Wednesday, October 29, 2014

1/4 Cent for Schools Committee Filings story, correlations and thoughts

"Community interest groups and businesses have donated more than $100,000 to a committee campaigning for a quarter-cent increase in the local sales tax rate.

...Future boards of commissioners could opt to use the money raised for another purpose.

As the economy falters, 
the money will most likely be used to prop up Guilford County's falling tax revenues
to pay off existing debt.

...The Greensboro Realtors group also asked the state organization to donate to the sales-tax committee. The state association’s donation of $25,000 is the largest the committee received, according to the disclosure report.

Do the Realtor's associations prefer a regressive non-real estate related tax? 

...A sales tax increase is “a way to fund county services by masses instead of relying solely on property taxes for revenue,”...

...No group opposing the sales tax referendum has registered with the county Board of Elections.

...there’s no guarantee revenue from the tax increase would always go to local public schools.

Opponents also question whether Guilford County Schools is using public money to advocate rather than educate on the issue of a tax increase."
24 Hour Notice;

Art Winstead, Treasurer
Address of 1/4 Cent for Schools Committee; Where Art works
Davenport Marvin Joyce & Co., LLP
703 Green Valley Rd Suite 201,
Greensboro, NC 27408

Art Winstead was Mike Barber's last Treasurer, who worked for free, but got appears to have been paid via Barber's taxpayer funded First Tee.

Arthur Winstead Jr., Treasurer for Mike Barber's City Council Campaign, appears to have given $250 and didn't get paid, but charged First Tee a relatively higher $15,000

From Mike Barber's City Council Economic Interest Disclosure signed on February 24, 2014

Charitable Compensation and Mike Barber's First Tee of the Triad

This looks like why Mike Barber freaked out about naming salaries of non profits doing business with Greensboro.
1/4 Cent for Schools Committee Filings

Taxpayer funded Greensboro Partnership

Koury Corporation, who would most likely prefer a non-property tax that costs poor people more, rather than Koury Corporation.
'Regressive Tax'

A tax that takes a larger percentage from low-income people
than from high-income people.

A tax that takes a larger percentage of the income
of low-income people than of high-income people. hits lower-income individuals harder.

Sales taxes...are generally considered to be regressive
...because expenses for food, clothing and shelter
tend to make up a higher percentage
of a lower income consumer's overall budget.

...even though the tax may be uniform (such as 7% sales tax),
lower income consumers are more affected by it
because they are less able to afford it.

...a regressive tax imposes a greater burden (relative to resources)
on the poor than on the rich
— there is an inverse relationship between the tax rate
and the taxpayer's ability to pay
as measured by assets, consumption, or income.

Regressive taxes tend to reduce the tax incidence
of people with higher ability-to-pay,
as they shift the incidence disproportionately to those
with lower ability-to-pay.

'Regressive Tax'

If the tax passes and the economy tanks, 
poorer citizens in Guilford County will be paying for what wealthy landlords etc...
won't have to pay because it's a sales tax instead of a property tax.