Loss of income tax will create revenue shortfall
As prominent members of the Georgia Legislature make election-year promises to repeal the state’s personal income tax, few, if any, have offered a viable explanation as to how the projected $16 billion revenue reduction by 2032 will be replaced. Keep in mind, apart from individual and corporate taxpayers and funding from the federal government, the state government has no money. The federal government is not going to make up the difference.
Sales taxes, personal income taxes and corporate income taxes comprise the bulk of the state’s revenue. The diversity of Georgia’s tax system has served the state well for decades. Not only does it offer the best chance of achieving fairness among various taxpayer types (though perfect equity will never be achieved), but it also provides flexibility when change is necessary.
It is often suggested that the revenue shortfall could be offset by eliminating existing tax credits. History has shown, however, that this argument rings hollow, is invariably political, and has never been an honestly held intention of our elected representatives. This suggestion could easily be put to the test by requiring that the legislature first eliminate tax breaks before voting to eliminate the personal income tax. You would find few takers, I’m sure.
But Georgia’s voters should demand it.
S. MCWILLIAMS, COVINGTON
Education improves when focus is on 3Rs
Recently, some politicians stated that they would make improving education results a key element of their future efforts. These candidates seeking voters’ blessing to run for office forget that educational outcomes depend on learning reading, writing, and math skills before all else.
Political positions are not a useful subject matter unless one is planning to continue donating the usual millions to the Democratic Party.
RUSSELL ARMER, WOODSTOCK
Americans have paid high price for tariffs
The numbers are in, and the message is clear: Tariffs are like spitting into the wind. You think the spit will land on someone else, but it blows right back in your own face.
The “other guys” don’t pay tariffs — Americans do. Federal trade data show that in the past year, Americans and American companies absorbed roughly 90% of tariff costs, totaling well over $130 billion on imported goods. Here in Georgia alone, businesses and consumers paid about $13 billion.
Economists estimate tariffs now cost the average American household about $1,700 a year. That’s because tariffs are simply taxes on imports, and those taxes get passed along to us in higher prices.
If the goal is to strengthen American industry and protect families’ budgets, tariffs are a costly and counterproductive way to do it. Policymakers should rethink this approach before the bill gets any bigger.
DEE STONE, EAST POINT
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