AZ Desperately Needs Tax Reform
Arizona needs tax reform, and we need it now.
The Legislature has received countless letters and emails from businesses that talk of the stifling effect government – both state and federal, has had on their companies, their innovation and their desire to grow.
Instead of forcing businesses to base their saving and investment decisions on taxes, we should provide the grounds that foster economic growth meanwhile encourage innovation and investment.
Not every economist (or politician) will agree that lowering taxes on capital income fosters greater investment, greater economic growth and higher standards of living. Yet every business takes capital income taxes into consideration when deciding whether to move into a state or even move out...as in the case of California.
The question we must ask – is Arizona as business friendly as we could be?
In comparison to our neighboring states (with the exception of California), we lag far behind in terms of having a business friendly environment.
Raising taxes on an already flailing economy will only harm businesses and in turn harm families – the very families that help sustain our great state.
Even if Democrats were able to squeeze $1 billion more from businesses and families that are already struggling, they would still be unable to close the $1 billion budget deficit that they’ve admitted they are short in their budget proposal.
As Speaker Pro Tem Steve Yarbrough said, “Instead of reducing unaffordable expenditures to bring them into alignment with revenues like every other household, business, and local government is doing, the House Minority wants to take more from Arizonans.”
The question we must answer is how can we make Arizona a more business friendly state and what can we do to foster long term growth?
This will take real leadership who can provide for a qualified workforce and a business friendly environment.
The Legislature has received countless letters and emails from businesses that talk of the stifling effect government – both state and federal, has had on their companies, their innovation and their desire to grow.
Instead of forcing businesses to base their saving and investment decisions on taxes, we should provide the grounds that foster economic growth meanwhile encourage innovation and investment.
Not every economist (or politician) will agree that lowering taxes on capital income fosters greater investment, greater economic growth and higher standards of living. Yet every business takes capital income taxes into consideration when deciding whether to move into a state or even move out...as in the case of California.
The question we must ask – is Arizona as business friendly as we could be?
In comparison to our neighboring states (with the exception of California), we lag far behind in terms of having a business friendly environment.
Raising taxes on an already flailing economy will only harm businesses and in turn harm families – the very families that help sustain our great state.
Even if Democrats were able to squeeze $1 billion more from businesses and families that are already struggling, they would still be unable to close the $1 billion budget deficit that they’ve admitted they are short in their budget proposal.
As Speaker Pro Tem Steve Yarbrough said, “Instead of reducing unaffordable expenditures to bring them into alignment with revenues like every other household, business, and local government is doing, the House Minority wants to take more from Arizonans.”
The question we must answer is how can we make Arizona a more business friendly state and what can we do to foster long term growth?
This will take real leadership who can provide for a qualified workforce and a business friendly environment.