Friday, August 08, 2008

Taxing our way to prosperity still not working

A Tax Foundation study out today shows that in 2008, citizens of twenty four states pay a higher portion of their income than Kentuckians do. The same report, though, shows that only four states have a larger discrepancy between state rank for tax burden (25) and per capita income (47).

Neighboring Tennessee has the eighth lowest tax burden in the nation and a per capita income $3751 higher than Kentucky's. It seems that if Kentucky wants its citizens to earn income like its neighbors to the south do, it will resist raising taxes and may do well to consider eliminating all income taxes.