The City of Philadelphia cannot continue to tax its way out of every financial crisis. The city has bounced back reasonably well from the economic downturn of 2008, but Philadelphians are weary of the extraordinary tax burden they currently bear, one of the highest of any major city in the nation. I would support a two-year moratorium on any additional hikes in property taxes for homeowners in the city.
Raising property taxes every year to patch holes in the School District budget, for example, is a recipe for disaster and will only lead to suburban flight at the exact time people are finally starting to move back into the city. The Wage Tax is an additional source of angst for city residents and I support the gradual, incremental cuts to this regressive tax. I also am interested in ways to reduce or eliminate the city’s Business Privilege Tax, which excessively burdens small businesses, regardless of whether or not they turn an annual profit