Once again, a rich old geezer says he does not have enough. The idea that taxes are increased 77% is manipulation of numbers. The increase is 3.5% only on the amount above $250,000 (individual) or $500,000 (joint). Imagine, if you will, that you are that small business owner with an adjusted gross income of $600,000 and filing jointly. The tax on the $100,000 is $4500 currently, and $8000 under Prop. 208. You will “keep” $95,500 currently or $92,000 under Prop. 208 of the $100,000. How many see these amounts are 77% different? Will you make a decision to move your business for $3500 in taxes (increase of 0.0583% on the total $600,000)? Do not be fooled by statistics. Fund education. Penny wise and pound foolish.
Disclaimer: As submitted to the Arizona Daily Star.
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