Tax Reform Panel Releases Recommendations (Georgia)

[newsjunky]

Well here they are. What do you guys think of them? I guess we should start a poll. I know they have one on Peach Pundit if anyone is interested.

http://www.bizjournals.com/atlanta/news/2011/01/07/tax-reform-panel-tax-groceries-lower.html

Peach Pundit link. http://www.peachpundit.com/2011/01/07/tax-reform-proposal-released/
They have a good breakdown of the proposals.

 

[Foxmeister]

Why not just eliminate state income tax and corporate income tax altogether and raise the state sales tax another two cents; to include taxing groceries? I wonder if that would raise more money>

 

[lotstodo]

The switch from income taxes to sales taxes would align us more with other states. Actually our personal income taxes at 6% are about middle of the road and our business taxes are quite good compared to other SE states, but our property taxes are quite high. I would be all for dropping the Personal income tax all together.

http://www.taxfoundation.org/files/bp60.pdf Table 2 gives a good breakdown of states by type of tax.

 

[Blazing Saddles]

Why not just eliminate state income tax and corporate income tax altogether and raise the state income tax another two cents; to include taxing groceries? I wonder if that would raise more money>

I'm sure you mean the state 'sales' tax.

 

[Foxmeister]

That's what I meant.