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Opinion: Georgia should avoid tax proposal

SEGAZINE

icture this: It’s April 2016. Your income tax return is due. While you still have to pay the federal income tax, there is no longer a state income tax.

Sounds good, right?

Would you trade not having to pay Georgia’s income tax, which has a top rate of 6 percent, for a sales tax as high as 14.5 percent — more than double the current 7 percent sales tax rate in Bulloch County?

It could happen.

But, despite the idea’s growing popularity, the Georgia Budget and Policy Institute, a nonpartisan think tank based in Atlanta, urged caution in a report it issued last week. Such an exchange of taxes could actually hurt Georgia’s economy and lead to a higher tax burden on many businesses and lower- and middle-income individuals and families, the report says.

via Statesboro Herald

.. on August 11, 2013. Filed under HEADLINES. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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