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Do they think families will be better on h the companies Mom and Dad work for can’t grow, or worse yet, have to reduce investment or lay-off employees to pay taxes? Virginia’s economy is just now starting to improve, and what we need is job growth (that’s more people working and paying taxes) and more disposable income (which means more sales tax revenue).
It hasn’t helped that the end of the regular session was marked by frustration and ill-will. In addition to going after each other, some legislators exhibited clear disdain for their constituents, including those in the media.
The budget bill sponsored by Delegate Philip Hamilton (R-Newport News) would eliminate the sales tax exemption on all media advertising. Whether Hamilton knows, or even cares, this move would hurt media companies, and have an even more chilling effect on the many businesses that rely on advertising to sell their products and services.
This would end up costing Virginia far more in the long run than it would generate in tax revenue. So far, this bad bill has passed the House, but was stopped on Sunday, at least for now, in the Senate. But then again, we still have the weekend.
Is it the people we elect, the system, or both?
Obviously, those legislators who think they got elected because of their “No New Taxes” pledge are finding it difficult to five up to the slogan this time. As a result, they’re trying to hide the higher tax income the state needs by putting the burden on businesses. But the “unintended consequences” of this shift will be disastrous.
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