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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsKansas tax act most regressive in nation
Kansas is on a rocky future for many people living in KS ...
See >>> http://www2.ljworld.com/news/2012/may/27/kansas-tax-act-most-regressive-nation/
The nonpartisan Legislative Research Department has estimated that the act will reduce Kansas government revenues by $4.5 billion over the next six years. Inevitably, there will be major reductions in the government services Kansans have come to expect especially education.
Equally important, the act dramatically changes the Kansas tax system, shifting the income tax burden from the wealthy and prosperous to working people. The act provides that all income of business owners is tax-free (except in the unusual case where a regular corporation is used). Although the act was promoted as a boost to small business, there is no limit on the size of business that can be exempt from tax.
Income of professionals such as doctors, lawyers, architects, and accountants practicing in partnerships will be tax-free. In a law firm, for example, the partners will pay no tax, while the clerical staff will continue on the tax rolls.
Income received from partnerships and trusts will be tax-free. Wealthy Kansans who own real estate, stocks, bonds and other investments will simply transfer those assets to a partnership or trust, thereby freeing all their investment income from tax.
See >>> http://www2.ljworld.com/news/2012/may/27/kansas-tax-act-most-regressive-nation/
zbdent
(35,392 posts)and soon, maybe all but the die-hard Kansans will be somewhere else ...
Who's going to do the work for all the wealthy ones?
RKP5637
(67,102 posts)wants to live in a theocratic dystopia in a race to the bottom.
fascisthunter
(29,381 posts)idiots
RKP5637
(67,102 posts)being the 3rd world leader in the race to the bottom will make Kansas a winner. Maybe at the bottom of the heap. Here's a picture of the future of Kansas from another posting. http://www.democraticunderground.com/1002734434
fascisthunter
(29,381 posts)fuck heads!
RKP5637
(67,102 posts)fascisthunter
(29,381 posts)SheilaT
(23,156 posts)Now if I can only persuade my son to relocate.
RKP5637
(67,102 posts)decisions like KS just made if other states follow. Good decision getting out of KS. Many have made similar decisions to leave KS.
Canuckistanian
(42,290 posts)Let's all watch Kansas to see if a new paradise of full employment and prosperity begins.
In the mean time if you're poor or middle class, you're stuck paying all the taxes for the state.
Good luck attracting labor and skilled workers. You know, the people who actually make things work?
bbgrunt
(5,281 posts)YellowRubberDuckie
(19,736 posts)...they'll blame Obama.
RKP5637
(67,102 posts)jade3000
(238 posts)Wow, this is sad state of affairs.