Today the Select Committee on Tax Reform met and listened to two presenters give their advice on the upcoming SB 335.
Ted Boettner spoke about the dangers of eliminating the income tax. He said replacing the income tax with a consumption tax would hurt spenders with lower incomes. He went on to discuss Kansas and what has happened to them economically since they underwent a similar tax reform. Senator Ferns (R-Ohio) brought up that there were many factors to Kansas’ economic state and that it can’t all be contributed to their tax reform.
John Deskins, Ph.D. spoke to the committee on the three principles of taxes. He said that taxes should be simple, efficient, and fair and that an elimination of the income tax and replacement with a consumption tax may help to promote those principles. He also brought up that there are currently no taxes on services and there isn’t a reason why besides that it is difficult.
