Initiative 1077 would accomplish much
May 12, 2010 · Updated 12:21 PM
I was about to write a letter about the need for a state income tax to meet the needs of our schools when I read the editorial to that effect in last week’s Beachcomber. Bravo!
Bill Gates Sr.’s Initiative 1077 is to be celebrated. A graduated tax on individual incomes over $200,000, a cut of 20 percent in the state property tax and increasing the business and occupation tax credit to $4,800a re all moves which will make this state’s tax system more fair, and should increase state income to at least come close to covering the state’s obligation to pay the costs of basic education.
Three separate bills were introduced in the recent legislative session — SJR 8205, SJR8219 and HJR4221 — all attempting to amend the state Constitution so as to bring in a state income tax. None made it to the floor for a vote. Gates’ Initiative 1077 for the November election would let the voters decide. Watch for it!
— Joy Goldstein