Posted on 12/19/2006 3:20:12 PM PST by groanup
On tap for Legislature: Kill some taxes, change others? Proposals range from removing income tax to replacing it with flat tax
By JEREMY REDMON
The Atlanta Journal-Constitution
Published on: 12/19/06
Georgia's tax code is ripe for change (snip)
Among those ideas is a proposal to switch to a flat tax in which people are taxed at the same rate regardless of income level.(snip)
The speaker also discussed eliminating property taxes and replacing them with an increase in sales tax on goods and services, on everything from groceries to cars.
He also talked about eliminating the state income tax altogether and making up the loss in state revenue by wiping out certain sales tax exemptions.(snip)
"I'm convinced that the tax structure that has an income tax, sales tax and property tax is hurting our economy," Richardson said (snip)
"Florida doesn't have an income tax. Tennessee doesn't have an income tax on its citizens," Richardson said. "And it puts us at a little bit of a competitive disadvantage."(snip)
(Excerpt) Read more at ajc.com ...
ping
ping
ping
Something you ate?
Well Duh! Why locate in Georgia if you could locate in Tennessee or Florida and make more money!?
I'm seeing and hearing more and more of this sort of thing. The states themselves may be where the final impetus comes from.
You mean by expanding the sales tax base, the revenues collected can increase without increasing the sales tax rate? Golly.
I wonder just how low the georgia rate could be if only a defined spending level were untaxed via a prebate mechanism?
I would no longer have state income tax deducted from my pay!
I would no longer have to file state income taxes!
And the illegals here would begin paying more! YEAH!
He also talked about eliminating the state income tax altogether and making up the loss in state revenue by wiping out certain sales tax exemptions.
Interesting how that works, expand the tax base and the marginal rates can actually be reduced and still obtain the same, and frequently more, revenues out of the impetus of economic growth that goes with an economically efficient system.
The key lay in reducing the overall deadweight and compliance related burdens inherent in income based systems which require regulatory distinctions between income and return of capital by going to more efficient consumption tax systems designed with low overhead and compliance burdens on businesses as well as individuals.
Could be. I know the folks I went to see prior to the election were all about the "Georgia Fair Tax". That, of course, doesn't mean they'll do anything about it - but it does mean they know it's on our minds.
After they get booted for not following thru, the next folks will be more likely to take some action.
enjoy your "FReepsterbation" -- this thread is as dead as the unfair tax
All of a sudden Redmon's going to realize that increasing sales taxes by eliminating income taxes is going to cause inflation. smirk
Always nice to have an income tax slave vist my thread and declare it dead. Now go back to peddling your (income tax deferred) annuities.
one is only a slave is one chooses to be a slave - you folks however are addicted to 'snake oil'
Which was sold to the populace in 1913. Good description. Or do you think it was a GOOD thing?
He doesn't mind hidden taxes.
He doesn't mind US manufacturing taking a hit.
He doesn't mind withholding.
Just ask him, he'll tell you .... there's nothing inherently wrong with the income tax.
I noticed yours was the only reply to my query.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.