Do You Want a Tax Cut?
Utah ends the fiscal year with a surplus of $180 million. (FYI, a good chunk of this money automatically goes into the general rainy day fund and the school rainy day fund.)
It is time for a tax cut.
I've written much about the fiscal decisions the House has been driving -- paying down debt and paying for roads as we go instead of with bonds. The point of this fight has been to better balance the books and put ourselves in position for a tax cut. Well, we're there. No structural imbalances, a chunky surplus, and (knock on wood) a sound economy.
Yes, I've read the many editorials saying we shouldn't cut taxes when there is so much need. Nonsense. Our tax rate is much too high. This hurts us when individuals and businesses consider relocating/expanding here. Our fat tax rate thwarts productivity and actually makes it harder for us to meet certain needs (e.g., public education and medicaid). By making the right cuts (personal income tax, in my opinion), we can ease the burden on our citizens and actually grow the revenue pie bigger by spurring more economic activity. Result of less government burden: better jobs, better wages, more revenue for government. Not magic; just simple economics.
In other words, you do better with your money than government does.
My suggestion: don't let us get away with not cutting your taxes this year. Have you called to let us know that you want to keep your money? You might want to, because we're receiving lots of calls from people telling us how they plan to spend your money.
It is time for a tax cut.
I've written much about the fiscal decisions the House has been driving -- paying down debt and paying for roads as we go instead of with bonds. The point of this fight has been to better balance the books and put ourselves in position for a tax cut. Well, we're there. No structural imbalances, a chunky surplus, and (knock on wood) a sound economy.
Yes, I've read the many editorials saying we shouldn't cut taxes when there is so much need. Nonsense. Our tax rate is much too high. This hurts us when individuals and businesses consider relocating/expanding here. Our fat tax rate thwarts productivity and actually makes it harder for us to meet certain needs (e.g., public education and medicaid). By making the right cuts (personal income tax, in my opinion), we can ease the burden on our citizens and actually grow the revenue pie bigger by spurring more economic activity. Result of less government burden: better jobs, better wages, more revenue for government. Not magic; just simple economics.
In other words, you do better with your money than government does.
My suggestion: don't let us get away with not cutting your taxes this year. Have you called to let us know that you want to keep your money? You might want to, because we're receiving lots of calls from people telling us how they plan to spend your money.
posted by steve u. at 8/01/2005
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9 Comments:
There will always be more "need" for increased government spending. We should, however, limit what government gets involved in and keep money in the private sector. In the face of a budget surplus, refunding the money is the way to do it.
Well said, Steve. With so many hard-working taxpayers out there that DONT have a surplus, it only makes sense to return to them what they worked so hard to obtain.
The income tax is a fraud........
http://www.givemeliberty.org
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Now that we have some extra dough on hand, why don't we create some legislation that funnels it DIRECTLY into education? Our schools are hurting and our teachers are desperately underpaid. Before we shut off the valve, let's make sure that whatever we have is drained properly.
I certainly wouldn't object to a tax cut. I definately would like to keep more of my money. In the past, I've sent emails to my state rep and state senator. Is a phone call more effective?
A politician running for office calling for a tax cut -- wow! Imagine that.
When was the last time Senator Hatch called for a tax cut?
Second Anonymous,
Check out the posts I did during the session on local control of education. I think you'll like them. Through one of my bills, we did redirect a lot of the education money, so that it bypasses the legislature and school board and is spent directly by parents at the school through community councils.
Slam,
E-mails, letters, phone calls. Use them all. Utah legislators don't have staff to help with communications (other than college interns during the session). So, some messages can get lost or missed. Most of my colleagues take their responsibility to interact w/ constituents very seriously. If you still don't get a response, send me an e-mail, and I'll hand deliver it for you.
Third Anonymous,
Ya, that's the bummer of this. Everything I now say will have folks like you saying it's purely political. That's just how it goes. All I can ask people to do is check the record and see if any position looks newly molded. I'm not sure me advocating a tax cut is much of a shocker to anyone.
Steve,
What is your position on FairTax?
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