Sunday, September 14, 2014

Retired Accounting Professor Gary L. Maydew: "SOMETHING IS WRONG IN KANSAS" @ the Des Moines Register

[Excerpt] ....
Most public finance experts view a moderate form of progressive equity, i.e., taxing higher-income individuals at a higher rate, as preferable to a flat-rate tax.

Two years ago, Kansas went off the fiscal track. The Legislature, under the encouragement of Gov. Sam Brownback, passed laws that contained gross violations of vertical as well as horizontal equity.

The tax was aptly described in a Lawrence Journal-World article by University of Kansas tax professor Martin Dickinson as the most regressive in the nation. The tax act eliminated the state income tax for all businesses organized as sole proprietors and pass-through entities, leaving only wage earners and those with investment income left to pay state individual income taxes. ... [End of Excerpt]

Read more at the Des Moines Register.


Gary L. Mayde said...

Appreciate your excerpts. However,
I am not a Professor Emeritus,
instead a Retired Accounting Professor.

Michael Caddell said...

Well you should be!
I've made the correction.