The legislative tax reform task force is continuing its work, trying to find ways to improve the Arkansas tax code. It has considered some good ideas for reform, aiming at the ultimate goal of lowering the state’s income tax rates. That type of reform should certainly be encouraged, but I would urge caution on some of the ideas being suggested to get there. The … [Read more...]
This is Why You Can’t Have Lower Taxes
If there is one thing that conservatives can agree upon, it’s that Arkansas needs tax reform. The state has a high tax burden and Arkansans deserve relief. So why are some conservatives standing in the way of pro-growth tax reform that would make the code fairer? Right now the state’s tax reform task force is meeting in an attempt to find a way to improve the Arkansas tax … [Read more...]
How Does Arkansas Compare to Other States on Taxes?
Every state does tax policy differently. This is good for policymakers at the state level, because they can look around the country for ideas. They can see what is working in other states as well as what is not working. Then they can adjust their tax policy accordingly. The Tax Foundation is an invaluable resource for assisting in this process. It is a national think tank … [Read more...]
Why is Arkansas Falling Behind Other States?
Most evil people aren’t born evil. In life and in literature, many villains become evil through a series of bad choices, most of which are small and minor. Those who become villains don’t suddenly say “Today I will fall from grace”; it is not so intentional as that. In retrospect, of course, the path away from good seems crystal clear. After decades of small fiscal mistakes, … [Read more...]
REPORT: Arkansas 38th In Nation For Business Tax Climate
Arkansas will be 38th in the nation in 2016 for its business tax climate, according to the Tax Foundation. Arkansas’s ranking was worse than every surrounding state. By comparison, Texas was ranked the 10th best state in which to do business, in part because the Lone Star state does not have either a corporate or individual income tax. From the Tax Foundation: The … [Read more...]
