Monday, February 22, 2010

Nothing from Nothing Leaves...

This is an editorial from the KC Star on Saturday February 20, 2010:
An audit released to the Kansas Legislature this week showed 47 tax credits and two tax refund programs cost the state $669 million in 2007, while 99 sales tax exemptions cost $4.2 billion in 2009.

Kansas has suffered a $1 billion revenue drop and is facing an added $400 million deficit in the next fiscal year. It can ill afford to give away $4.9 billion a year.

The Legislative Division of Post Audit recommends that lawmakers take a close look at tax exemptions and work out a consistent policy to make sure they benefit the state.

Well done to the auditors. We call for a total redo.

Just thinking out loud how many people that you know receive tax exemptions on what they buy?

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