SB281 Fiscal and Policy Note (Revised)

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  • JettaRed

    Ultimate Member
    Mar 13, 2013
    1,138
    Middletown
    Sorry in advance if this has already been covered, but I came across the SB281 Fiscal and Policy Note published during the 2013 Session of the Maryland General Assembly.

    It actually summarizes the bill fairly well (though not more succinctly). But what it does is provide the fiscal information associated with implementation of the bill and the impact on small businesses (significant). What I found particularly interesting is the erroneous assumption that revenues associated with the 2013 Firearms Safety Act would increase year to year (9%, 8%, 7.5%, 7%) between FY2014 and FY2018. The projection of net increases in revenue after the first year would be $1.3M to $1.8M.

    Fine and dandy! However, what I think is flawed in the assumption is that there would be more and more NEW handgun purchasers each year. Since the MSP Licensing Division stopped posting the number of applications being processed, it's unknown to me if we are hitting last year's record of 120,000 applications during the first nine months--I kinda doubt it. Also, after the first rush of new HQL applicants, I expect we will see a slowdown to only a fraction of new Maryland residents.

    Bottom line: I hope the State isn't counting on that extra money for anything important.
     

    frogman68

    товарищ плачевная
    Apr 7, 2013
    8,774
    this is another reason not to get the HQL . Doing the same thing with gas and booze buy in DE
     

    Bullfrog

    Ultimate Member
    Oct 8, 2009
    15,156
    Carroll County
    It's a zero sum game brother -- if enough people do that they just raise taxes elsewhere.

    Wrong... wrong on all counts, and wrong in every way possible.

    It is not a zero sum game, there is not a finite amount of money (ever hear of QE, QE2?).

    Even if there were, that has zero bearing on your second statement. None.

    More sales in another state do not mean taxes will rise in that state. There is no connection between the two.
     

    damosan

    Active Member
    Feb 21, 2009
    261
    More sales in another state do not mean taxes will rise in that state. There is no connection between the two.

    You misunderstand. My point is that if our elected offices pass a tax on a Thing in MD they will then rely on the tax projections as part of their spend plan.

    If, a year or two later, they realize that said revenue has not been realized (because MD'ers are buying that Thing in another state in droves) then you can bet money on the fact that they will simply raise taxes in MD to make up for the shortfall.

    D.
     

    Biggfoot44

    Ultimate Member
    Aug 2, 2009
    32,881
    Yes , yes , our illustrus MGA will just keep raising taxes on whatever they feel like to raise their desired pound of flesh.

    But there is still a sense of satisfaction to push back against an illegal tax upon a Fundamental Right.
     

    dblas

    Past President, MSI
    MDS Supporter
    Apr 6, 2011
    13,087
    this is another reason not to get the HQL . Doing the same thing with gas and booze buy in DE

    That works with gas and booze, but not handguns. Now if you don't want or need a handgun, fine.
     

    danb

    dont be a dumbass
    Feb 24, 2013
    22,704
    google is your friend, I am not.
    If this is the only goober assumption you could find in the budget, we'd be good.

    however, sales/income taxes are already something like $170 million lower than they projected in March --for fiscal year july 2013-june-2014. I expect even more downward revisions soon because the economy is pretty awful.

    They were overly optimistic about a lot of stuff! ooops.
     

    JettaRed

    Ultimate Member
    Mar 13, 2013
    1,138
    Middletown
    If this is the only goober assumption you could find in the budget, we'd be good.

    however, sales/income taxes are already something like $170 million lower than they projected in March --for fiscal year july 2013-june-2014. I expect even more downward revisions soon because the economy is pretty awful.

    They were overly optimistic about a lot of stuff! ooops.


    I'm not saying that it was the only goober assumption that they made. I'm saying that it was a naive assumption with significant impact. I wonder too if their costs assumption is equally flawed.




    Sent from my iPhone using Tapatalk
     

    6-Pack

    NRA Life Member
    MDS Supporter
    Jan 17, 2013
    5,647
    Carroll Co.
    To date, about 11,500 HQLs have been issued so far for 2014 (assuming the MSP starts with HQL-2014-000001).
     

    frogman68

    товарищ плачевная
    Apr 7, 2013
    8,774
    That works with gas and booze, but not handguns. Now if you don't want or need a handgun, fine.

    have a handgun , yes I need more but I am saving that money I would spend on them to get the feck out of here :) . Also have 3 lowers that need to be built :D
     

    tball

    Ultimate Member
    May 20, 2010
    2,135
    St. Augustine, Florida
    We need to support our brick and mortar stores to keep them in business

    I hate giving MD a penny for taxing us for exercising our 2A rights. If we don't buy firearms, we are hurting our local dealers who rely on doing business with us for purchases and transfers. Our MD legislators do a little dance on top of a table when a dealer closes. We will end up like D.C. if our gun dealers can't stay in business.
     

    molonlabe

    Ultimate Member
    May 7, 2005
    2,760
    Mountaineer Country, WV
    I hate giving MD a penny for taxing us for exercising our 2A rights. If we don't buy firearms, we are hurting our local dealers who rely on doing business with us for purchases and transfers. Our MD legislators do a little dance on top of a table when a dealer closes. We will end up like D.C. if our gun dealers can't stay in business.
    That was the point of the law.
     

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