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View Diary: Gov. Deval Patrick's bold plan to raise revenue and invest in Massachusetts' future (96 comments)

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  •  Looks an awful lot like the NC GOP Plan (0+ / 0-)
    RALEIGH Republican lawmakers outlined a proposal Wednesday to revamp the state’s tax system, offering a slew of reforms that would radically shift the tax burden in North Carolina.

    The proposal would eliminate personal and corporate income taxes in exchange for higher state sales taxes levied against groceries, medical expenses and other currently tax-free services.

    Personal and corporate income taxes make up 60% of the state $20 billion in annual revenue. In their place, we get:
    • Eliminating all 318 existing tax breaks in the state’s tax code, which account for $9 billion in revenue. The breaks cover everything from motor vehicle taxes to prescription drugs and insulin to sales taxes paid by nonprofits.

    • Generating $12.9 billion in new revenue by increasing the 6.75 percent combined sales tax rate levied in most of the state to an 8.05 percent combined state and local tax rate.

    The higher rate would apply to all goods and services – including those currently exempt from taxes, such as lottery tickets, haircuts, dentist visits, housekeeping and lawyers’ fees.

    One major increase would be the sales tax on groceries. It currently sits at 2 percent but would increase to 8 percent.

    http://www.charlotteobserver.com/...

    Bottom line - replace income taxes with sales taxes on everything, including food, prescription drugs, dental visits, etc. It's the Republican way.

    Filibuster reform now. No more Gentleman's agreements.

    by bear83 on Thu Jan 17, 2013 at 08:55:58 PM PST

    [ Parent ]

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