The Ragister today earned our fifth Csonka award, giving them one for the thumb with their...
5 reasons to change Iowa's tax system
In their first point they state...
Eliminating the federal income-tax deduction allows the state to lower tax rates. That would, and should, make the change revenue neutral for the state
Lower rates is a worthless term when individuals will see their taxes increase?
As for revenue neutral...
Iowa would collect $20 million less in the current tax year and $35 million less next year, according to estimates from the state's revenue department.
That translates to further budget cuts.
Their next point...
The second goal was to make Iowa's income-tax system more fair for middle- and lower-income taxpayers. The plan put forward by the Democrats would adjust rates upward for those earning high incomes and downward for those at the bottom, with no change for those in the middle. Iowa's income-tax burden already falls more heavily on those with lower incomes
Again, the rates may go down, but individuals (even middle and lower income taxpayers) will see their taxes increase higher than the Dummycrats earlier proposal.
That's not more fair!
How do you trumpet "no change" as being good?
No change is still too high, especially when it comes to taxes and the scientific community is united in that fact.
Lastly, the argument that the burden falling heavier on those with lower incomes can be made for anything lower income people spend their money on.
Do I hear six?
You can count on it.