The package of taxes and fees crafted by Baltimore Mayor Stephanie Rawlings-Blake and City Council members to meet a budget deficit last year is estimated to fall short of projected revenues by nearly $17 million — more than a third of the income that it was expected to generate — city finance officials said Tuesday.But tell them that spending decreases when a commodity or service is taxed, and you're accused of "voodoo economics"........
The city will receive $12 million less in income tax than officials had projected — most likely due to unemployment, officials said — and a controversial bottle tax is predicted to generate $1 million less than officials had expected, city budget director Andrew W. Kleine told council members at a hearing.
16 March 2011
Can We Say "See, I Told You So!" Yet?