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The Libby’s wont go for it.
Under the current state income tax rate, you pay $32.30 on every $1,000.00 of income. Under the tax cut plan backed by Rep. Todd Houston, by 2026 the tax would be $30.00 on a $1,000.00 – saving you a whopping $2.30 for every $1,000 of income. If the GOP was serious, why not get rid of the state income tax altogether so we can compete with states like Florida, Tennessee, and Texas?
Is this legislature incapable of coming up with anything but tax cuts?
All I can say is there is no need whatsoever for the State to be hoarding 5 billion dollars. They always talk about having a rainy day fund. I get that……good idea to have such a fund. But justify for me all you taxing legislators, “why do you all think we need 5 billion dollars of what you apparently report as “surplus money”? Supposedly, in round numbers, our state says there are 7 million persons living in Indiana. Let’s also say for the sake of my example here that 5 million are working full time (40 + hours/week). $5,100,000,000 /5,000,000 = in round numbers, $1,000 refund across the board for all those working Indiana residents. I know, all will say we can’t possibly refund the entire 5.1 billion and that my arithmetic is flawed. OK so be it. You taxing lawmaker people out there, just simply send me my refund of $800.00. That will give you taxing people a still, very ample 1 billion dollars to place it wherever you ultimately arm wrestle over whether the taxpayers get, or don’t get there fair share of the surplus money back in our wallets.
I’ve heard about this “rainy day fund” for many, many years now. What could possibly constitute a need for using this fund any worse that the complete shut-down of our economy in March of 2020?! I believe we needed to tap some of those funds during those times. I think we managed just fine with what we had…send the surplus back to the taxpayers!!
God forbid we should invest in the future or anything.
Our legislators don’t think there is a future. Then again, most come from parts of Indiana that are losing population, so you have to understand their perspective.
They look at our poorly rated schools and say, that’s fine. Those kids who will pay for their social security benefits don’t have to be smart to work in a distribution center or at Dollar General, and those teachers are overpaid anyway. How hard could teaching be?
They look at our crumbling roads and go, that’s fine. We can always keep raiding Indianapolis for road money. Those people in Indianapolis aren’t real Hoosiers, despite the fact that Indianapolis is the economic engine of the state of Indiana.
They look at our best and brightest moving to Indianapolis, or leaving entirely, and companies with good paying jobs passing over Indiana to locate elsewhere, and say that’s fine. We didn’t want their kind anyway, with their fancy high-paying jobs and potentially liberal workers.
Besides, it’s not like anyone is paying attention that the federal government is the source of the influx of dollars that put them in this situation. But they will quickly tell you that you should vote for them, because all of Indiana’s problems are the fault of the big government liberals in Washington DC, and besides, we gave you a tax cut! Enjoy your extra $15 a month.
The last president gave businesses enough tax breaks to last a lifetime.How does the republicans think the small towns and county’s can fund their budgets without these taxes?I will tell you how,tax you and me locally! Pathetic!!!