Despite his hatred of private companies, Martin O'Malley has proposed a $3,000 tax credit for small businesses that hire unemployed people. This is his plan for putting Marylanders back to work.
He mentioned that the state will spend $20 million for this program. When asked where that money will come from (since tax revenues are dropping faster than bodies in East Baltimore), O'Malley's voice got soft and fatherly and he then mumbled something incoherent.
Insiders have informed me that the tax credit for small business will be paid for by a new tax on small businesses. O'Malley's logic, they say, is that if they are going to reap the benefits, they should also pay for it.
Unfortunately, as there are now only 16 small businesses left in Maryland, the impact of the new tax credit will probably be as small as O'Malley's popularity in Carroll County.
Tuesday, December 08, 2009
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