New Tax Structure? Worth considering since the present one isn't working - The Reporter:
"Government is a victim of the same economic woes that have felled the business world.
* The state revenue stream relies too heavily on capital gains taxes and, in turn, the fortunes of the stock market, leaving it vulnerable to unpredictably wild swings in revenue.
A year ago, the governor appointed a 14-member panel to study the state's tax structure and make recommendations on how to stabilize it. The Commission on the 21st Century Economy was supposed to make its report a week ago. As of Friday morning, it was still working on the final document. But draft reports had already drawn plenty of naysayers, including one commission member who was reported to have said that he would not sign off on the document."
"Government is a victim of the same economic woes that have felled the business world.
* The state revenue stream relies too heavily on capital gains taxes and, in turn, the fortunes of the stock market, leaving it vulnerable to unpredictably wild swings in revenue.
A year ago, the governor appointed a 14-member panel to study the state's tax structure and make recommendations on how to stabilize it. The Commission on the 21st Century Economy was supposed to make its report a week ago. As of Friday morning, it was still working on the final document. But draft reports had already drawn plenty of naysayers, including one commission member who was reported to have said that he would not sign off on the document."
