Tuesday, March 16, 2010

Kentucky likes to spend, spend, spend!

  Overspending, high tax rates:
Two sides of the same budget coin
 "Tax reform" must be accompanied by
         "spending reform." 
             Government spending is higher in Kentucky than 
                 most neighboring states.
             The "billion dollar shortfall" is not really a shortfall
                 of funding for necessary government services. Rather,
                 it's a gap between available revenues and what
                 politicians want to spend.

 Kentucky is a high-tax state.

             Kentucky's tax burden is higher than most neighboring states.

             Tax wise, Kentucky is one of the least-attractive states to business owners
                 and income earners.

             Kentucky's tax burden is inordinately related to income taxes.

 Final shot:
             "True tax reform is not a quick tax hike to satisfy the spending ambitions of legislators up
                 for reelection. Real tax reform would address the biggest problem with Kentucky's tax
                 code: that it is uncompetitive."
– Andy Hightower, Kentucky Club for Growth

(Sources: "Kentucky's Tax Burden," Kentucky Club for Growth executive director Andy Hightower; "Budget in Brief 2011-2012 ed.," Office of the State Budget Director; Fox, William. "Where We Were and Where We Are." A Symposium on "An Economic Perspective on Kentucky's Tax Structure". State Capitol Annex, Frankfort, KY. University of Kentucky Martin School of Public Policy and Administration, 13 Jan. 2010. Wed. 10 Feb. 2010.
Edited by Jim Waters

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