As Utah lawmakers look to slashing state personal income taxes by $70 million in a special session next week, Gov. Jon Huntsman Jr. is already talking about taking the next step — more tax cuts that lead to even lower rates.
"It's a first step," the governor said of the dual-track income tax system that would allow taxpayers to stay in the current system or elect to pay a flat tax beginning in 2007. "There's more to come."
First of all, wouldn't it be nice if Maine's top income tax rate were only 7%, instead of 8.5%? And if I had the opportunity to jump into a 5.35% state income tax bracket, and all I had to do was give up mortgage interest and charitable contribution deductions, I'd sign up in a heartbeat. The only other thing Utahns are being asked to do is increase their sales tax up to the same rate as Maine's (5%).
If Utah can do it, why not Maine?
Peace,
Tor
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