Thursday, October 06, 2005

Flat-Tax

The Guv's tax plan looks to be blissfully simple and a tad less regressive than Lege-led flat-tax proposals. I'm actually agreeing with Curt Bramble on something - holy cats - and thinking that the overall proposal looks digestable. Some tweaks I'd make are as follows:
  • Kill the sales tax on food altogether or eliminate it on basics like produce, meats, grains, and other health-sustaining items.
  • The current proposal limits dependent deductions to five kids. It's gotta be scaled back to three to make any fiscal sense.
  • The proposed tax rate tops out at at 7% for households that make more than $70k. There really should be another bracket for $150K+.

An unrelated tax topic that I've gotta get off my chest: a real-estate transfer tax (RETT). Most states in the West have it. It basically is a nominal tax that accompanies real estate transactions. It should go exclusively to fund education. Why? Because, arguably, real-estate transfers are a relatively accurate indicator of a growing school-age population. This way, when you have exurbs on steroids like Saratoga Springs or Stansbury Park, we can get a head start on funding education for the kiddies who will be occupying the majority of these real-estate starter homes. Also, a RETT is not an undue burden because it only taxes those who can afford to purchase real estate and even then, it is a relatively nominal amount of money and is based on a percentage of the total value of the real estate being purchased.

My plan to get a RETT effort going is to somehow convince Rocky Anderson to vocalize opposition to it. See, the strategy is take advantage of the knee-jerkiness of the Lege and get it a bill introduced without out any legislator actually thinking about it. I bet I could even get Chris Buttars or LaVar Christensen to sponsor it as morality legislation. The "Rocky = Satan Foamed Mouth Reaction Tax Bill."

4 Comments:

Blogger pramahaphil said...

This comment has been removed by a blog administrator.

1:42 PM  
Blogger pramahaphil said...

I actually agree with you here. Although, I must plead ignorance on the RETT, could you explain it more for me. Your probably right on about getting Rocky to oppose it, with the love this state has for Rocky that would be the best way to get it passed the legislature.

1:43 PM  
Blogger Shawn said...

Basically, the RETT is a tax on real estate that is levied on the buyer. So, say the RETT is 0.25% of the total valuation of a property. If you purchase a $200,000 home, then you would pay a RETT of $500.

10:24 AM  
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6:42 PM  

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