State revenue dips in August | Arkansas Blog

Wednesday, September 5, 2012

State revenue dips in August

Posted By on Wed, Sep 5, 2012 at 9:42 AM

Republicans are hot to do away with the state income tax and pay for the enormous loss with growth in other revenue. Riiiiiight.

See the August report on state tax revenue.

The net was down 1.2 percent from August last year and .8 percent below forecast. The only strength was in income tax collection. Key sentence: "Sales and Use taxes were down in all business and consumer-related categories except automobile sales." They'll go way up, of course, when the Republicans hoped-for majority can end the income tax — to save millions for the wealthy — and pick up slack by jacking up the sales tax some more.

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