Tags: Vermont | budget | taxes | rich

Liberal Vermont Erases Red Ink Without Hiking Taxes on Rich

Tuesday, 26 Apr 2011 05:08 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Democratic political establishment of famously liberal Vermont has balanced the state’s budget without hitting up wealthier residents for more money, The New York Times reports. Newly elected Democratic Gov. Peter Shumlin and the Democratic-controlled Legislature both rejected a tax increase on higher incomes, despite an offer to pay more made by some famous, well-to-do Vermonters, including the founders of Ben & Jerry’s ice cream.

“I’m very grateful to them for their generosity,” Shumlin said. “But we’re already asking a lot of our wealthy residents.”

Some "scattered" taxes went up to close a $176 million gap in a $4.6 billion budget for fiscal 2012, the Times reports. But spending cuts also got the state to its goal of zero red ink, which Vermont achieved without a balanced-budget mandate or amendment. The Freedom and Unity State is the only state, in fact, that has no such provision in its constitution.

“Vermonters like to think of ourselves as able to make sound decisions,” said Republican former Gov. Jim Douglas, “without the heavy hand of a constitution or government forcing it.”


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

500 Army Majors to Be Axed in Latest Budget Cuts

Friday, 01 Aug 2014 22:39 PM

Pink slips will start going out next week to about 500 Army majors – including some on duty in Afghanistan – in the late . . .

Arizona Inmate Was Injected 15 Times During Botched Execution

Friday, 01 Aug 2014 21:54 PM

During the nearly two hours it took for an Arizona death row inmate to die last week, executioners injected him with 15  . . .

Report: California Teachers Among Highest Paid

Friday, 01 Aug 2014 21:00 PM

Teachers in over half of California's schools are paid an average $84,489 a year, a new think tank survey shows.
 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved