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One thing that we find interesting is that when it suits them, some people find gross receipts taxes to be a regressive thing.
But then, when they want more money for the government to spend, they say, “Let’s increase the gross receipts tax.”
Such was the case this week as the House approved a bill that would raise money to fund education.
Earlier, they had passed an education reform bill that called for some $400 million in new expenditures. This measure was their answer to that.
And that answer is to increase the gross receipts tax by three-quarters of a cent. When you consider that generally such hikes are in one-eighth of a percent increments, this is no small jump.
And in these very hard economic times, is this the time to hurt families and businesses struggling to make it? Who believes that this bill will not hurt businesses?
Well, a majority of our representatives believe that it won’t hurt anyone.
We find ourselves agreeing with Rep. Jeannette Wallace who said this bill will cost the state jobs.
In case you did not know, most businesses are in existance only if their income surpasses their cost. Most businesses pay these taxes and this is not a small increase.
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