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MOKEDWENSIVE
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CURRENT STATE OF OVERTAXATION
Hawaii has the HIGHEST income tax rate in the nation.
Hawaii has the 2nd HIGHEST sales /excise tax collection in the nation. •
Hawaii has the 5th HIGHEST state /local tax burden in the nation (DN won wu lM„mno,, p .
CURRENT STATE OF PERSONAL SUFFERING
Soaring unemployment statewide: 60,000 jobs lost since December 2007. • - •
Unemployment up 250% since 2006. Thousands more job losses projected through 2010.
Foreclosures, backruptcies, late rents, and mortgage delinquencies skyrocketing.
CURRENT DIRE ECONOMIC SITUATION
Local economists don't expect any marginal rebound in the economy until 2011. •
Hawaii has 2nd worst record of job creation results in the nation. •
New business startups in Hawaii down 13 %.
EXISTING BLOATED, INEFFICIENT GOVERNMENT
Hawaii is in the top five states for highest per capita government spending. •
State government's labor costs have nearly doubled in just nine years. LL ... • ..
To pay for big government, more local folks hold down multiple jobs than the national average.
PROPOSED 25% HIKE IN SALES / GENERAL EXCISE TAX (G.E.T.)
Before the recession began, the 12.5% increase in the G.E.T. since 2005 for the rail project was projected to result BY NOW in 6,508
fewer private sector jobs, $159 million decrease in private investment, $360 million decrease in state personal income, $765 million
decrease in disposable income. The recession has substantially magnified these declines. , •
Raising the G.E.T., because of its pyramiding characteristic,
could have a 'devastating impact" on the state's economic recovery.
The current "pyramiding" effect of Hawaii's G.E.T. at 4.79% equals a mainland sales tax of 19.7 %. The effect on Hawaii
residents of a 25% increase of the G.E.T. is unthinkable.
It's UNNECESSARY, as the governor and House majority offered budgets that do not rely on a G.E.T. hike to close the deficit.
FALSE PROMISE OF HELPING HAWAII'S POOR
The poor (and all income levels) will pay HIGHER TAXES and HIGHER PRICES 24 HOURS A DAY, 365 DAYS A YEAR,
FOR ABSOLUTELY EVERY GOOD AND SERVICE NEEDED TO SURVIVE IN HAWAII, despite the proposed Earned
Income Tax Credit (EITC), which Hawaii's poor will only see if they file tax returns annually.
What the committees don't understand is that the EITC is anything but a panacea for tax relief for the truly poor. The EITC is riddled with problems,
complexity, and abuse by taxpayers and tax professionals. The EITC is also counterproductive in the sense that it only rewards the poor who actually work
and have multiple children. If you are out -of -work, don't have enough kids, or work too much, you get nothing. ;,; .. ,.,.,:.,, .., ;,,,,,; ;,,.,, ,.
ARECIPE
Q1IES1ION: - , ANSWER:
°I guess the question for the broader community is when you look at Don't hurt island families and island employers with even higher
the alternatives that are in front of you, and the impacts on business taxes and even higher prices. Cut government spending instead.
and on the consumer, you just have to sort of ask them, 'How would Costs have nearly doubled in only nine years. (see chart on back) It's
you rather we solve this problem ?" asked state Sen. Carol time to trim the fat. Stop wasting our money and start cutting back.
Fukunaga, 0-11th (Makiki, Pawa'a), the chairwoman of the Senate Hawaii cannot afford a gigantic, super- expensive State government.
Economic Development and Technology Committee. ,, The era of endless giveaways to special interests must end now!!
W1T11 EVEN INGNER TAKES + EVEN RIMER PRICES ... www.OvertaxedHawaii.com
CUT 60VEIiNMENT SPENDING