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Article: Into a corner.(new Arkansas taxes)
- Article from:
- Arkansas Business
- Article date:
- July 21, 2003
- Author:
CopyrightCOPYRIGHT 2003 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JOHN PRINE IS RIGHT: IT IS A big old goofy world. And nothing is goofier than trying to make sense out of tax policy.
Last week, the Bush administration acknowledged that the federal budget deficit would be $455 billion in the fiscal year that will end Sept. 30 and $20 billion higher next year. A chunk of that deficit will go into the mail later this week, when the IRS starts sending out checks of $400 per child for parents with kids under 17.
Meanwhile, the city of Little Rock is asking for another 1/2 cent sales tax in order to make--this part is indisputable--much-needed repairs to the city's infrastructure. You know your city government is desperate ...