Wednesday, March 09, 2011
Like many states, Georgia is facing a budget shortfall. To address the problem, the legislature is considering a bill that would expand the tax base by doing things like reinstating a sales tax on food and raising the tax on gasoline...
But while Girl Scouts and anyone who buys groceries and gasoline is forced to sacrifice, domestic and foreign corporations in Geogia are being lavished with a tax break. The same bill that raises taxes on Girl Scouts Cookies lowers tax rates on corporate income, from 6 percent this year to just 4 percent in 2014.
That is how you transfer wealth from the lower and middle classes to the upper crust, via highly regressive taxation.
(via gyma at Spork)