Thursday, April 27, 2006

 

Arkansas Tax Rates Too High

Arkansas has the 27th highest per capita tax rate in the nation. In 1978, we were ranked 50th.(www.taxfoundation.org/taxdata/show/442.html). This is what prospective employers look to when moving their business to a new location. Yet, we Arkansans keep trying to lure manufacturing jobs to the state without doing anything to entice them.

Asa Hutchinson believes we should reform our tax system rather than trying to tax our way out of debt. “Now we’re at the point where we’re shockingly not competitive with our 7 percent income tax rate, our 6 percent sales tax rate. These are non-competitive rates with our region. So we cannot tax ourselves into prosperity and we cannot spend ourselves into prosperity” (Andrew DeMillo, AP, April 12).

He has also called for the use of the $25 million in the state’s general improvement fund, currently going to legislators’ pet projects, to be used for technology research at the state’s universities. Training students to be qualified for tech jobs makes Arkansas an attractive location for the high tech fields to relocate.Lower taxes and well-trained employees will expand the Arkansas tax base creating greater revenues.

Lower tax rates do create greater revenues; John F. Kennedy, Ronald Reagan and George W. Bush proved that. The federal tax revenues went up; however, Congress kept spending like drunken sailors, and so spending must be kept under control.

Asa Hutchinson is on the right track. Mike Beebe and his tax-and-spend buddies have become derailed. Let’s keep Arkansas looking forward and elect Asa Hutchinson.

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