With Kentucky’s ongoing budget/pension crisis coming to the forefront again this fall, our legislature must be willing to address the multitude of tax breaks benefiting special interests.
When Governor Bevin calls the special session of the General Assembly sometime in the coming months, most of the talk we’ll be likely to hear will involve potential sales tax increases, coupled with lowering corporate taxes.
Independent studies, as well as the Kansas debacle, show this aspect of reform will only result in a tax shift from the wealthy to the working poor and middle class.
The revenues needed to fix our deficit would still be lacking.
However, the most obvious way to increase our revenue is cutting out the loopholes and breaks for the wealthy. Kentucky has a general fund in the area of $10 billion each year.
It seems like a lot, until you see our Department of Revenue misses out on a potential $12 billion in giveaways to powerful interest groups.
If our state representatives ever decide to ignore their campaign donors, and instead listen to those too poor to afford a campaign contribution, our budget shortfall could be readily solved.
Dan Martin
Walton
I agree the Commonwealth’s tax policy needs a good overhaul but I’m afraid this Legislature and Governor will tilt it away from the lower and middle income folks and only the rich will benefit. They should be watched closely and we in northern Kentucky will suffer from lack of information coming out of the special session in the media.