Today Markell announced for the benefit of Colin Bolini and David Anderson, that he had rolled the top marginal rate down two tenth’s of one percent…

That number drops the top marginal rate to 6.7% down from 6.9%……

If you are making $60,000 dollars, the bottom tier where this begins, that percentage will save you…… $120 dollars….

If you reported an income of $1 million, you now have…… $2000 in your pocket…..

If your income is at $10,000,000 you are keeping an extra $20,000 in your pocket…

The whole principal behind tax cuts is that it frees up money that flows through the economy.

That principal is flawed.

If you received $20,000 would you buy stuff? Especially when you probably already had, with an income of that level, everything you could possibly want?….
No, you would put it in the bank and use it to buy investments, which do absolutely nothing for the economy.,…

If you received $2000, would you spend it all on a purchase? No, at that income level you would consolidate and pay down some debt. Again, that is good for you, but it does nothing for the economy.,….

If you are like Al Mascitti, and get $120 dollars as a surprise gift…. Do you spend it? Yes probably, but most likely it gets spent at Atlantic City……. Again, it helps their economy, but does nothing for ours…

We need to debunk this myth that tax cuts help anyone. They don’t…

The solid sure fire way to get an economy roaring IS to do what Markell did, but with strings attached.

The string is that, we will let you have this tax cut, only if you spend it in Delaware… And the best way to do that, is to deduct an expense invested in Delaware from the taxes owed at the end of the year...

Make investing in Delaware a deductible, and then our economy will grow. Make it for both individuals and businesses, then, we will grow twice as fast….

All that money saved from state workers taking a 2% pay cut, some losing their jobs, and others losing their benefits, just got pissed away…….

We need to be smarter next year…….