Well-known conservative radio host Leland Conway interviewed Governor Steve Beshear this morning.
Conway asked the governor if he would consider legislation to eliminate Kentucky’s income tax and he said he would be open to it.
Check it. Clicky clicky.
Note: You may have to refresh 800 times to get the audio to play but it will eventually work.
Thoughts?
1 response so far ↓
1 The Real // Jul 15, 2008 at 9:06 pm
Keep in mind this observation is coming from a left-of-center D. . .Down here in TN, I have seen the effect of a state revenue stream not dependent on income taxes. I appreciate that a higher sales tax is a regressive system of assessing taxes (those with lower incomes shoulder a greater tax burden, because they spend most of their incomes for living necessities while much of the wealthy’s incomes are saved and, therefore, not taxed). However, the corporate executives who make the decisions where to locate jobs love such a system for their economic self-interests because of its regressive nature. Just today, VW announced it will be investing $1 billion dollars in a new automobile plant in Chattanooga bringing 2,000 new jobs to this state. You can bet KY will not EVER land another project like this until it rescinds its obsolete Right-to-Work laws. Both political parties in KY are equally guilty. (I have never understood the stranglehold unions have on rural GOP members of the Commonwealth’s legislature.) KY’s recent pension reform will help, but it came very late and is far too timid. So while TN’s economy is booming, KY’s will continue to lose ground until 1) KY institutes a modern tax code, 2) KY eliminates its Right-to-Work laws, and 3) KY’s state employees are forced to contribute (with a healthy upfront match) to a 403(b) retirement system and the state begins to lessen its massive pension benefits obligations.
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