I’ll keep this brief. First, OurSchoolsNow is yet another in the litanny of Salt Lake Chamber of Commerce political front groups bent on raising economic burdens on Utah families. The latest gambit will be yet another “why do you hate school children?” guilt trip against those opposed to the tax increase. They’ll couple this with a quiet bit of math spin on the actual percent tax increase and neglect to mention the increase doesn’t apply to them (surprise!). They spin it as a 7/8% increase on you. No it’s not:
The first shot in this effort to raise individual income taxes by a whopping 18% from 5% to 5.875% while leaving all business taxes, including the 5% corporate income tax, unchanged was fired when the elites formally announced a petition drive to raise the individual income tax…
The real math equates to: 5.875/5 = 18% increase in rate. Again, note that the Chamber was sure to exempt the business tax rates*. People caught on to that and now they’ve moved on to a “1/2% increase” on two taxes (sales and income) still exempting themselves from an increase. The 1/2% is, yet again, a misnomer. Here’s the breakdown:
Income tax rate increase: 5.5/5 = 10% increase
Sales tax increase (5.95% is the State base rate and 6.45% would be the new rate) = 6.45/5.95 = 8.4% increase
Interestingly, added together that’s about 18% again, however, the actual burden of the sales tax increase depends on how much you spend. Furthermore, besides exempting themselves from the tax, Parents for Choice in Education (PCE) caught on that the Chamber didn’t appear all that willing to get rid of tax subsidies they gorge on…funds that could’ve gone to schools (
#ourschoolsnow stop campaigning to increase tax burden & focus on multiple subsidies robbing Ed budget”):
All this does is heap additional burdens on Utah families to keep the crony capital trough full, while virtue signalling they caaaare so much about children. The Utah swamp could use some draining.
*FWIW: I’m not a big fan of raising corporate rates – those are essentially just passed on to consumers anyway via increased product cost which can reduces sales (hence why the Chamber of Crony Capitalists exempt themselves).