We have an opportunity
to restructure our entire tax system in Maryland over
the next four years in a way that will bring jobs into
the State and rebuild communities that have deteriorated
over the last eight years. The handful of legislators
that have pushed for tax cuts are just trying any cut
they can put through. More thought must be put into
what the best way is to return tax revenue back to our
residents.
Our
first priority is to lure businesses and industries
into the State. This does not have to cost Maryland
very much, because more employment generates more revenue,
and reduces expenditures in social services. Frequently,
tax breaks for specific businesses cost the State nothing.
Politicians and news commentators that oppose such tax
breaks portray the entire tax break as a loss. They
are wrong. If a business doesn't open or relocate here,
we don't get that revenue anyway, so the tax break is
not costing us anything. Additionally, we gain revenue
from the individual taxes paid by each employee. We
need to examine these case by case, or industry by industry,
to make sure that we are not hurting existing businesses
by giving someone else an unfair advantage, but we can
offset this by sharing the increased individual tax
revenue with existing businesses, and we can accomplish
that by giving tax cuts or rebates to existing businesses.