A lump of coal in our stockings: States to levy a bevy of new taxes

As a tumultuous year limps to an end, state governors are planning to deliver more hits to our already battered pocketbooks. More taxes are coming our way. You may not recognize them because, transparency and honesty be damned, many of them will come disguised as fees, assessments, and whatever euphemisms can be pulled from a government thesaurus to obscure the truth. Donald Lambro of the Washington Times noted:Governors want to levy higher taxes next year on clothes, soft drinks, gasoline, auto licenses and other items that likely will hit low- and middle-income families struggling to make ends meet in a deepening recession the hardest. Officials say they are required by law to balance budgets and that tax increases are necessary as state governments face sharply declining tax revenues, but fiscal analysts say raising these taxes during an economic downturn will only worsen local economies and prolong the recessionLeading the way (down), as it often does, is New York. The Democratic...(Read Full Article)

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