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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsNebraska Governor proposes making his State's regressive tax code even worse for the poor
http://thinkprogress.org/economy/2012/01/28/413786/nebraska-gov-regressive-tax-worse/The state of Nebraska already has a regressive tax code that asks lower-income families to pay more than the states wealthiest residents. According to the Institute of Taxation and Economic Policy, the poorest 20 percent of Nebraskans pay an average of 11.1 percent of their annual income in state and local taxes, while the richest 1 percent pay just 6.1 percent of theirs, thanks to the states heavy reliance on regressive property taxes.
Gov. Dave Heinemen (R), however, seems to believe that the poor arent doing their part in his state. Despite saying his highest priority was tax relief for Nebraskas hard-working, middle class taxpayer, Heinemen used his State of the State speech to unveil a tax proposal that would do next to nothing to help Nebraskas poorest residents while providing sizable tax breaks to the rich, Citizens for Tax Justice found:
In his recent State of the State speech, Nebraska Governor Dave Heineman unveiled his three-pronged tax reduction proposal: income tax rate reductions and broadening of income tax brackets, a reduction in the corporate income tax rate, and complete elimination of the inheritance tax. [...]
Nebraskas tax structure is already regressive and asks more of lower income families than better off families The Governors proposal does nothing to reduce property taxes, does little to assist the lowest income Nebraskans, and would actually make this disparity worse.
geckosfeet
(9,644 posts)I am disgusted at the tax codes across this country. The poor get the shaft and the rich take buy off politicians for a never ending stream of benefits and tax breaks.
States tax codes are diverse - but for the US tax code, IMO the poor should pay zero income taxes - they already pay sales taxes, local and property taxes. What are they supposed to live on?
The "middle class" pays a moderate rate based on a sliding scale similar to current US tax code.
The "upper class" or rich, income (including investment income) also pays on a sliding scale, STARTING at a 30% rate. Cap the rate at 60% for incomes of any amount.
izquierdista
(11,689 posts)Everyone sends half of their income to Warren Buffett and if they need any sort of government service, they wait for an audience with him. It's not really a new idea, I believe this was how Henry VIII operated.