Income Tax again
Via Bill Hobbs, comes an article in The Tennessean that states a panel essentially concluded Tennessee needs a state income tax. I don’t oppose an income tax on the surface. What I do oppose is income tax without repealing sales tax. Most states have a history of lowering sales taxes to implement an income tax. Then in a few years sales taxes are raised again. That’s what one of my former accounting instructor’s told his class and I have no reason to doubt him and do not for a minute trust our legislators to not do otherwise.
Until sales tax is repealed and constitutionally held so, I’ll oppose the state income tax.
January 16th, 2004 at 1:42 pm
I am opposed to just about any new taxes. I understand why we need them to support basic infrastructure and some services, but the antics of John Shumaker and last minute raises of Victor Ashe prove a leaner approach is prudent.
Working in the local government myself, I can tell you this…if any of you knew just what your property taxes were really spent on, you would shit your pants before violently burning down the City/County building.
January 16th, 2004 at 3:14 pm
I’m on the fence on this one. In general, I prefer an income tax (being progressive) to a sales tax (being regressive). But there’s pros and cons to both. Sales taxes discourage local spending, and that’s bad. Whereas income taxes, depending on how they’re implemented, discourage businesses (and hence jobs) from locating in your area.
Personally, I like a balance of both. But there’s the $64 billion question: taxes are a necessary evil, so what’s the most equitable way to levy them?
I think what you’d need to do is reduce the sales tax, impose a modest income tax, and set it up so that a 2/3 majority is required to increase either.