Chuck Hassebrook: Ricketts' tax plan is unfair to average Nebraskans

[Omaha Steve]

Marta and I voted for Hassebrook.

Nebraska has a $900 million gap between projected spending and tax receipts over the next two years. And he want to give tax cuts to the top.

Gov. Ricketts is the son of a conservative billionaire. The family owns the Chicago Cubs.

OS

The writer, of Lyons, Nebraska, is a former University of Nebraska regent and the 2014 Democratic nominee for governor.

Gov. Pete Ricketts’ income tax proposal would rig Nebraska law to give high-income earners the lion’s share of any tax cuts over the next decade.

It’s unfair to families whose earnings have not kept pace and who are already paying more than their share of taxes.

The bottom 80 percent of Nebraska earners pay 9 percent to 11 percent of their income in state and local taxes. The top 20 percent pay less — just 8 percent. The top 1 percent pay least — just over 6 percent, all according to the Institute on Taxation and Economic Policy.

Nevertheless, the governor has proposed a series of eight reductions in the top income tax rate if state revenue projections meet certain targets. It was introduced as Legislative Bill 337. Eighty-six percent of the benefit would go to the 20 percent of Nebraskans with the highest incomes, according to analysis by the Institute on Taxation and Economic Policy.

FULL story: http://www.omaha.com/opinion/chuck-hassebrook-ricketts-tax-plan-is-unfair-to-average-nebraskans/article_2bcf08ff-3555-58cb-8218-ded6e2678569.html

[Trust Buster]

1. All Republican Governor's are doing the same thing including mine (Kasich) in the state of Ohio.

They are cutting taxes on the wealthy and raising sales taxes. A classic redistribution upwards.