Alabama collects fewer dollars in state and local taxes per capita than every other state but Tennessee, the Public Affairs Research Council said in a new report.
State and local taxes in Alabama were $3,756 per capita. Tennessee, at $3,719, was the only state lower. That does not include revenue Tennessee collects from a state lottery, which would raise it above Alabama, the report notes.
History proves that low taxes and low spending work
But increasing taxes and spending is a failed economic theory that leads to long-term poor economic results. In fact, our real-world economic history shows that an economic strategy of lower tax rates and spending is the best way to achieve strong economic growth.
In the 1960s, after a series of recessions and slow growth under a tax system with wartime rates as high as 91%, John F. Kennedy was elected on a promise to get the country moving again. Kennedy said that the best way to increase economic growth was to take the "tax brake" off the economy.
Liz Weston: What happens to my taxes when my brother buys my half of house our mother gave us?
Cheswick holds line on taxes in 2023 proposed budget | TribLIVE.com
Cheswick residents shouldn’t expect any tax increases next year if the 2023 proposed budget is passed next week.
The $2.4 million proposed budget marks about a 10% increase over this year’s $2.2 million budget, with most of the increases coming from infrastructure projects, said Lorraine Zebrine, borough secretary.
Cincinnati Council may end the decades-long property tax rollback, increasing taxes in 2024 | WVXU
City administration recommends using the maximum tax rate every year. If the rate is increase to 6.1 mills, which city voters approved years ago, the revenue for fiscal year 2024 would be about $36 million.
Keating says she supports ending the rollback eventually, maybe even as soon as next year; but she's not sure yet if she'll vote in favor of raising property taxes this time.
Taxpayers filing their 2022 taxes could be in for a 'refund shock' | Washington Examiner
W hile many are getting ready to begin filing their 2022 taxes at the start of the New Year, it is likely that the refund they receive this year will not be as big as the refund they received last year.
The previous tax year "was quite a remarkable year with the insertion of all those new tax breaks," explained Mark Steber, the chief tax information officer at Jackson Hewitt. "But jump ahead to this year, and a lot of the increases expired, hence the term 'refund shock' or 'refund surprise.'"
Saint Clair to not increase taxes for 2023 | State | wfmz.com
The Welcome To Saint Clair sign greets visitors entering the borough on West Russel Street. The borough was established in 1850.
The council voted Tuesday to approve the 2023 budget, keeping the real estate tax rate at 5 mills, despite a 12% increase in spending over this year.
Property taxes due by Dec. 31 | Local News | enidnews.com
Russia might raise taxes in high-margin resource sectors -Finance Minister | WKZO | Everything ...
(Reuters) – Russia's finance ministry will analyse whether there is potential to increase taxes in resource sectors of the economy where there are high margins, Deputy Finance Minister Alexei Sazanov said on Friday.
Russia is already gearing up for more than $60 billion in tax increases for the oil and gas industry in 2023-2025, the biggest such rises in its history, as it seeks to plug a budget gap and fund its military campaign in Ukraine.
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