Nbadan
06-23-2005, 05:05 AM
June 23, 2005, 12:59AM
Perry's plan helps rich at others' expense
A Chronicle analysis shows wealthy would save, but renters would pay more
By R.G. RATCLIFFE
Copyright 2005 Houston Chronicle Austin Bureau
AUSTIN - Gov. Rick Perry's plan for property tax relief would provide a windfall for the wealthiest families in Texas, but for lower-income renters the governor's plan would be a financial drain on the family budget, a Houston Chronicle analysis showed. And after more than a year of legislative wrangling over property tax relief, the tax savings for the median family in Texas would amount to about $150 a year under Perry's plan — a savings of about $12.75 a month.
The real winner of the school property tax cuts would be business, which pays about 54 percent of all the school property taxes in Texas.
(snip)
House and Senate plans that died during the regular session had sales tax levies similar to the governor's, hitting the state's poor the hardest for the benefit of the wealthy.
The official Legislative Budget Board analysis of a tax plan the House Ways and Means Committee is taking up today says the plan would increase the overall tax burden for all but the wealthiest Texans. Families with an annual income of more than $100,000 collectively would receive a $351 million-a-year tax cut, while everyone else's taxes would go up a collective $935 million.
(snip/...)
Why am I not at the least surprised?
:hat
Perry's plan helps rich at others' expense
A Chronicle analysis shows wealthy would save, but renters would pay more
By R.G. RATCLIFFE
Copyright 2005 Houston Chronicle Austin Bureau
AUSTIN - Gov. Rick Perry's plan for property tax relief would provide a windfall for the wealthiest families in Texas, but for lower-income renters the governor's plan would be a financial drain on the family budget, a Houston Chronicle analysis showed. And after more than a year of legislative wrangling over property tax relief, the tax savings for the median family in Texas would amount to about $150 a year under Perry's plan — a savings of about $12.75 a month.
The real winner of the school property tax cuts would be business, which pays about 54 percent of all the school property taxes in Texas.
(snip)
House and Senate plans that died during the regular session had sales tax levies similar to the governor's, hitting the state's poor the hardest for the benefit of the wealthy.
The official Legislative Budget Board analysis of a tax plan the House Ways and Means Committee is taking up today says the plan would increase the overall tax burden for all but the wealthiest Texans. Families with an annual income of more than $100,000 collectively would receive a $351 million-a-year tax cut, while everyone else's taxes would go up a collective $935 million.
(snip/...)
Why am I not at the least surprised?
:hat