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Willisms

« Trivia Tidbit of the Day: Part 696 -- Top Performing Cities In America. | WILLisms.com | Trivia Tidbit of the Day: Part 698 -- Michigan Failure Of Left-Wing Ideas. »

Trivia Tidbit of the Day: Part 697 -- Just Say No To An Income Tax.

Oregon Proof That An Income Tax Not Stable-

Texas is one of a handful of states without an income tax. Every several years or so, whenever things get a little rough (fiscally speaking), there are inevitable calls for an income tax to "smooth things out" and "provide a more consistent source of revenue" to bolster Texas' ability to pay for more government, and so forth.

In Oregon, they rely more heavily on an income tax, and they have an extremely high rate of volatility:

oregontaxvolatility.gif

Oregon has an extremely volatile tax structure—a major factor in its current fiscal crisis. With no statewide sales tax and a strict, voter-imposed cap on local property taxes, the Beaver State leans heavily on corporate and personal income tax revenues instead. But those revenues are closely tied to shifts in the economy. When Oregon’s coffers took a 19 percent hit from 2008 levels earlier this year, lawmakers raised corporate and personal income tax rates. Oregon’s top personal income tax rate, 11 percent, now is tied with Hawaii for highest in the nation.

We don't need an income tax in Texas.

-------------------------------------

Previous Trivia Tidbit: Top Performing Cities In America.

Posted by Will Franklin · 13 November 2009 09:21 AM

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