Report: Brownback's Tax Plan Will Cause 2018 Shortfall
Associated Press - Thu 06:34 PM 01/31/2013
Brownback wants to follow up on aggressive individual income tax cuts enacted last year with a fresh round of rate cuts over three years.
Researchers for the Kansas Legislature are projecting that Gov. Sam Brownback's plan for more income tax cuts would create a $782 million budget shortfall in July 2018.
But proponents of additional cuts are questioning whether the report Thursday from the nonpartisan Kansas Legislative Research Department is too pessimistic.
Brownback wants to follow up on aggressive individual income tax cuts enacted last year with a fresh round of rate cuts over three years. He's proposing to stabilize the budget by eliminating two popular income tax deductions for homeowners and raising additional sales tax revenues.
Critics were quick to see the numbers as evidence that Brownback's plan is reckless.
But Revenue Secretary Nick Jordan said the researchers don't account for how further cuts will stimulate economic activity.
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DamiStac
Thursday 31 January 2013 20:04 Report this comment
So, he wants to change the way taxes are paid from, everyone paying a semi-equal percent, to you paying tax on only what you spend? So, someone like my mother who spends almost everything she makes to take care of herself and my grandmother will pay more taxes because they're stimulating the economy, meanwhile someone who saves their money in a bank and does nothing to help the economy grow will pay less taxes? SOUNDS PERFECT!
Aurora.
Thursday 31 January 2013 22:09 Report this comment
time to impeach him
grnthums
Friday 1 February 2013 04:18 Report this comment
The RRRRRRR's have it!