I have been mulling over Gov. Matt Bevin’s State of the State address, guardedly optimistic that Kentucky may actually change its outdated tax system. Bevin said we must search out more revenue, not only for our monumental pension liability but also for other services. A healthy tax structure, bringing in enough revenue, influences our ability to invest in schools, good roads, affordable higher educatio, and public health and safety.
I hope that Kentuckians will share with their legislators ways to make taxes more fair to everyone. Not many folks realize that low- and middle-income Kentuckians pay about 11 percent of their income to state and local taxes, while the state’s wealthiest 1 percent pay about 6 percent. It seems a simple and fair fix to correct this discrepancy. For the lower-income 60 percent of us, these changes would likely result in reduced taxes.
Bevin talked about closing business tax loopholes. Good idea. Ask your legislator about taxing luxury services like limo rides, armored car services and private golf club fees. Surrounding states do; why not Kentucky?
We’re ready to move Kentucky forward. Let’s make our tax code just, yet adequate to Kentucky’s needs.