Time for progressive tax reform in Kentucky
Editor’s note: Democratic state Representatives Tom Burch, Joni Jenkins, Reginald Meeks, Mary Lou Marzian, Attica Scott and Jim Wayne of Louisville and Rep. Kelly Flood of Lexington submitted the following column outlining their tax reform plan.
We applaud Gov. Matt Bevin for seeking input on how to overhaul Kentucky’s tax code and ensure our obligations to public workers and retirees are met. There is really no question Kentucky needs to clean up its tax code so we can generate more revenue to pay those liabilities and better afford the public investments that benefit us all.
There is a sensible way forward on tax reform based on facts like this: Kentucky’s richest, who earn an average $839,500 per year, pay just 6 percent of their income in state and local taxes while the poorest, who earn an average of $9,100, pay 9 percent of their income.
Kentucky’s tax code is upside-down. Low and middle-income Kentuckians pay more of their income in taxes than high-income Kentuckians and corporations that take advantage of loopholes. It has become more so over time, reflecting not only rising income inequality but also tax and budget choices, such as expanding special interest tax breaks and cuts to programs that serve everyone.
Asking those at the top to chip in a little more will make the system fairer, while also bringing in much needed revenue for investments in quality public schools, affordable college and strong communities.
Read more: http://www.state-journal.com/2017/07/15/time-for-progressive-tax-reform-in-kentucky/