Tagged: Arizona
Patriot Week In Review: Congressman Crawford Calls, KARK Won’t Quit, & The Day Death Died
Here’s a list of our top stories from this week:
- Congressman Crawford called me. He told me his millionaire surtax plan would only break his no-tax pledge if he voted for it–and he does plan to vote for it, if it makes it to the floor of the House–but ‘it would be worth it.’
- KARK continues their assault on journalistic decency. This time, Coach Bobby Petrino was the victim. The Patriot offered heart-felt prayers to Mark Zuckerberg on Coach Petrino’s behalf, per the request of KARK.
- Obama is against judicial review! Except when it fits his agenda, of course.
- Arizona leads the way on education reform. They’ve set the bar pretty high for Arkansas & the rest of the country.
- 2nd episode of Patriot Talk released. A guest & I review the Obamacare Supreme Court hearings.
- Arkansas Business, other blogs pick up on our KARK story. Also, KARK’s news director lies to me, and I explain my outrage further.
- Remembering why we celebrate Good Friday. The day death died.
Arizona Expanding School Choice, Leading the Way for the Nation
From our friends at Goldwater Institute:
Gov. Jan Brewer is poised to expand one of the most liberty-enhancing education reforms in U.S. history, the latest step in her
growing legacy of meaningful education reform.
Last year, Gov. Brewer’s signature created the nation’s first education savings account program for K-12 students, which allows parents to use state funds to customize their child’s education. With these savings accounts, the state deposits 90 percent of a student’s per pupil funding in a private account managed by her parents. Parents can use the funds for private school tuition, tutoring services, online classes, and textbooks, as well as several other educational services. Families can also save the funds for college tuition.
Under current law, students with special needs are eligible for the accounts. The proposed expansion now on the governor’s desk would extend eligibility to 94,000 students in chronically failing public schools, as well as academically gifted students and students in military families.
Alright Arkansas, the bar has been set.
Arizona Considers Eliminating Capital Gains Tax
The state of Arizona may be on the verge of strong economic growth. Why? They’re considering eliminating their capital gains tax.
A similar proposal was put forward by conservatives in the Arkansas House last year, spear-headed by Rep. Ed Garner, and I strongly suspect it will be a topic of discussion once again in the 2013 legislative session.
Some facts about the capital gains tax, from Goldwater Institute:
- States that have lowered their taxes on capital gains have seen higher investment and ultimately, job creation.
- When New Mexico, dropped capital gains taxes to a lower rate than standard income tax rates, venture capital nearly quadrupled.
- Between 2000 and 2007, states that had low capital gains taxes had job creation rates that were 35 percent higher on average than the states that tax capital gains at higher rates than ordinary income.
- Goldwater estimates that elimination of the tax could increase investment in Arizona by $30 million in the first two years and create more than 3,000 new jobs by 2016.
As Stephen Silvinski explains,
Taxation of capital gains is, among other things, a tax on entrepreneurship. Businesses – new businesses especially – need investment to flourish.
And of course, as I always say: Businesses don’t pay taxes. Consumers do.
If Arizona passes the bill (HB 2815) they would be the first state to completely abolish the tax. Hopefully Arkansas will follow suit. 3,000 jobs sound pretty good about now.
Nic Horton
