News from Patrick Flynn

On Thursday, December 17, Eagle River resident and former mayoral candidate Bob “The Joker” Lupo pitched his proposal for revamping Anchorage’s tax structure to the Budget & Finance committee.  (Editor’s note: “Joker” is not used pejoratively here, instead it is the moniker bestowed upon Mr. Lupo by his motorcycle club.) In a nutshell, Mr. Lupo’s plan would replace Anchorage’s property taxes with a 5% payroll tax, “payable from any wages paid from within the municipality to anyone living anywhere, so those who earn here but live elsewhere will still contribute (emphasis from Mr. Lupo).”  According to Mr. Lupo’s analysis a 5% payroll tax would yield $263.3 million from Anchorage residents and $25.3 million from non-residents for a total of $288.6 million, which exceeds current property tax collections by more than $40 million.  Lupo touted this, noting, “This is more than enough to finance the current municipality’s budget, pay off the deficit, and have a surplus to boot!”

(more…)