Lexington talk radio host Leland Conway put out a statement Sunday night in opposition to state income tax increases and the revenue “shortfall” problem:
“We need to make clear that this budget shortfall does not mean that the state is out of money. If you sat down and worked out a budget as though you earned $150K per year, while actually earning $75K per year, you would have a budget shortfall too. You’d have a budget that includes too much spending.”
“There is a solution. It’s HB 51 and it will eliminate Kentucky’s income tax on individuals and businesses. It makes up the revenue by adding a sales tax to certain services that are not currently taxed, but it lowers the overall sales tax rate to 5.5% while still exempting items like groceries and most medical supplies and medicines.”
“Currently, Kentuckians pay 5% income tax. If you make $50,000 a year, that’s $2500 cash back in your pocket, not counting the savings on the lower sales tax. This bill, pre-filed by Rep. Bill Farmer and co-sponsored by Rep. Stan Lee is a real solution.”
“While many other states are begging for bailouts and raising taxes on everything under the sun, Kentucky could be building its future.”
Leland can be heard weekdays 9 am to noon on 630 AM WLAP.