How bad is the new business tax going to be

After returning from Utah this week on Friday AM I attended one of the local coffee shop round table meetings and I must say things are abuzz. I have been instructed to read the local paper, so I will tackle that task over the weekend.

The renegade sect of the LDS sure has the conversation flowing among the folks in Utah. Blame it on Texas was the theme! I am not sure what they were trying to blame on us here in Texas. I have to go back in a few weeks so I will try to find out what Texas has done wrong.

According to an associate Mr. Sullivan it appears businesses are trying to determine how bad the new business tax is going to be....................................................

"Small businesses around the state are figuring out how much they have to fork over under the state’s new business tax, which is due May 15; they aren’t happy. No one is or should be. The gross (margins) tax was sold as a way to off-set property tax rate reductions (which happened), but most homeowners haven’t seen their tax burdens decline. And won’t.

The new tax is confusing, it’s frustrating and it’s simply bad economics no matter how you slice it. Businesses don’t pay taxes, businesses remit taxes. Only people pay taxes. Tax burdens placed on business are shared by business owners, shareholders and investors, employees, customers and the community at large.

Business taxes are attractive to politicians seeking to hide the cost of government without too many people actually seeing the bill. As a weapon in the arsenal of class warfare, business tax casualties are always lower-tier/entry-level employees and families struggling to start new businesses.

In short, the collateral damage of any business tax is the goose laying the golden egg of economic growth. In this latest iteration, the new business tax was designed to allow government to keep spending money while pretending property taxes were being cut.

Sure, some property owners might have seen a minor reduction in their property tax bill – but not enough to off-set the new tax, and everyone knows the unreformed appraisal system means property taxes will only rise. Republicans legislators gave Texas this new tax, and it’s in their political interest to end it."

"The only difference between a tax man and a taxidermist is that the taxidermist leaves the skin." -- Mark Twain

Want be much skin left if this bond election passes. State just cut us some slack and now the local taxing PISD wants to take it away. Just don't seem fair!