on a California ballot? The New York Times reports that soda taxes on San Francisco and Oakland ballots have prompted $50 million in advocacy spending. That’s enough to buy each of their residents 40 cans of soda. The beverage tax initiative is far down on the cities’ ballots. The question is: Will voters have enough energy to read and vote on every ballot measure?
And in Hong Kong… Property taxes are going to climb steeply as the city wants to cool a too-hot real estate market. The Wall Street Journal reports (paywall) that the stamp duty on home purchases by an individual or corporation will almost double from 8.5 percent to 15 percent. Home prices have jumped by nearly 9 percent this year.
India reforms its tax code for the first time since its 1947 independence. The world’s largest democracy set rates for its new Goods and Services Tax system. The rates will range between 5 and 28 percent, depending on the product. Standard rates will be 12 or 18 percent. India has not yet announced, however, which rates will apply to which products.
Congress is still in recess, but the Daily Deduction resumes it regular schedule this week to report on national, state and local elections.
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