Today, Senate Republicans in the West Virginia Legislature introduced a bill to eliminate all income tax and, of course, all corporate taxes and replace it with an 8 percent sales tax on everything from food to services.
Sounds good? No more West Virginia income tax. Yea.
But now you will pay 8% on food, any purchases, and any services.
Who will feel the impact of this new proposal? Anyone making less than $50,000 per year will experience an overall tax increase, and anyone making over $50,000 will experience an overall tax decrease. In other words, over 80 percent of the West Virginia population will pay more in taxes and the richer 20 percent will pay less.
Who won't feel the impact of this proposal? Corporations, who will pay no income tax, and the coal, oil, and gas industry because the severance tax is lowered to 3% under this plan. See a trend here folks? Corporations win, people lose.
Who won't feel the impact of this proposal? Corporations, who will pay no income tax, and the coal, oil, and gas industry because the severance tax is lowered to 3% under this plan. See a trend here folks? Corporations win, people lose.
Typical Republican plan: take from the poor, give to the rich.
The lead sponsor of this plan is none other than our quack Senator from Upshur County, Robert Karnes, who, if he had his way, would eliminate all taxation and all government services. He is joined by our other Senator, Greg "Bozo" Boso from Nicholas County.
The bottom line for the state's budget will be less revenue and more deficits. The fact is these legislators have no data to support whether this "consumption tax" will generate enough revenue to fund state government even if they cut $500 million from the budget to balance the same as it stands now.
At least West Virginia will be first in something: the highest grocery tax in the nation.
At least West Virginia will be first in something: the highest grocery tax in the nation.
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