This is THAT day; midnight is the deadline to file federal income tax or face a penalty for late filing. Take comfort if you just can't quite make it to the post office in time; one or two days late usually (I said usually) does not draw a fine or penalty.
Today the state legislature is supposedly hearing proposals to eliminate state income tax and increase the sales tax. No one can dispute that Louisiana has a high tax on income. I remember when it was not much more than an annoyance. But to replace it by increasing the sales tax would by wrong. For wealthy persons, the sales tax is little more than a bother while for those persons living in poverty it is a killer. A sales tax is popular for politicians because it can raise a lot of revenue and it is not opposed by the wealthy and powerful.
Persons really hit hard by income tax are unmarried workers with low wages. Take a worker earning in the range of 30 to 35 thousand a year. He or she will pay 21 per cent of total income in federal and state income taxes and social security. With what is left, the worker must pay apartment rent and utilities, pay for a car and high-priced gasoline in order to get to work, health premiums and retirement. Nothing or very little is left for food and barest necessities. That same individual can choose not to work and get "entitlements" from the feds and live much easier and better.
That is not right; the individual should be freed of paying federal and state income taxes.
Today the state legislature is supposedly hearing proposals to eliminate state income tax and increase the sales tax. No one can dispute that Louisiana has a high tax on income. I remember when it was not much more than an annoyance. But to replace it by increasing the sales tax would by wrong. For wealthy persons, the sales tax is little more than a bother while for those persons living in poverty it is a killer. A sales tax is popular for politicians because it can raise a lot of revenue and it is not opposed by the wealthy and powerful.
Persons really hit hard by income tax are unmarried workers with low wages. Take a worker earning in the range of 30 to 35 thousand a year. He or she will pay 21 per cent of total income in federal and state income taxes and social security. With what is left, the worker must pay apartment rent and utilities, pay for a car and high-priced gasoline in order to get to work, health premiums and retirement. Nothing or very little is left for food and barest necessities. That same individual can choose not to work and get "entitlements" from the feds and live much easier and better.
That is not right; the individual should be freed of paying federal and state income taxes.
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