Muda69 Posted March 16, 2022 Share Posted March 16, 2022 https://www.indystar.com/story/news/politics/2022/03/16/indiana-gov-eric-holcomb-signs-income-tax-cut-into-law/7059127001/ Quote Gov. Eric Holcomb signed a $1.1 billion tax cut package Wednesday, which could reduce Indiana's income tax rate from 3.23% to 2.9% over seven years. Hoosiers will start seeing some of those savings as early as 2023, when the tax rate drops to 3.15%. A Hoosier making $29,777, the average pay between 2015-2019, would save just under $24 on 2023 taxes. Those making $50,000 per year would save $40 on 2023 taxes. After the first tax cut in 2023, future tax cuts would occur only if state revenue growth reached 2% the prior year. That threshold is usually met, unless there is a serious economic downturn like there was in 2020. If all of the cuts do get phased in, Indiana would have one of the lowest income tax rates in the country. A Hoosier making $29,777, the average pay between 2015-2019, would save around $100 per year. Those making $50,000 per year would save $165 per year. House Bill 1002 would also eliminate utility taxes that all Hoosiers pay, saving residents and businesses $220 million annually. Those taxes are 1.4% currently, which Kerwin Olson, executive director of consumer advocacy group Citizens Action Coalition, said only amounts to maybe $4 or $5 per month for homeowners on the high end, if a taxpayer pays for water, sewer, gas and electric. It's more significant for heavy energy-using manufacturers. The money from the tax cut package is in addition to the $125 refund each Hoosier taxpayer will get after they file their taxes this year, due to higher than expected state revenue numbers during the 2021 fiscal year. Holcomb has already signed more than 100 other bills, including ones limiting vaccine mandates, banning coerced abortion, closing a rape loophole in Indiana law and restricting bail organizations. Good. Indiana: Land of (slightly lower) taxes. Too bad they don't cover the growing cost of living via inflation. 1 Link to comment Share on other sites More sharing options...
DE Posted March 16, 2022 Share Posted March 16, 2022 21 minutes ago, Muda69 said: https://www.indystar.com/story/news/politics/2022/03/16/indiana-gov-eric-holcomb-signs-income-tax-cut-into-law/7059127001/ Good. Indiana: Land of (slightly lower) taxes. Too bad they don't cover the growing cost of living via inflation. Woodrow Wilson was one of the 1st globalist presidents. Repeal the 16th amendment. Research why the 16th was passed. Been lying a looooooong time. We are NOT their blank checks. 1 Link to comment Share on other sites More sharing options...
Muda69 Posted March 16, 2022 Author Share Posted March 16, 2022 13 minutes ago, DE said: Woodrow Wilson was one of the 1st globalist presidents. Repeal the 16th amendment. Research why the 16th was passed. Been lying a looooooong time. We are NOT their blank checks. Agreed. The passage of the 16th amendment was an act of greed and avarice. 1 Link to comment Share on other sites More sharing options...
DE Posted March 16, 2022 Share Posted March 16, 2022 6 minutes ago, Muda69 said: Agreed. The passage of the 16th amendment was an act of greed and avarice. Yes Sir. Sold our country out. 1 Link to comment Share on other sites More sharing options...
DanteEstonia Posted March 17, 2022 Share Posted March 17, 2022 Where does Indiana plan on making up the lost tax revenue? Link to comment Share on other sites More sharing options...
Muda69 Posted March 17, 2022 Author Share Posted March 17, 2022 8 minutes ago, DanteEstonia said: Where does Indiana plan on making up the lost tax revenue? Cutting spending would be nice. Something I am sure you find abhorrent. Link to comment Share on other sites More sharing options...
DanteEstonia Posted March 17, 2022 Share Posted March 17, 2022 35 minutes ago, Muda69 said: Cutting spending would be nice. Doesn't Indiana spend like 85% of its State budget on education? Link to comment Share on other sites More sharing options...
