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Friday, March 1, 2013

Arkansas Politics Here come the tax cuts for the rich

Posted by Lindsey Millar on Fri, Mar 1, 2013 at 7:28 PM

COLLINS

Rep. Charlie Collins filled two income tax cut bills today. He'll call his approach "equitable," but unsurprisingly it's a massive giveaway to the rich. His two bills, one of which goes into effect less incrementally, accomplish the same goal: 1. They make Arkansas's woefully outdated marginal tax brackets more progressive by raising all the bracket thresholds and lowering one rate at the low-end. 2. And, more importantly to the state's bottom line, they slash the highest rate.

Here's HB1585 (the more agressive one) and a simple spreadsheet breakdown I made, and here's HB1586 and a spreadsheet.

To give you a sense of the cuts, under HB1585, a person making $20,000 would pay $166 less in state income tax next year. A person making $200,000 would pay $1,194 less.

Can't wait to hear how this gets paid for....

Tags: Charlie Collins

        
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Speaking of Charlie Collins

The case for private option Medicaid expansion

April 10, 2013

by Max Brantley

Republican Rep. Charlie Collins of Fayetteville has put together an analysis of the legislature's great pending issue — whether to take advantage of the Medicaid expansion provided by Obamacare through a "private option" expansion of government-financed private insurance coverage. /more/
Republicans target existing Medicaid program

March 27, 2013

by David Ramsey

One of the key appeals of the "private option" to Republican lawmakers is that it moves significant populations that now get coverage under Medicaid out of the public program and onto subsidized private insurance. /more/
Expansion likely leads to feds paying for tax cuts in Arkansas

March 27, 2013

by David Ramsey

In pushing for his tax cut yesterday, Rep. Charlie Collins mentioned the possible healthcare expansion deal. /more/
A fairer tax cut from Democrats

March 22, 2013

by Max Brantley

Rep. Warwick Sabin says he's amended his income tax realignment proposal, HB 1926, to eliminate a new 7.5 percent top rate for the highest income taxpayers. /more/
Tax cut bill benefits wealthy, no help to poor

March 18, 2013

by Max Brantley

Now comes Arkansas Advocates for Children with an analysis of HB 1585 by Rep. Charlie Collins, now pending in a House committee. /more/
I pledge allegiance to Grover

March 15, 2013

by David Ramsey

We mentioned yesterday that Grover Norquist is giving Arkansas Republicans permission to vote for dinky tax increases even though normally voting for a tax increase will turn you in to a severed rat head floating in a bottle of Coke. /more/
Morning legislative notes: ambivalence about guns on campus, no word on Beebe vetoes until next week

February 22, 2013

by Lindsey Millar

News and notes at the ledge. /more/
More »

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Arkansas Blog

Friday, March 1, 2013

Arkansas Politics Here come the tax cuts for the rich

Posted by Lindsey Millar on Fri, Mar 1, 2013 at 7:28 PM

Speaking of Charlie Collins

Republican Rep. Charlie Collins of Fayetteville has put together an analysis of the legislature's great pending issue — whether to take advantage of the Medicaid expansion provided by Obamacare through a "private option" expansion of government-financed private insurance coverage. /more/

One of the key appeals of the "private option" to Republican lawmakers is that it moves significant populations that now get coverage under Medicaid out of the public program and onto subsidized private insurance. /more/

In pushing for his tax cut yesterday, Rep. Charlie Collins mentioned the possible healthcare expansion deal. /more/

Rep. Warwick Sabin says he's amended his income tax realignment proposal, HB 1926, to eliminate a new 7.5 percent top rate for the highest income taxpayers. /more/

Now comes Arkansas Advocates for Children with an analysis of HB 1585 by Rep. Charlie Collins, now pending in a House committee. /more/

We mentioned yesterday that Grover Norquist is giving Arkansas Republicans permission to vote for dinky tax increases even though normally voting for a tax increase will turn you in to a severed rat head floating in a bottle of Coke. /more/

News and notes at the ledge. /more/

Comments (13)

More by Lindsey Millar

Talk, talk

Open line.

Event Calendar

Re: UPDATE: FBI confirms State Treasurer Martha Shoffner's arrest, apparently for official misconduct

Re: UPDATE: FBI confirms State Treasurer Martha Shoffner's arrest, apparently for official misconduct

The shoe drops. This mug shot of Democratic state Auditor Martha Shoffner appeared on the Pulaski County sheriff's office jail intake page late this afternoon.

The day's not done, but I've seen two excellent films at the Little Rock Film Festival.

Circuit Judge Wendell Griffen, injured in a bicycle accident last week near his home, sent me an update this morning from his iPad.

PS — It's a bogus quote. PPS — Nate Bell defends Hitler citation.

Public for the first time, the woman who married Damien Echols discusses their relationship

For the vegetarian banh mi sandwich.

Our news partner Channel 4 has a news story that deserves repetition in full. More national headlines for the small people of Arkansas should follow directly.