By Morgan Smith
During the next few weeks, Georgia’s legislators will be looking for creative solutions to the state’s budget crisis. One possibility being considered is a tax amnesty, which is a tool many states have turned to in recent years. While the prospect of easy money can sound attractive, a closer look suggests that tax amnesties are not usually the right answer and should not be an option for Georgia.
The first problem is that tax amnesties typically bring in much less incremental revenue than is reported. States like to announce how much revenue comes in the door during the amnesty period, but usually fail to account for the fact that most of these taxes would have been collected…