We retired Tax Justice Blog in April 2017. For new content on issues related to tax justice, go to www.justtaxesblog.org
June 12, 2012 9:00 AM
- North Dakotans go to the ballot box today to decide the fate of their state’s property tax. If it passes, it won’t be good news. Stay tuned.
- It looks like New Jersey Governor Chris Christie has agreed to abandon his tax cut plan (which cut income taxes and favored the wealthy) in support of a Senate alternative (which limits property tax credits to homeowners and renters with incomes under $250,000). Still, some Senators are saying any tax cut at this time is “insanity” and will attempt to stop the compromise.
- Voodoo economics is alive and well in Tennessee. Gov. Haslam continues to insist that the state’s recent phase out of the inheritance tax is actually going to increase tax revenue for the state, citing research from Arthur Laffer – that has been thoroughly debunked by the Institute on Taxation and Economic Policy (ITEP) and seriously questioned by other researchers.
- ITEP responds to an unusually biased opinion piece and sets the record straight about the Illinois and California tax systems . See ITEP’s letter in the Chicago Tribune.
- Cutting taxes has consequences. When Ohio’s estate tax expires, local governments will be forced to make up the $6.1 million annual difference. One local government official said, “Losing the estate tax is basically a police car” for his town.