DE Posted March 17, 2022 Share Posted March 17, 2022 9 hours ago, Muda69 said: Cutting spending would be nice. Something I am sure you find abhorrent. BINGO. If you cut taxes, people have more money to spend and that ultimately gives us the freedom to CHOOSE if we want to spend our hard earned money. How it is now, we have zero say on how our tax money is spent and if you think you do, look at how much money we just gave to ukraine to protect their borders, but the same politicians in dc won't spend the money to protect our southern border. oh btw, they just gave themselves a 21% pay raise. 10 hours ago, DanteEstonia said: Where does Indiana plan on making up the lost tax revenue? please tell me you are joking. please. Link to comment Share on other sites More sharing options...
DE Posted March 17, 2022 Share Posted March 17, 2022 10 hours ago, DanteEstonia said: Where does Indiana plan on making up the lost tax revenue? if you would research or just ask about wilson instead of the kmn emoji, you would have easily gotten your answer. a. produce american goods and buy american goods, see 3. b. raise tariffs on imports, you know, the thing that wilson cut to ram through the 16th, then immediately raised tariffs again. c. sales tax, which would give us the CHOICE to buy or not. FREE MARKET. 1 1 Link to comment Share on other sites More sharing options...
Muda69 Posted March 17, 2022 Author Share Posted March 17, 2022 12 hours ago, DanteEstonia said: Doesn't Indiana spend like 85% of its State budget on education? Probably. I'm sure there is no waste or fraud in that 85%, do you? Link to comment Share on other sites More sharing options...
DE Posted March 17, 2022 Share Posted March 17, 2022 15 hours ago, DanteEstonia said: Where does Indiana plan on making up the lost tax revenue? I apologize for missing this lay up. Look no further than Florida. 1 hour ago, Muda69 said: Probably. I'm sure there is no waste or fraud in that 85%, do you? Raises hand immediately....pick me, pick me. 😂 Link to comment Share on other sites More sharing options...
Muda69 Posted March 17, 2022 Author Share Posted March 17, 2022 1 hour ago, DE said: Raises hand immediately....pick me, pick me. 😂 If you have some prime examples of waste and fraud in Indiana's government school hegemony then please share it. Link to comment Share on other sites More sharing options...
DE Posted March 17, 2022 Share Posted March 17, 2022 https://www.nwitimes.com/news/local/crime-and-courts/former-hammond-associate-superintendent-announces-intent-to-sue-district-for-defamation/article_b6c7a5e0-6b03-5e9d-88ea-cb87b93393cf.html https://www.nwitimes.com/news/local/school-city-of-hammond-associate-superintendent-resigns-abruptly/article_768e67cb-cd67-5864-a1f8-7d31d708549c.html waste....oh boy.... will take some time. Link to comment Share on other sites More sharing options...
DE Posted March 17, 2022 Share Posted March 17, 2022 Here is an example of waste: https://www.indystar.com/story/news/education/2019/11/19/red-for-ed-action-day-march-indiana-statehouse/4178392002/ Red for Ed I was given a day off, paid of course (Thank you to all the taxpayers BTW), to go show my support for Red for Ed. I of course did not go. My job is to teach and not be a political pawn. I went to school and worked. 2 1 Link to comment Share on other sites More sharing options...
Muda69 Posted March 18, 2022 Author Share Posted March 18, 2022 (edited) 17 hours ago, DE said: Here is an example of waste: https://www.indystar.com/story/news/education/2019/11/19/red-for-ed-action-day-march-indiana-statehouse/4178392002/ Red for Ed I was given a day off, paid of course (Thank you to all the taxpayers BTW), to go show my support for Red for Ed. I of course did not go. My job is to teach and not be a political pawn. I went to school and worked. Thank you for truly caring about the education of children. I take it you are not a card carrying member of the ISTA? Edited March 18, 2022 by Muda69 Link to comment Share on other sites More sharing options...
DE Posted March 18, 2022 Share Posted March 18, 2022 17 minutes ago, Muda69 said: Thank you for truly caring about the education of children. I take it you are not a card carrying member of the ISTA? You are welcome. It is truly my pleasure. Link to comment Share on other sites More sharing options...
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