Tax Holiday

Certain appliances that meet Energy Star requirements will be exempt from Maryland sales tax from Feb. 19 through Feb. 21, the state comptroller's office has announced. During the "Shop Maryland Energy" weekend, consumers who buy Energy Star air conditioners, clothes washers, furnaces, heat pumps, boilers, standard size refrigerators, dehumidifiers and compact fluorescent light bulbs will not pay sales tax in Maryland stores or online. Dishwashers are not eligible, even if they meet Energy Star specifications.

Nearly half - 48 percent - of American workers haven't noticed that more money is being taken out of their paychecks for the payroll tax that funds Social Security, according to a survey released today by Bankrate.com. In the previous two years, workers' paid 4.2 percent of wages (on income of up to $113,700 this year) instead of 6.2 percent. But during last year's tax negotiations to avoid the fiscal cliff, the payroll tax holiday wasn't extended. Many predicted at the time that low-income workers would be the most hurt by the payroll tax going up 2 percentage points.

If you thought our government was dysfunctional over the looming debt ceiling debacle, it's really just one example of multiple layers of crazy inside the Washington Beltway. And, as always, it seems to boil down to the dirtiest five-letter word politicians claim to have ever heard: taxes. In this case, we're talking about airline taxes. As of now, travelers should be saving about 7-10 percent on airfares because of a budget meltdown that has put the Federal Aviation Administration into a tailspin and denied it the ability - temporarily - to collect taxes or even function.

If you can hold off from buying that energy-efficient refrigerator or furnace for a little more than a week, you could save 6 percent sales tax in Maryland. The state's annual sales tax holiday runs Feb. 16-18 for those buying “Energy Star” products. The state offers answers to frequent questions online.  Consumers can also find online a list of qualified Energy Star products, which runs from washers and dryers to light bulbs.  

Should corporations get a massive tax discount for bringing the $1.4 trillion they've stashed in overseas tax havens back to America? An army of corporate lobbyists certainly think so. They are asking Congress for a tax holiday allowing corporations to pay just a 5 percent to 8 percent tax rate on profits they've kept offshore instead of the normal 35 percent. That's a lucrative reward for companies that have shirked their tax responsibility. Sadly, it's happened before. Congress last gave corporate America a "repatriation holiday" in 2004.

After two years of enjoying a break on the state sales tax every August, many Maryland consumers now plan theirback-to-schoolshopping around the weeklong event. That's one measure of the success of Maryland's Tax Free Week, which will mark its third year when it begins Sunday, state and retail industry officials said. During the tax holiday, which runs until midnight Aug. 18, consumers won't be charged the state's 6 percent sales tax on most clothing and footwear priced under $100.

Some day, innovation and imagination will replace complacency and compromise in the world of public policy. Great teeth-gnashing and public lamentation accompany the decline in state revenues to Baltimore and the 23 counties. Why not let the city help itself?The state legislature should give Baltimore a tool to rebuild its economy and induce people to move into the city. Baltimore should offer all individuals and families who move into the city from another Maryland jurisdiction or another state a five-year holiday from state and local income taxes.

The early results of Maryland's sales tax holiday are in: Retailers liked it. So did their customers. But tax policy wonks? Not so much. It will be a couple of months before the state finds out just how much it lost in sales tax revenue during its third annual back-to-school tax holiday. The state had estimated that it would forfeit about $10 million by waiving the 6 percent sales tax on clothing and shoes of up to $100. Is this good fiscal policy? Probably not. Is this money that could be better spent elsewhere by the state?

Social Security can indeed be fixed. One major step would be to simply restore the FICA tax (a.k.a. the payroll tax) to its historical 6.2 percent rate ("Social Security can be fixed," April 26). The Obama administration, with the help of compliant Republicans in the House of Representatives, reduced the FICA tax at the beginning of 2011 to 4.2 percent. That is a 32 percent cut in money coming into the Social Security program. Does the American public not understand that the dollars collected in FICA taxes are used to pay current Social Security benefits?

If you can hold off from buying that energy-efficient refrigerator or furnace for a little more than a week, you could save 6 percent sales tax in Maryland. The state's annual sales tax holiday runs Feb. 16-18 for those buying “Energy Star” products. The state offers answers to frequent questions online.  Consumers can also find online a list of qualified Energy Star products, which runs from washers and dryers to light bulbs.  

