Mike Weinholtz on Tax Reform
Convert 5% flat tax rate to progressive tax & raise $179M
A balanced budget is important for the good of the state and, as a successful business owner, I know how devastating high tax rates can be for business and families. However, cutting taxes year after year has had a disastrous effect on our schools,
roads, public works, and social services. In 2007, Utah moved from a progressive tax to a 5% flat tax, costing us $479 million each year. Without an educated workforce, safe roads, efficient water systems, and safe communities, businesses will not want
to set up shop in Utah--and that is not a Utah I want to live in.
As governor, I propose an income tax increase for the top 1.5% of all Utahns (including myself): a 1% increase for those households earning between
$250,000 and $1 million a year and 2% for those earning over $1 million. This small change will bring nearly $179 million to our schools.
Source: 2016 Utah gubernatorial campaign website MikeForUtah.com
, Jun 17, 2016
Page last updated: Jul 22, 2017