revenue « Washington Policy Watch

January 16, 2012 • 8:12 am 0

Washington’s Equity Gap: Lower tax rates for higher incomes

Excerpted from Washington State Budget 101:

Most states have an income tax that makes their tax system more equitable across all incomes and better ensures public revenues keep up with population and economic growth. That means other states have been able to invest in their people and public structures, while Washington has fallen behind. Washington’s rank in K-12 spending fell from 34^th to 45^th compared to state personal income from 1998 to 2009, according to the U.S. Census Bureau.

Filed under: tax and budget, average, budget, k-12, personal income, revenue, taxes

January 13, 2012 • 8:51 am 0

An introduction to the WA state budget: Washington’s budget hole

Excerpted from Washington State Budget 101:

If Washington’s budget had grown at the same rate as personal income in the state over the past decade, the 2011-13 budget would be $13 billion higher – that would pay for a lot more teachers, lower college tuition, and better protection of the most vulnerable.

Filed under: tax and budget, budget, k-12, revenue, teachers, tuition

January 12, 2012 • 2:36 pm 2

An introduction to the WA state budget: We need more scrutiny of tax breaks

Excerpted from Washington State Budget 101:

While the legislature deals with budget gaps by cutting public schools, home health care for vulnerable seniors, preschool for low-income kids, and access to college, 100s of tax breaks for profitable corporations go unexamined. Not all tax breaks are bad, but when basic services are on the chopping block, tax breaks need to be prioritized.

Ending out of date and low priority tax breaks both addresses the current revenue shortfall caused by the recession and, once the economy recovers, can help fund educational and other improvements to keep our people and state healthy and competitive.

Filed under: tax and budget, revenue, state budget, tax breaks, tax exemptions, tax loopholes

January 12, 2012 • 8:44 am 1

An introduction to the WA state budget: Washington’s tax code guarantees future problems

Excerpted from Washington State Budget 101:

Washington’s tax code guarantees future revenue shortfalls

Because of Washington’s heavy reliance on the sales tax, budget revenue doesn’t match growing needs for education, health care and other public priorities. People are spending more on services, which are mostly not taxed, and buying more over the internet, mostly tax-free. Even as population and incomes go up, sales tax revenue does not keep up with the need for state services.

Filed under: tax and budget, revenue, sales tax, shortfall, state budget, tax code, tax reform

Washington Policy Watch

Washington’s Equity Gap: Lower tax rates for higher incomes

An introduction to the WA state budget: Washington’s budget hole

An introduction to the WA state budget: We need more scrutiny of tax breaks

An introduction to the WA state budget: Washington’s tax code guarantees future problems

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