Posted on 06/21/2005 3:22:01 PM PDT by Constitutionalist Conservative
Today, Governor Perry proposed a solution to the recent tax trials of the Texas legislature; a plan which will deliver the largest property tax cut in history to the hardworking people of Texas.
Perry’s plan, if adopted, will result in a net Tax Cut of $300 million for the people of Texas, while providing a solution to the school finance reform dilemma.The measure will serve taxpayers, while providing historic funding increase for schools.
In order to facilitate the tax cut, Perry has proposed a close in franchise tax loopholes, leading to a more widely shouldered business tax. In addition, his plan would increase the sales tax rate by 7/10 of a percent – to 6.95%, and increase the cigarette tax by $1.
Perry’s plan, which may prove to represent a significant compromise between earlier House and Senate proposals:
With the Texas Supreme Court decision on several key school finance cases on the horizon, the manner in which the Texas legislature addresses the current problems in the system could control the fate of millions of Texas school children.Perry’s plan, which comes on the heels of a three-week legislative break, may provide a good starting point for successful negotiations between House and Senate leaders.
TxPing
Pack up everyone! We movin to Texas!
This is as misguided as the faux conservatives who want to put in an appraisal cap.
As Ronald Reagan said, broaden the tax base and lower the rate.
More Titanic deck chair rearranging.
I'd still have liked to see some spending cuts here though, but any tax cut is usually okay in my book.
Don't pack up yet. We have a large number of "Republican" legislators and a Lt. Governor who spiked the last task relief attempt. Until we get rid of them I don't hold much hope.
Every property owner in Texas already pays property taxes.
And, increasing the exemption effectively lowers the rate.
Just heard a blip on Channel 13 in Houston that Perry said some forbidden word when he thought the microphone was off. Anyone know anything about it?
No. But I'm sure Lon Burnam, D-Fort Worth, will be blaring it far and wide.
Sheesh, what part of the state republican platform don't they get?
Every property owner in Texas already pays property taxes.
And, increasing the exemption effectively lowers the rate.
BROADEN THE BASE
-- Keep the homestead exemption where it is -- ideally, eliminate the homestead exemption.
-- Eliminate the appraisal cap.
Yes, increasing the exemption lowers the average rate. Reagan eliminated high exemptions to cut the rate.
Assume there are two tax systems:
System 1. $50,000 exemption; 50% taxation thereafter.
System 2. No exemption; 25% flat rate.
If you earn $100,000, you pay the same average rate -- 25%. But who has more incentive to earn the 100,001st dollar? The systems are not the same. The same goes for property taxes. Gov. Perry is taking us in the wrong direction.
It's reported he said "Adios, Mofo." (Hope that's not banning material!).
I'm ready! NJ just passed a whole bunch of "new taxes" it's time to get "outta here"!
"Rebate"? "Income tax"? "I guess that'll hold the little bastards."?
Whoa! I sure hope this catches on!
In addition, his plan would increase the sales tax rate by 7/10 of a percent – to 6.95%, and increase the cigarette tax by $1.
And they call this a tax cut??? Not in my book and I don't smoke.
After having fought absurd apprasals the past five years I'm personally ready for a cap, I've spent more time talking to the apprasal board than I have filing income tax forms and I've gotten just about as far (turned down five out of five even with professional apprasals to back up my claim).
They were limited on how much they could raise the rate so they just jacked up the apprasal and, as best as I can tell, they just made it up out of thin air.
Unlimited valuation has been a sure invitation to robbery.
Umm. No, you aren't the only one to notice it. Hasn't this been described as rearranging the deck chairs on the Titanic?
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