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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKentucky legislators send tax cuts for wealthy, tax hikes for the other 95 percent to governors des
The Kentucky legislature passed a sweeping tax overhaul this week, and now lawmakers are asking Gov. Matt Bevin to sign a bill that would slash taxes for some corporations and wealthy individuals while raising them on 95 percent of state residents, according to a new analysis.
The proposal arrives on the Republican governor's desk at a charged moment in Kentucky politics: The bill flew through the legislature on short notice, and thousands of teachers went to the State Capitol building earlier this week to protest cuts to their pension system.
Bevin's position on the tax overhaul, Kentucky's biggest in more than a decade, remains unknown. He said in a statement that the bill and the state budget, which was also passed by the legislature and is awaiting his signature, may not be fiscally responsible. Bevin has until April 13 to sign or veto the bill or send it back to the legislature with modifications.
https://www.washingtonpost.com/news/wonk/wp/2018/04/05/kentucky-lawmakers-pass-tax-cuts-for-wealthy-tax-hikes-for-other-95-percent/?utm_term=.738937731751
The plan would flatten Kentucky's corporate and personal income-tax rates, setting both at 5 percent. Currently, Kentucky's corporate tax rate runs between 4 and 6 percent, while its income-tax rate ranges from 2 to 6 percent. The new flat rate of 5 percent for everyone means that small companies and Kentuckians with below-average incomes will face tax hikes, and higher earners will get tax cuts
msongs
(67,193 posts)Matthew28
(1,796 posts)Kentucky will become a third world shit hole ruled over by the elites.
You the avg women or man?
-No education
-No investment in infrastructure
-No safetynet
No nothing
Get ready to live in your own waste until you wake up.
pbmus
(12,418 posts)True Blue American
(17,972 posts)Of the state already is. Then there are the wealthy areas.
Norbert
(6,030 posts)Screw teachers - check
Christian extremist friendly - check
Trickle-down on steroids - pending a certain check
Yeah, let's turn Kentucky into Kansas. What could possibly go wrong?
True Blue American
(17,972 posts)Last edited Fri Apr 6, 2018, 04:48 PM - Edit history (1)
Destroy the best Health care in in the country, punish Teachers and the poor!
What is it going to take to wake these voters up?
FiveGoodMen
(20,018 posts)They need to stop listening to the representatives of Hell (otherwise known as Southern Baptist preachers).
As long as they rely on these con men to get them into heaven, they won't oppose them at all.