Hawaii State Legislators Move to Pass Massive Tax Increases!
Shame on them!
The artical below is from the Hawaii Reporter. Click on the link for more
http://www.hawaiireporter.com/story.aspx?d0293cd1-a6af-4ac9-bde9-26c0e871f56a
Hawaii Reporter
Freedom to Report Real News
Tax Hikes and Special Fund Raids on the Move at the Hawaii State Capitol
By Jay McWilliams, 3/3/2010 10:08:15 AMHawaii lawmakers passed a number of bills yesterday that the Democratic majority party say will help reduce the state’s $1.2 billion deficit.
Those bills will increase taxes, raid various special funds and suspend tax credits, all resulting in businesses and taxpayers having to pony up more to feed the insatiable appetite of state government.
Some of the tax hikes and special fund raid measures that passed 3rd reading in the House and Senate yesterday include:
HB1907, HD1, to temporarily suspend the income tax net operating loss carryback deduction for losses generated in 2009 and 2010, and places a cap on itemized deductions claimed on state income tax returns –http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=1907
HB2851 HD1, to temporarily increase taxes on insurance premiums – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2851
HB2872 HD1, to temporarily increase the tax rate on banks and other financial corporations – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2872
HB 2887 HD1, to transfer to the general fund moneys from the Hawaii Tobacco Settlement Special Fund designated for the Hawaii Tobacco Prevention and Control Trust Fund – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2887
HB2598 HD1, to take a limited amount of the counties’ share of the transient accommodations tax revenues distribution and give it to the state – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2598
HB2852 HD1, to raise additional state revenues by temporarily imposing from July 1, 2010 to June 30, 2015, the insurance premium tax on mutual benefit societies and health maintenance organizations – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2852
HB2866 HD1, to adjust income tax rates for taxable years beginning after Dec. 31, 2009, and ending before Jan. 1, 2016 – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2866
HB2867 HD1, to temporarily repeal various income tax deductions, exclusions, exemptions, and tax credits until Dec. 31, 2015 – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2867
HB2877 HD1, to temporarily suspend the General Excise Tax (GET) exemption for persons and instead require those persons to pay the GET at one-half percent rate – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2877
HB2962 HD1, to temporarily defer deductions against a taxpayer’s net income tax liability for claims under the Technology Infrastructure Renovation Tax Credit and High Technology Business Tax Credit until July 1, 2013 – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2962
HB1921, HD2, to capture taxes on certain conveyances of real property that currently escape the conveyance tax, specifically on real property transfers that occur within the transfer of interest in a legal entity that owns the real property – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=1921
HB1926 HD2, to impose a $20 fee for all business- and commerce-related professions, businesses or occupations that apply to the state Department of Commerce and Consumer Affairs for a license, permit or authorization, which would result in the raising of $5 million; the money raised would be used to fund the Department of Business, Economic Development and Tourism – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=1926
HB2850 HD1, to temporarily increase the liquor tax rates during the period from July 1, 2010 to June 30, 2015 – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=HB&billnumber=2850
SB2124 SD2, to raid the Hurricane Relief Fund of $86.1 million, to take care of public school furlough days this year and next – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=SB&billnumber=2124
SB2405 SD2, to adopt amendments to Hawaii tax laws to implement the streamlined sales and use tax agreement for Internet and catalogue sellers to “voluntarily” collect tax from the consumers and pass it on to the state Department of Taxation – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=SB&billnumber=2405
SB2052 SD2, to impose a consumer fireworks tax at the wholesale level – http://www.capitol.hawaii.gov/session2010/lists/measure_indiv.aspx?billtype=SB&billnumber=2052
Legislative bills yesterday and today that pass 3rd reading in the House will crossover to the Senate tomorrow, March 4, 2010, and bills from the House will crossover to the Senate for the next round of committee hearings.
The legislature will take up additional crossover measures on Thursday.
Jay McWilliams is with Hawaii Reporter. Reach her at mailto:Jay@hawaiireporter.com/
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But, a corporation is not a natural person and should not carry all the same rights as us natural American citizens. Where the Court’s decision allows easier access to American elections by multinationals with no loyalty to the United States and for foreign corporate money, we are gravely concerned. We are also concerned by the already dangerous sway held by domestic corporations (bailouts, Obamacare and cap-and-trade are again examples).
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