Post from erichouseholder at CHUMLY

The Loss of Prosperity!
It used to be the case that the sole purpose of the tax code was to raise the necessary funds to run government. In today’s world taxes play many other roles, including redistributing income and rewarding favored industries with tax incentives and tax credits. When I ran for office in 2010, I believed that our state should be offering broad base tax relief to increase our economic prosperity that had been lost back in 1961 when WV instituted a state income tax.
The results from initiating a progressive state income tax haven’t been pretty. We’ve seen our state’s citizens prosperity dramatically reduced, and we have seen our state’s population declined over the years as more and more young people leave this state in search of more economic freedom.
What can we do to improve the economic climate, to create jobs, and to restore prosperity in WV? I believe WV has the opportunity to establish itself as the leader for economic freedom by implementing a complete phase out of the state’s income tax. This would create a long lasting economic boom benefitting generations to come.
A phase out of West Virginia’s personal income tax would result in WV having the lowest tax burden of any state except Alaska. Eliminating the personal income tax would provide West Virginians with approximately the following savings in state personal income taxes (2010 WV tax tables):
Single person, Gross Income of $30,000 – Savings would be $1,125
Family of 4, Gross Income of $50,000 – Savings would be $2,174
Family of 4, Gross Income of $60,000 – Savings would be $2,774
Family of 4, Gross Income of $75,000 – Savings would be $3,748
Family of 4, Gross Income of $100,000 – Savings would be $5, 373
The gradual elimination of the individual income tax would simultaneously improve West Virginia’s economic environment by eliminating the tax on individual income, and it would reduce the overall cost of government on the taxpayers. I will continue to support ideas that will lower our tax burdens, restores economic freedoms, and reduces the growth of our state government. The time is now for us to experience a greater economic growth by implementing broad based tax reforms, instead of chasing the failed progressive policies of the 1960’s!
http://chumly.com/n/eec068