By: John W

John W — Thu, 24 Mar 2011 20:12:16 +0000

I support the tax extensions but would have to agree with Doug’s (#1) comment. One thing rarely mentioned is that, when the .25% income surtax went into effect, it disproportionately increased taxes on those at the lower end of the brackets. If somebody was in the 2% bracket, it was 12.5% increase. If somebody was in the 9.3% bracket, it was a 2.7% increase. Personally, I think that was a good thing. Based on my experience with various income tax structures in other states, our marginal tax rates are two low at the low end and too high at the high end. In Colorado, it was a flat 4.63% of federal taxable income. Steeply progressive marginal tax rates at the state level are counter-productive, because people can shift things around in a way they can’t at the federal level. I’d go for a flat 5-6% on adjusted gross income over $15,000. No deductions, exemptions or credits.

By: Doug

Doug — Thu, 24 Mar 2011 02:16:53 +0000

Opinions based on the ‘amount’ of the economy don’t impress me. It’s the % or the economy. As the spending base has decreased in this depression (yes, that’s what it is), of course the amount tithed to the state has gone down. But I defy you to show me where the % has gone down. No way. With all the new fees and taxes imposed, I don’t even need to see the data to know the % has gone up. Way up. The message is the same. Starve the beast – state or federal.

Comments on: Genest: Tax level ‘lower than it has been for a while’

By: John W

By: Doug