Please understand that the Georgia Budget and Policy Institute is a bunch of radical liberals who never met a tax increase they didn’t like or a tax cut that they did.
Eliminating or significantly reducing Georgia’s personal income tax would result in a double-digit sales tax, increasing the tax burden on up to 80 percent of taxpayers, an Atlanta-based think tank reported Wednesday.
A study released by the Georgia Budget and Policy Institute (GBPI) found abolishing the 6 percent state income tax would force the General Assembly to raise the combined state and local sales tax rate from the current 7 percent to as high as 14.5 percent in order not to lose revenue.
Cutting income taxes in half would still drive up state and local sales taxes to a combined rate of 9.6 percent, according to the report.
“The surprise here is how extreme the tax shift is from Georgia’s wealthiest taxpayers to its low- and middle-income families,” said Wesley Tharpe, the GBPI’s tax policy analyst and the study’s author.
via Study: Cutting income tax would hurt Georgians – Atlanta Business Chronicle.
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