The bottom 80% pay between 9 and 10% of their income in combined sales and income taxes compared to just 6.5% for the top one percent of earners. The tax rate corporations pay would fall from 6.9 percent “to 6 percent in 2014 and 5 percent in 2015″ and could drop to 3 percent in 2017. State revenue will fall by $500 million in two years and $2 billion over five years, setting the stage for a complete pirate-tization of all public services.
Posted on: Wed, 17 Jul 2013 13:26:53 +0000
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