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U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

U.S Banks Post Second-Highest Profit in 23 Years in 2Q 2014

( Wall Street Journal ) Banks are lending to companies and individuals at the fast...

Taxes and Jobs Do Not Mix

Governor O'Malley and the Maryland General Assembly leaders are preparing to pass a 15 cent gasoline tax hike. This tax increase will cost 800 million dollars and has a huge negative impact on the family budget.

Not only will gas prices go up, but the cost of food and other products will increase. The truckers who haul the food have estimated that each individual driver will have additional costs of about 2 thousand dollars per truck. This is a regressive tax and a great burden on working and middle class families.

Recently, the bureaucrats in the Department of Transportation passed a toll tax hike that will cost 500 million dollars. The combined cost of these two taxes will amount to 1.3 billion dollars. This is an amazing amount of money that will be confiscated from taxpayers, the family budget, and the private economy.

Politicians in Annapolis have been robbing the transportation trust fund blind. Over the past 5 years, they have stolen more than 800 million dollars to finance non-transportation projects and create a phony balanced budget. Their theft is now being "covered up" by another act of thievery masquerading as a gas tax increase. The costs overruns on the Washington, D.C. super highway known as the ICC and other projects is another reason for the lack of current funding needs. Another problem that is creating havoc with the transportation budget is the mass transit welfare system. Our gas taxes are paying to subsidize the "fare box" costs on the subway, light rail, and bus system. Most of the riders are "free riders."

Now, here is where the story gets interesting. The Governor is attempting to claim that his two tax hikes are really a "job stimulus plan." Of course, President Obama made the same claim. Building and repairing bridges, roads, and other infrastructure will create a bonanza of jobs, according to O'Malley. Calculating the rough math, 1.3 billion dollars will create 5,000 jobs, if you follow the Obama stimulus ratio. At best, these are temporary construction jobs, not permanent career positions.

I have introduced legislation called, "The Jobs Fairness Act" which will mandate that all jobs created as a result of these tax increases must go to American citizens. All contractors, sub-contractors, and new workers would need to submit to the E-Verify program which will guarantee they all have lawful presence in this country. All Marylanders are suffering through the most difficult economic hardships. Not one job, if any are really created, should be allowed to go to an illegal alien. We know that in the construction industry, in particular, the hiring of illegals is rampant. I predict the Governor and other politicians in Annapolis will resist this common sense and fair approach with phony excuses when their support for illegal aliens is the real agenda.

Del. Pat McDonough serves in the Maryland House of Delegates. Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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