Tag Archive: Tax revenue


Beretta USA Announces Decision To Move Its Entire Maryland Manufacturing Capabilities To Tennessee

 

 

 

 

 

 

 

From the Beretta USA press release:

 

 

” Beretta U.S.A. Corp., located in Accokeek, Maryland, announced today that it has decided to move its manufacturing capabilities from its existing location to a new production facility that it is building in Gallatin, Tennessee.  The Gallatin facility is scheduled to be opened in mid-2015.  Beretta U.S.A. had previously planned to use the new Gallatin, Tennessee facility for new machinery and production of new products only.

“ During the legislative session in Maryland that resulted in passage of the Firearm Safety Act of 2013, the version of the statute that passed the Maryland Senate would have prohibited Beretta U.S.A. from being able to manufacture, store or even import into the State products that we sell to customers throughout the United States and around the world.  While we were able in the Maryland House of Delegates to reverse some of those obstructive provisions, the possibility that such restrictions might be reinstated in the future leaves us very worried about the wisdom of maintaining a firearm manufacturing factory in the State,” stated Jeff Cooper, General Manager for Beretta U.S.A. Corp.

“ While we had originally planned to use the Tennessee facility for new equipment and for production of new product lines only, we have decided that it is more prudent from the point of view of our future welfare to move the Maryland production lines in their entirety to the new Tennessee facility,” Cooper added. “

 

 

While the Washington Post had this to say …

 

 

” The Italian company had disclosed a $45 million plan this year to expand operations to a new factory near Nashville. But Beretta has decided to go beyond that plan because, a senior executive said, the company is “very worried about the wisdom of maintaining a firearm manufacturing factory” in Maryland.

  Maryland’s new gun restrictions, pushed by Gov. Martin O’Malley (D) after the Sandy Hook Elementary School shooting in Newtown, Conn., bans 45 types of assault rifles and put in place tough fingerprint, photo identification and training requirements. Magazines are limited to 10 rounds.

  A version of the legislation that passed the state Senate “would have prohibited Beretta ­USA from being able to manufacture, store or even import into the State products that we sell to customers throughout the United States and around the world,” the company said.

  Jeff Reh, a spokesman for Beretta USA, said in an interview that executives had become increasingly worried that future legislative sessions could end more “disastrously” for the company. “We wanted to control our own destiny,” he said. “

 

 

     It never ceases to amaze us that the politicians always seem to believe that they operate in a vacuum , that there is no alternative save to do as they command , even while the market continues to demonstrate endlessly that foolish , naive , “feel good” legislation comes with a price tag … that of lost jobs , lost revenue and lost taxes . Good for Tennessee , good for Beretta …

 

 

 

 

 

 

CBO: TAX REVENUE HITS ALL-TIME HIGH

 

 

” While President Obama claimed repeatedly during both the fiscal cliff and the sequestration debate that America’s problem lay just as much on the tax revenue side as it did on the government spending side, new statistics show what a lie that is. According to the Congressional Budget Office, federal tax revenue will hit $2.7 trillion in 2013, the highest number ever.

Liberals will hang their hat on the fact that tax revenue totals 16.9 percent of GDP this year, as opposed to 18.5 percent in 2007, but that is because people earn less taxable income during recessions.”

 

 

 

 

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… How Much Government Would They Pay For?

 

 

 

taxes

taxes (Photo credit: 401(K) 2012

 

 

 

 ” Let’s assume that the two winners who will split the jackpot take the estimated $379.8 million lump sum. After all, with President Obama’s call for a tax increase on upper income earners, a call echoed by Warren Buffett, these newly minted millionaires could face a 39.6 percent rate—not the current 35 percent.

 

Suppose they’re smart, though, and take the money this year. Then the federal government keeps $132.9 million and the winners keep $246.9 million—less whatever state and local taxes they will owe.

 

Total spending in fiscal year 2012 was $3.54 trillion. Put in other terms, the government spent an average $9.7 billion a day, $404.1 million an hour, and $6.7 million per minute. Do the math, and that $132.9 million in tax revenue would fund the entire federal government for a whopping 20 minutes. “