Oppose state income tax
Many of us have seen the TV ads where kindly old Bill Gates, Sr. extols the benefits of Initiative 1098, the proposed 5 percent to 9 percent state income tax while getting dumped in the dunk tank. He does not need to go to that extreme to show us that he's all wet on this issue, plus being just downright deceptive.
He states that passing I-1098 will reduce our state property tax by 20 percent, and this sounds impressive at first glance. However in my case the state portion of my total real estate property tax is 18.8 percent, and 20 percent of that results in only a 3.76 percent reduction in my total tax bill.
Bill Gates, Sr. also tells us that only 1.2 percent of the taxpayers in this state will be subject to this income tax. However, he neglects to tell us that in just two years the Legislature can, with only a simple majority vote, change both the income tax rates as well as the threshold income to which it will apply.
Does anybody seriously think that our wonderful legislators will long resist the temptation to start raising the tax rate and lowering the threshold?