Everyone knows that Idaho ranks poorly in education and wages and that our roads and bridges are falling apart. Yet when considering the most compelling need for this year’s legislature should address, Rep. Mike Moyle, R-Star, decides it’s best to tee up a tax cut for the wealthy. Moyle’s rationale is that giving more to the rich will stimulate the economy and create more jobs for the poor.
The problem is, the “trickle-down” theory that supports his claim has been proven to be wrong over and over again. All it really does is make the rich richer.
According to a study recently published in the Statesman, Moyle’s plan would primarily benefit households making more than $444,000 per year, who would see their state income taxes go down by $815 per year. Middle income Idahoans would see a whopping $23 per year drop.
In the meantime, the state would have $31 million less for schools, roads and bridges.
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I’m sure a one-tenth of 1 percent decline in Idaho’s corporate tax level will have businesses falling over themselves to move to Idaho.
I guess lower income Idahoans will just have to look forward to fighting over the crumbs the wealthy drop.
Rick Tholen, Eagle