Every kid knows that falling off a cliff is never good, but what about a "fiscal cliff" - how would that feel? Americans may indeed find out, if Congress is unable to pass a budget plan prior to Jan. 1. So, what's at stake if such an event occurs? Plenty. First, some background. Members of both political parties have spent beyond the nation's means for many years. This economic fact of life is a bit more embarrassing for Republicans, since most GOPers at least try to talk a good game of fiscal sense.

A wild windstorm swept through the nation's capital on Saturday, tossing broken tree limbs, downing power lines and forcing thousands of suburbanites to eat dinner by candlelight. On Sunday, with the skies sunny and mostly clear, the oppressive heat that hung on all summer was finally gone and the cooler air of approaching autumn turned the city into a pleasant place. Then, Monday arrived and with it came an infestation of representatives and senators. The lawmakers are taking a break from campaigning just long enough to make sure the government does not go broke by the end of the month.

The early results of Maryland's sales tax holiday are in: Retailers liked it. So did their customers. But tax policy wonks? Not so much. It will be a couple of months before the state finds out just how much it lost in sales tax revenue during its third annual back-to-school tax holiday. The state had estimated that it would forfeit about $10 million by waiving the 6 percent sales tax on clothing and shoes of up to $100. Is this good fiscal policy? Probably not. Is this money that could be better spent elsewhere by the state?

Shoppers in Maryland showed up at area malls and other retail outlets in large numbers Sunday, the first day of the state's Tax Free Week. The holiday from state sales tax for most clothing and footwear priced under $100 was an incentive to spend and an added bonus this time of year, said parents goingback-to-schoolshopping with their kids. "I say every dollar counts," said Kristin Ganoe of Hagerstown, who was shopping atMacy's at the Mall in Columbia with her husband, Roman, and daughter Gabriella, who's going into the third grade.

After two years of enjoying a break on the state sales tax every August, many Maryland consumers now plan theirback-to-schoolshopping around the weeklong event. That's one measure of the success of Maryland's Tax Free Week, which will mark its third year when it begins Sunday, state and retail industry officials said. During the tax holiday, which runs until midnight Aug. 18, consumers won't be charged the state's 6 percent sales tax on most clothing and footwear priced under $100.

If you need to shop for clothes for back-to-school or any other event, hold off until at least Sunday and save 6 percent on your purchases. Maryland's Tax-Free Week, which the state doesn't collect the 6 percent sales tax, starts Aug. 12 th and runs through Saturday, Aug. 18 th.  The tax break applies to clothes and shoes, provided each items costs no more than $100. The tax break also doesn't apply to jewelry, watches, handbags and certain other accessories. You can check which items will still be taxed, or exempt, on the Maryland Comptroller's website . The comptroller also put out this humorous video to encourage consumers to take advantage of the sales tax holiday.

Shoppers in Maryland showed up at area malls and other retail outlets in large numbers Sunday, the first day of the state's Tax Free Week. The holiday from state sales tax for most clothing and footwear priced under $100 was an incentive to spend and an added bonus this time of year, said parents goingback-to-schoolshopping with their kids. "I say every dollar counts," said Kristin Ganoe of Hagerstown, who was shopping atMacy's at the Mall in Columbia with her husband, Roman, and daughter Gabriella, who's going into the third grade.

While the legislators battle it out over taxes in Annapolis, Marylanders will get a brief respite. From Feb. 18 through the 20 th , Marylanders buying certain Energy Star products can avoid paying the 6 percent state sales tax. Items that qualify for the tax holiday include air conditioners, clothes dryers and washers, furnaces, refrigerators, programmable thermostats. For a full list, check out the comptroller's website . This three-day tax holiday on energy products takes place annually on the weekend of the third Monday in February.

Social Security can indeed be fixed. One major step would be to simply restore the FICA tax (a.k.a. the payroll tax) to its historical 6.2 percent rate ("Social Security can be fixed," April 26). The Obama administration, with the help of compliant Republicans in the House of Representatives, reduced the FICA tax at the beginning of 2011 to 4.2 percent. That is a 32 percent cut in money coming into the Social Security program. Does the American public not understand that the dollars collected in FICA taxes are used to pay current Social Security benefits?

Eight of Maryland's 10 members of Congress voted against a bi-partisan plan Friday to extend a national payroll tax holiday - including two who were instrumental in crafting the deal - citing concern over how the measure would affect federal employees. The only Maryland Democrat to support the measure, which ultimately passed both chambers, was Baltimore County Rep.C.A. Dutch Ruppersberger. The deal was also supported by Republican Rep.Roscoe G. Bartlett, who said he almost changed his vote.