Will 2009 Be The Tax-Happiest Session of Modern Times?
One might think that economically difficult times might lead the General Assembly to avoid increasing the tax burden on Kentuckians. Instead, they've used it as an opportunity to spend more and hike taxes.
- They hiked taxes on Alcohol and Tobacco.
They're considering implementing new taxes on IT services like graphic design.
- They've put forward a bill to tax a technology that doesn't even exist in Kentucky yet.
- The Senate is considering legislation to hike the gas tax and put tolls on the roads! Double road taxation in one bill!
And spending:
- They've reduced the rainy-day fund from a $214 million reserve to a $200 million deficit.
- They even passed a bill to increase spending an additional $9 million.
They've talked a big game about cutting spending, but we haven't seen it. All we have are higher taxes and ridiculous debt.
Here's the punchline: Speaker Greg Stumbo doesn't think it's enough!
House Speaker Greg Stumbo, D-Prestonsburg, said he thinks the General Assembly will be back in session this summer to address a budget shortfall for the fiscal year that begins July 1.
Sounds like the whole session has been nothing more than an incredible waste. Instead of pursuing real reforms that will create jobs, like repealing prevailing wage, cutting capital gains rates and reducing spending, they've been busy finding taxes to hike. They've been too concentrated on finding money to spend and not enough on making Kentucky's economy better.
If it were up to the Kentucky Club for Growth, there would be no special session without a commitment to rolling back prevailing wages in Kentucky.
