Tax Thought of the Day: If more people are working, and - TopicsExpress



          

Tax Thought of the Day: If more people are working, and therefore have an income, then revenues from the income tax should be up, not down. But as economist and Purdue Professor Larry DeBoer points out in his column today, “there was no recession in fiscal 2014, but revenues dropped anyway. …The big revenue decreases were in the individual income tax, the inheritance tax and the riverboat wagering tax. The income tax drop was not due to lower tax rates.” If the unemployment rate really has gone down, and if the Governor has brought new jobs to Indiana – then why has there been a drop in revenue from the individual income tax? Could it be because the new jobs don’t pay well enough? #ThingsDontAddUp #RaiseTheWage
Posted on: Tue, 29 Jul 2014 14:11:43 +0000

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