U.S. states flirt with major tax changes

GURPS

INGSOC
PREMO Member
U.S. states flirt with major tax changes


(Reuters) - Hopes for overhauling the federal tax system are fading in Washington, but in some state capitals, tax reform experiments - some far-reaching - are fast taking shape.

Across the South and Midwest, Republicans have consolidated control of state legislatures and governorships, giving them the power to test long-debated tax ideas.

Louisiana Republican Governor Bobby Jindal, for instance, called on Thursday for ending the state's income tax and corporate taxes, with sales taxes compensating for lost revenue.

A similar plan is being pushed by Republicans in North Carolina. Kansas, which cut its income tax significantly last year, may trim further. Oklahoma, which tried to cut income taxes last year, is expected to try again.
 

MarieB

New Member
I did find the article earlier when I wasn't logged on here. I want to know about their ideas about eliminating corporate income tax and replacing it with licensing fees. Would this not hurt small businesses and startups? They made no mention of tying it to volume or profit much like they do for small businesses and B&O tax Volume doesn't present an accurate picture either
 

MarieB

New Member
interesting move ...... tax on consumption


don't buy pay no tax

It sounds like they would be taxing clothing and food, so no way around that

Do we really want a vat tax? I think it would essentially come to that
 

blazinlow89

Big Poppa
At least then people making money "under the table" will be paying taxes.

I have brought this idea up in several debates with people on Facebook, work and I believe I have mentioned it on the forums.

Get rid of State income tax altogether, raise the sales tax to around 10-12% Also jack up taxes on Tobacco, and Alcohol. The state would raise more money, and people will have more in their paychecks.
 

GURPS

INGSOC
PREMO Member
Do we really want a vat tax?



I always thought a flat tax was a nifty Idea ......

[admittedly I could be confusing taxes]

although someone did point out to me in yrs past, there should be en exemption for business purchasing raw materials or sub components .... the VAT should only be on the end user items .......

not the computer processor to Dell, but on the PC sold to a consumer ....
 

glhs837

Power with Control
Flat tax is just that, a set percentage everyone pays out of income. No exemptions, no deductions, just pay it and move on.

VAT is a value added tax, basically, a tax on every item bought, I think on a consumer level. .
 
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