Thursday, April 2, 2015

Il Duce signs off on income tax gift to the rich

Here's a report from Jim Nintzel in Tucson Weekly/The Range (h/t Steve Farley via Facebook).

Gov. Doug Ducey signed a bill earlier this week that will give Arizona's wealthiest citizens another tax break.

The new law sets Arizona's income-tax rates onto a permanent downward ratchet.

HB 2001 indexes the income-tax rates to inflation, meaning each year, the income-tax brackets will expand a little so that people will owe less in income taxes.

Ducey said in a prepared statement that he was "proud to sign this common-sense but significant legislation to protect our taxpayers by eliminating a hidden tax increase on Arizonans. This is one more crucial measure to keep our tax rates reasonable and predictable while further promoting our open-for-business agenda."

Scriber Translation: "I don't care what happened to Kansas when they tried the same thing. We're Arizona and proud to do things our own way even if they are proven not to work elsewhere. Besides, this is not Kansas, Toto. Who's Toto?"

What Ducey didn't mention is that the big benefit will go to the state's top earners because they pay the bulk of the Arizona's income tax, says state Sen. Steve Farley.

Remember Il Duce's two incompatible claims? (#1)"I'm running to be governor of all the people," Ducey said. "I believe the most fair thing that you can do is provide opportunity for all, good jobs and a chance to get ahead. ... (#2) No income tax or less income tax is a better direction."

The only way that claim #1 can be reconciled with claim #2 is if "all the people" are only rich folks who supported Il Duce.

So, let's rewrite Il Duce's statement: "I'm running to be governor of the rich." "I believe the most fair thing that you can do is to provide opportunity for the rich to acquire more wealth, obtain jobs as well paid CEOs, and then have their chance to pay less tax ... No income tax or less income tax is a better direction for the rich."

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