Saturday, March 03, 2012

After Gutting Health And Education Funding, Idaho Republicans Advanc Bill To Cut Top Tax Rate And Corporate Tax

Here in Georgia, where the unemployment rate has been higher than the national average every month for more than four years, the Republicans are paying for tax breaks for business by cutting the length of time for unemployment benefits.

http://thinkprogress.org/economy/2012/03/02/436525/idaho-tax-cuts/

By Pat Garofalo posted from ThinkProgress Economy on Mar 3, 2012 at 11:45 am

Over the last three years, Idaho, like most states across the country, has had to slash its budget in the wake of the Great Recession. The state has gutted education and health care spending, slicing its higher education budget below 2001 levels, while cutting millions from its mental health funding.

But as the same time that they felt the need to cut funding for these important areas, Idaho Republicans managed to find tens of millions of dollars to cut the state’s top tax rate and corporate tax:

[...]

Already, Idaho’s tax system is regressive, with its poorest residents paying a larger share of their income in taxes than its richest residents. Adding some insult to injury, Idaho’s lawmakers also decided to shoot down a bill that would have cracked on on tax dodging that is aided by internet sales companies like Amazon.

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