There is nothing I hate worse than being lied too. I vote republican because their campaign promises are as close to my “political” beliefs that I can find. Well no more. Here is my declaration. You want my vote
1. Cut my Taxes
2. Cut your spending
Get it? Got it? We shall see
Here is what our RINO gubnor and “2nd”Lt gubnor are doing to the people of Texas and more egregiously to the Republican voters that put them in office.
No other state has a Margins Tax
House Bill 3, being pushed by Governor Perry and Lt. Governor Dewhurst, is a Margins Tax. Texas would be the only state in the nation with a Margins Tax on businesses. There is a reason for that. The Margin Tax is onerous because it is inherently inequitable. It does not treat businesses fairly or equally. There are innumerable types of businesses with different types of expenses affecting what constitutes their gross margin. The Margin Tax would apply to all businesses, whether or not they make a profit. The Federal Government does even tax a business if it loses money. Why should Texas?
HB 3 is an end run around the Texas Constitution
It is obvious to all unbiased observers that House Bill 3, the Perry/Dewhurst Business Tax, is a deceptive and dishonest end run around the State Constitution”s prohibition against a state income tax. This has been intentionally done by the Governor to prevent Texans from exercising their constitutional right to vote on this new tax. No matter what you say, the margins tax would be a tax on business income. It cannot be otherwise. The margins tax would be paid from a business” gross income. The old adage still holds true, “Honesty is the best policy.” This business tax would adversely affect all Texans because it is a hidden tax which would inevitably raise the cost of goods and services to the consumers. Texans should be given the right to vote in a statewide election as to whether or not they want this tax. This would the honest thing for you to do.
Huge business tax increase
The Perry/Dewhurst Business Tax would be the largest tax increase in the history of Texas. The property tax reduction proposal, which only applies to school property taxes, is so minimal that most businesses would invariably pay hefty new taxes. Even those businesses that pay Franchise taxes would have their taxes raised 400%. This is not a reduction in the tax rate for corporations as claimed by the Governor. A 1% tax on margins is significantly more than the 4 1/2% tax on income. In order for any business to benefit, it would have to have enormous property holdings and low gross receipts. This is not the case for any but a few large corporations. So HB 3 would benefit the huge corporations while decimating the small businesses that fuel the economic engine of our Texas economy.
Minimal Property Tax Reduction
Paul Bettencourt, a Republican and the Harris County Tax-Assessor Collector, has stated that the average home owner in Harris County would receive only a $15 savings in property tax in the first year when the 7% increase in appraised property value is taken into account. This is so minimal that no homeowner would ever notice the difference. But the small businesses would be crushed by the Perry Business Tax.
. Squawkbox Noise Technorati Tags: News, Texas, Taxes, School Finance, Rick Perry, David Dewhurst, RINO, Republicans
