Or better yet tax the man in the suburbs, as Russell Long might have said if he were alive today and lived in Logan Circle.
Under one of two bills, the council would limit real estate tax increases on owner-occupied housing to 5 percent a year starting in fiscal 2008, says the WaPo. Currently, the city has a 10 percent cap.
The second measure would extend an estate inheritance tax exemption from $1 million to $3.5 million in 2009. That change is similar to exemptions established by states and the federal government.
Some argue this is not fair to the city's poorest residents, but doesn't the current tax structure undermine the city's tax base. Should we not encourage the wealthy to stay here in the city? We support high taxes on the rich nationally, but locally high taxes only encourages folks to move to Rockthesda or NOVA.
Moreover, the city should do whateve it can to alleviate the burden on residents and tax commuters because they don't pay their share. How high would a snack tax have to be to eliminate the property tax? Anybody wanna buy a $500 bags of Utz chips?
May 3, 2007
Don't Tax Me, Tax The Man Behind The Tree
May 2, 2007
THE NIGHT OWL TURNS GREEN
Time for a commuter commuter tax congestion toll? Mayor-for-Life Marion Barry thinks so. If the Supremes won't let DC tax the income produced within its borders, why not impose a fee to cross the border?
"More than 400,000 nonresidents are on our streets every day, getting police protection, fire protection, causing potholes," Barry told WTOP. "We love them, but they ought to pay some money for tearing up our streets."
Barry did not suggest a price for the tolls, saying that would be for the commission to determine. His legislation was co-sponsored by council members Harry Thomas Jr. and Kwame Brown.
Despite the district's strong economic footing, the city faces a gap of up to $1.2 billion a year between how much revenue it can collect and how much it needs to operate, according to a federal study. The disparity is partly blamed on the city's inability to tax the income of about 480,000 people who work in D.C. but live elsewhere.
Income
