Tag: Taxes

Friday Facts: September 28, 2012

It’s Friday! Events October 16: Former British Prime Minister Margaret Thatcher turns 87 on October 13. The Foundation marks the birthday of this remarkable leader with a Policy Briefing Luncheon and Book Forum with Thatcher advisor and longtime friend John Blundell, who is author of, “Margaret Thatcher: A Portrait of The Iron Lady.” This event is at the Georgian Club. Registration is $60 and includes a copy of Blundell’s book. Register by Friday, October 12, at http://tinyurl.com/7ldaqnk. Seating is limited; register early! October 9: Georgia’s voter registration deadline is October 9. Stand up and be counted! To find out more, go to http://mvp.sos.state.ga.us/. Quotes of Note “It is the highest impertinence and presumption, therefore, in… View Article

Friday Facts: August 24, 2012

August 24, 2012  It’s Friday!  Quotes of Note  Correction: Two of the Quotes of Note in last week’s Friday Facts were incorrectly attributed to Benjamin Franklin and John Adams. Our apologies; as Abraham Lincoln said, “Don’t believe everything you read on the Internet!”  “I desire so to conduct the affairs of this administration that if at the end… I have lost every other friend on earth, I shall at least have one friend left, and that friend shall be down inside of me.” – Abraham Lincoln  “Posterity – you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it.” – John Adams  “Under this republic the rewards… View Article

Friday Facts: August 17, 2012

August 17, 2012 It’s Friday! Visit the Foundation’s new Web site at www.georgiapolicy.org then e-mail us at info@georgiapolicy.org to tell us what you think of it! Quotes of note “If Congress can do whatever in their discretion can be done by money, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one, subject to particular exceptions.” – James Madison Events August 25: Join me a week from Saturday (August 25) at the E3 Summit in Kennesaw hosted by Americans For Prosperity Georgia. The conference will focus on the “3 E’s” driving Georgia’s future – economic freedom, educational choice and energy freedom. I will be on a panel discussing education reform, but the real stars include… View Article

Banking on Land Banks is Banking on Trouble

By Benita M. Dodd The new Georgia Land Bank Act expands local governments’ abilities to create a land bank, an organization with sweeping authority to acquire and dispose of vacant, abandoned or delinquent properties. But communities that race to embrace this unfortunate move will see it come back to haunt, not help, them. It sounds like a good idea at first: Get rid of the vacant properties and abandoned homes that attract crime and impact surrounding property values. The housing crisis has hit Georgia extraordinarily hard and many property owners find themselves unemployed and unable to meet tax and mortgage obligations. Citing “an overriding public need to confront the problems,” the law empowers local governments to join forces or act… View Article

Friday Facts

      It’s Friday!   Quotes of note – “A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.” – George Bernard Shaw – “Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: “There are three kinds of lies: lies, damned lies and statistics.” – Mark Twain – “A general State education is a mere contrivance for molding people to be exactly like one another; and as the mold in which it casts them is that which pleases the dominant power in the government … in proportion as it is efficient and… View Article
By Kelly McCutchen Tax reform has been a popular topic this year. In South Carolina, Gov. Nikki Haley is championing a plan to lower the state’s 4, 5 and 6 percent individual income tax rates to 3.75 percent. In Oklahoma, Gov. Mary Fallin called for a “gradual elimination of the income tax” in her State of the State address. Oklahoma legislators have presented a plan “to eliminate most personal tax credits, exemptions, deductions, and exclusions—and to drop the top income-tax rate from 5.25 percent to 2.25 percent, then steadily drive the levy down for a decade, leading to its elimination.” Kansas, Idaho, Maine, Nebraska, New Jersey and Ohio are also debating significant income tax reforms. Here in Georgia, in… View Article

Tax Foundation releases latest state/local tax burden rankings

Georgia’s state and local tax burden ranks 32nd highest, according to the Tax Foundation’s latest report. North Carolina ranked 16th highest, Florida was just above Georgia at 31 and the remaining southern states ranked lower than Georgia. For nearly two decades the Tax Foundation has published an estimate of the combined state-local tax burden shouldered by the residents of each of the 50 states. For each state, we calcu­late the total amount paid by the residents in taxes, then divide those taxes by the state's total income to compute a "tax burden." We make this calculation not only for the most recent year but also for earlier years because tax and income data are revised periodically by govern­ment agencies.… View Article

New Study Shows Income Tax Rate Could Go to 4% or Lower Immediately

Georgia could have a flat income tax with a rate of 4 percent — or lower — immediately, according to a new study by Georgia State University. The Tax Reform Council's final report was missing several numbers, causing conservative and liberal groups to react negatively to the proposal. Conservatives argued that phasing in the tax rate reductions over three years and possibly starting as high as 5 percent, was a massive tax increase. Liberals argued that the tax reduction was not enough to offset sales tax increases on low- and middle-income families and senior citizens. Now the missing numbers have been filled in. Although the numbers are still not disaggregated, these new estimates include a $2,000 exemption for dependents… View Article

State Spending Limit Proposed

One of the biggest challenges of Georgia's proposed tax reform is avoiding 1) a tax increase or 2) a shortfall in taxes when your rainy day fund is almost empty. Taxpayers are rightly skeptical that elected officials will reduce taxes if revenues come in higher than expected. Of course, one of the reasons we are in this mess is we spent too much money during the good times. Looking at total funds, spending increased by $4 billion from 2006 to 2008. From 2009 to 2011, spending still increased $650 million. The solution? A reasonable spending limit that would limit the high spending during good times and prevent dramatic cuts during recessions. This would also provide taxpayers a sense of security… View Article

To have an organization dedicated to the study of the problems that face Georgia in a bipartisan way….is absolutely one of the finest things that’s happened to our state.

The late W. H. Flowers, Jr., Chairman, Flowers industries, Inc. more quotes