Outline the positives and negatives associated with the lack of personal income tax in Texas
What will be an ideal response?
Answer:
A. Absence of Texas's personal income tax
1. positives: Conservative view
a. makes it more difficult for the state to raise tax rates
b. that raising it would likely have a negative impact on the state economy
c. state government is restrained
1. expenditures are essentially limited to current revenues plus increases that result from economic growth
2. coupled with the balanced budget provision, it limits the growth of government
2. negatives: Liberal view
a. current system is far too restrictive
b. Some vital government programs, such as education, deserve more government funding from an income tax
c. addition of a state income tax, unlike the sales tax, would be deductible from federal taxes
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