Tuesday, September 05, 2006

Tax Reform, The Finished Product?

As long as the Special Session occurs, it sounds like we may be trying an interesting and unique (as far as I know) form of taxation in the state of Utah. I have written much on my disdain for the flat tax, and my skeptism that a flat tax would have produced a tax cut for the majority of Utahns. My initial skeptism on the first flat tax proposal turned out to be correct.

Then the Governor suggested the idea of a dual tax system, which I initially was not fond of, however I have changed my opinion as information has turned up. The flat tax which will turn up benefits for the wealthy and the poor will be used, as well as stretched out brackets and a reduced top tax rate for the regular system which is most benefit the middle class is available. This policy seems like beneficial tax policy for Utah taxpayers across the spectrum of Utah incomes.

I appreciate the innovation which the Governor and the Legislature have shown in coming to this new tax proposal. Although I'm not sure this tax system is the best system, I believe this will be a meaningful tax cut for the majority of Utahns. I'm excited to see tax cuts from Utah.

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