Musings from some guy who know stuff...and thinks he knows other stuff, and has opinions on just about everything, and is more than happy to tell you what he thinks and why...when he has time and the inclination to sit down and write in this thing.
Tuesday, June 23, 2009
Pennsylvania Raising Income Taxes?
PA has a rather regressive income tax scheme (it's flat, but the deductions that can become available tilt to the more well off). So I would like for them to implement a progressive part of the code with any tax increase: right at the top everyone subtracts say $15k from their total income. This will greatly reduce the total taxes paid by those at the bottom of the income bracket, while still leading to higher overall revenues if combined with an appropriate percentage increase, maybe up to 4% instead of 3.57%.
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