MY FAVORITE PAGES

Tuesday, June 16, 2015

AFTER CUTTING TAXES ON THE RICH, KANSAS WILL RAISE TAXES ON THE POOR TO PAY FOR IT

KansasTaxes2

 POSTED ON 
Kansas lawmakers concluded the longest legislative session in state history Friday night by approving a slate of regressive tax hikes that will balance the state’s budget by targeting low-income workers and their families.
More than half of the $384 million in new revenue expected from the tax hike will come from cigarette taxes and sales taxes, two policies described as “regressive” because they fall more heavily on lower-income taxpayers than on the wealthy. Even though everyone who shops will pay the new 6.5 percent sales tax rate – up from 6.15 percent in previous years, and the 8th-highest of any state according to the Tax Foundation – the move is regressive because poorer shoppers already have to stretch each dollar farther than their more flush counterparts.
The state offers a limited tax credit for grocery purchases to low-income families that slightly offsets the unevenness of the sales tax impact. But that credit is capped at $500 and cannot be claimed by families earning over $30,615 a year. A family of four that earns too much to qualify for the credit will pay nearly $700 a year in sales tax payments on their food, according to a Kansas City Star analysis of Friday’s bill that found the bulk of the burden falls on people making less than $50,000 annually.

READ MORE
TP-top-5-banner

unReal2A FEMINIST WAS FORCED TO SPEND 9 SEASONS WORKING ON THE BACHELOR. NOW SHE'S MAKING THIS TV SHOW.SolarFlorida2OPPOSITION IS PILING ON A PROPOSAL TO INCREASE ACCESS TO SOLAR POWER IN FLORIDA
KansasTaxes2AFTER CUTTING TAXES ON THE RICH, KANSAS WILL RAISE TAXES ON THE POOR TO PAY FOR IT
Encyclical2IN LEAKED ENCYCLICAL, POPE FRANCIS DECONSTRUCTS CONSERVATIVE TALKING POINTS ON CLIMATE AND FOSSIL FUELSTrump2WATCH DONALD TRUMP GO FULL NATIVIST IN PRESIDENTIAL CAMPAIGN LAUNCH

The TRUTH will set you FREE.

No comments:

Post a Comment