By Cindy Alia 3/20/25
The State Legislative Democrats have decided how they will fund the never ending solutions they propose and promulgate with your dollars.
The revenue proposal they have released inclules:
Increasing the property tax cap
A 5% payroll tax on payroll expenses above $176,100 per year for companies with $7 million or more in payroll expenses
A wealth tax on individuals with wealth above $50 million
A state sales tax reduction from 6.5% to 6%
Elimination of 20 tax exemptions
The expectation is that this will create revenue of about 6 billion of the $12 billion needed to balance the budget. Please tell us again how this will make the wealthy pay for state government on behalf of the ordinary wage earning citizen. Looks like it may be a case of trickle down poverty theory.