Sunday, March 27, 2011

Georgia Tax Reform Benefits Rich Hurts low income.

Tax bill resuscitated |

"Ries said the plan really benefits white-collar entrepreneurs who file their business taxes using the individual income tax schedule. The tax council wanted to devise a scheme to attract those kinds of businesses, and the jobs they create, to the state by offering a more forgiving tax structure.

It does mean that lower-income taxpayers who itemize their deductions now could see their taxes increase, so lawmakers are trying to find a way to fix that, she said. Ries said that likely will mean saving some common deductions, but placing a cap on them to favor those hurt most by the new measures."

Imagine my shock.
Full disclosure, this is a very good bill for me. Doesn't mean that I think it is a good idea

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