Thursday, February 14, 2008

Tax reform at the Capitol: The quick, dirty, and kinda sexy version

I tell you what, this may be the best summary of all the tax plans kicking around the Capitol that I've seen this year. And I know that because it wasn't so long and complicated that it made my face hurt, but it doesn't seem to be over-simplified either.

If Shannon McCaffrey wasn't already married, I might ask her to be my Valentine:
The new plan would slash $422 million worth of taxes over three years. It would make up some of that lost revenue by taxing groceries and lottery tickets. Some consumer services, such as haircuts and yard work, would also be taxed up to a cap of $10,000 a year. ...

The new bill is the latest - and most ambitious - entry into an election-year legislative session that's already become crowded with property tax relief measures. The Senate this week passed three bills - two aimed at capping the growth in home assessments and the third, Gov. Sonny Perdue's proposal to eliminate the state portion of property taxes. ...

Richardson's plan would deliver relief to taxpayers in the form of credits equal to the amount of ad valorem taxes they would pay on their car or home.

The speaker would remove the ad valorem taxes on cars but would slap on a $20 state motor vehicle registration fee in its place. That would include a $10 fee that would be earmarked for trauma care.

UPDATE: What does it say that the ability to simply explain tax reform is among my criteria for Valentine selection? Hard to believe I'm still single.

UPDATE 2: Here's the make-your-face-hurt version. And I mean the list of 174 services that would be taxed, not their post.

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