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States Seek Financial Help from 'Sinners'
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 Amid rising unemployment and slowing consumer spending, state governments are struggling to fund the programs and services to which we've all grown accustomed. Everything from after-school activities to government-run tourist attractions are at risk. California's woes, in particular, have been well documented over the past several months.
The good news: Many states have found a way to plug these gaping budget holes. The bad news: Their solution is to do it the old-fashioned way (no, they aren't going to earn it like Smith Barney)… with tax hikes and even some creative new taxes altogether.
Lisa Scherzer of SmartMoney.com recently took a look at the initiatives on the table across the country. Some old standbys, such as sales-tax hikes and higher vehicle-registration fees, are joined on states' wish lists by a slew of new so-called "sin" taxes on items such as tobacco and wine.
A couple of states are getting especially creative with the latter, and hitting their residents where it truly hurts. According to Scherzer:"Massachusetts is proposing a tax on satellite television service and Georgia lawmakers are proposing a 'pole tax' that would charge gentlemen’s club patrons $5 at the door." Wondering what to expect in your neck of the woods? For a closer look at what several states have in store, check out the full article at SmartMoney.com: "6 States Hitting Residents With Big Tax Hikes."
Have new or higher taxes in your state put a strain on your family budget? Are you bracing for more hikes? Share your stories.
Message Edited by Anthony_Catalano on 06-30-2009 12:57 PM
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