A modest tax proposal.
May 27, 2012 7:19 PM Subscribe
Kansas passes Tax Act meaning that business owners are not taxed at all on income derived from business profits. "Who will still be paying Kansas income tax? Only three groups: 1) employees, 2) some retirees and 3) individuals whose investments are so modest that they cannot afford to create a trust or partnership to shelter their investment income." The $3.7bn pa cost of the tax cuts is said to create the risk of a $2.5bn pa deficit by 2018.
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