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Thinktank probes what to do about taxes
The Atlanta Journal-Constitution
Former Gov. Roy Barnes had a lot to do with the formation last year of the Center for a Better South, and he’ll be speaking at a press conference at the Atlanta Press Club Friday morning when the Charleston-based thinktank brings forth its first fruit, a book-length analysis of tax policy in the South, with recommendations for each state.
Authored by Sarah Beth Coffey of the Georgia Budget and Policy Institute, which has contracted to do a series of studies for the center, the study urges a no-nonsense approach, such as eliminating sales tax holidays and exemptions on items like groceries and raising cigarette taxes to the national average.
One recommendation for Georgia: broaden the income tax brackets at the lower level and add a new bracket on the high end. Families making $20,000 a year would pay $57 less, while those making $100,000 a year would pay $27 more.
Georgia fares poorly a 11-point checklist of what the states should be doing – but then, all the Southern states do. It does get a positive check for eliminating corporate loopholes and conducting a performance review.
The report has a lot of interesting ideas, but the one we’d use for a conversation starter is, “Rethink tax preferences based on age alone.”
The report points that Southern states have been generous in giving out blanket exemptions for Social Security and private pension incomes, and preferences on property taxes. But in 2030, when the percentage of seniors is predicted to be 15.9 percent, that generosity may get a second look.
To measure how close the current political climate comes to this tough love approach, by the way, see the ad immediately below.
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Comments
By Justin
June 23, 2006 01:15 PM | Link to this
Gee, maybe if we raise taxes enough northerners will stop moving here because everything will be as expensive as it was back home. All these institutes and foundations and groups study the tax code and find ways to justify more taxes and more money for more studies. Two words people: FAIR TAX!
By Barry
June 23, 2006 04:32 PM | Link to this
Any chance of discussing a fair tax for Georgia.