Thursday, September 5, 2013

8 down, 42 to go...

...states that have abolished the state income tax, that is. Actually, the number eight assumes  the GOP-led effort in North Carolina is ultimately successful, as examined in this Washington Post report:
State Sen. Bob Rucho, a Mecklenburg County Republican and chairman of the Senate Finance Committee, said Wednesday that he hoped to use the 2015 legislative session to eliminate the state income tax, replacing it with a consumption-based sales tax to make up for the lost revenue.

"That’s a direction we’d like to go,” Rucho said in an interview as the state Senate adjourned for the year. Rucho said it was impractical to push for such a steep cut during a short session the legislature holds in even-numbered years, but that cutting the income tax was a top priority of his when the legislature reconvenes for its biennial full session.
Reducing income tax is both morally correct and economically beneficial: income tax is theft no matter whose doing it, and lower tax burdens typically result in increased economic activity that is, frequently, accompanied by increased employment.  [ht: DrudgeReport]