Philadelphia’s Revised 5-Year Budget Gets OK Despite Wage Tax Dustup « CBS Philly

Philadelphia’s Revised 5-Year Budget Gets OK Depite Wage Tax Dustup « CBS 

Mayor Nutter's “Five Year Plan,” for the city's budget was approved today. He changed the plan by deciding not to reduce the city wage tax as previously planned.

PICA chairman, Lawrence Tabas made a valid point about this, stating:

"If we face an increase in the state income tax next year, those two taxes alone are going to have people think twice about the City of Philadelphia, especially when you add the extra sales tax on it.”

“Our young are starting to evaluate whether they can afford to stay in the city.  The middle class are being squeezed.  So if we don’t do something soon, we could hurt the kind of benefits that we've just been realizing from the (economy’s) turnaround.”

The board then went on to approve the budget with its revisions. 

I don't know how anyone else feels, but I don't like working just to pay the city & my bills. I wonder if they talked about cutting out pointless spending (like redoing the front of city hall to put those little fountains there) during that meeting. 

How we're being taxed:

3.92% (Resident)
3.4915% (Non-Resident)

Net Profits:
3.924% (Resident)
3.495% (Non-Resident)

Real Estate:
.6018% (City) + .7382% (School) = 1.34% (Total)

Realty Transfer:
3% (City) + 1% (Commonwealth) = 4% (Total)

Sales & use tax: 
2.00% (City) + 6.00% (Commonwealth) = 8.00% (Total)

Tobacco Tax: 
$0.036 individually rolled items (cigars)
$0.36 per pack of rolling papers
$0.36 per ounce of all other tobacco and tobacco-related item

Nita Michelle

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