Pro-Abusive Tax Shelters
Pro-Abusive Tax Shelters
The Great Falls Tribune today shows exactly how far to the right the conservative movement has moved. Right-wing legislators in Montana have come down on the side of abusive tax shelters, voting against commonsense legislation to close these loopholes bening taken advantage of by tax evaders.
As the Tribune notes, the bill they are opposing “goes after illegitimate income-tax shelters by requiring businesses and individuals to file additional information on transactions that may be taxable. It says those who fail to provide such information shall pay a $10,000 fine for an individual and $50,000 for a business. It also attempts to crack down on those avoiding capital-gains taxes on real estate sales. [And] it targets Montana people or businesses who establish residency in a state without income taxes for the purpose of selling property, so they don’t have to pay Montana income taxes.”
So basically, if you are against this, as the right-wingers are, you are actually FOR abusive tax shelters that rip off regular taxpayers and rob state government of revenues it needs for basic services. How much farther right can these people go before they want to officially turn the government over to special interests and the wealthy?
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Thankfully, we have a Democratic controlled state senate and a Democratic governor.
The bill has passed committee on party lines (6-5) and has a fair to good chance of passing through the Senate. The excuse from the Republican side was that the bill “might have unintended consequences” and needs more study. There is an end of week deadline for advancing tax bills.
As a Montana citizen, I will voice my support for this bill to my Republican State Senator and I urge everyone else from MT to do the same.
March 30th, 2005 at 5:52 pm“How much farther right can these people go before they want to officially turn the government over to special interests and the wealthy?”
wait, haven’t they done this already?
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