Thank you for the excellent story in Hawaii Reporter on the rise in conveyance tax in Hawaii from June 24, 2005.
See "Republican Governor Breaks No New Tax Pledge, Signs Conveyance Tax Increase"
Thank you for pointing out the true facts about the Hawaii conveyance tax
increase that the mainstream newspapers in Hawaii decided not to
emphasize.
The claims by "Republican" Gov. Linda Lingle that the money collected by this
serious increase in taxes will go to watershed lands protection or low
income housing is not entirely true. The truth is that a large portion
of the money collected will go directly into state coffers via the general
fund. This is a break in her promise to Hawaii's voters that she would
not increase taxes and it is outright deceptive.
The current boom in jobs and incomes in Hawaii is tied to the hot real
estate sales and development market. This bill hits those markets hard
and affects the largest and most promising projects in the state the
hardest. Business plans will show that other states may be better to do
business in than Hawaii. Construction jobs are lost, jobless rates
increase. Welcome to the '90s again.
The conveyance tax slaps motivated and successful families in Hawaii right
in the face and says "Take that for being so productive. Who do you think
you are anyway?"
I also commend you in pointing out that this tax will affect more than
just the "rich" as the socialists say in Hawaii. Median house prices are
up and are not going anywhere but up for some time. This new tax increase
will hurt everyone! Not to mention the construction workers and real
estate agents who will see their pay checks go down as buyers and
developers decide not to move forward with purchases.
We all get hurt when taxes are raised on an industry that is keeping Hawaii
working right now, Real Estate. This tax increase was a money grab on
people who are trying to get ahead and build something for themselves and
their children. It is a fraudulent claim to say it was necessary or the
right thing to do. It was a big tax grab on hard working Hawaii citizens.
It is shameful.
Christopher LaVoie M.B.A. is the editor of HawaiiIndependent.com and can be reached via email at mailto:christopher@hawaiiindependent.com
HawaiiReporter.com reports the real news, and prints all editorials submitted, even if they do not represent the viewpoint of the editors, as long as they are written clearly. Send editorials to mailto:Malia@HawaiiReporter.com
