Flores implies margin tax is not fair, equitable or sustainable
When you’re right, you’re right. And in detailing some of the problems with the margin tax, Lt. Gov. candidate Lucy Flores is spot on.
On Tuesday, asked via email by the Review-Journal to clarify her position (on the margin tax), Flores wrote:
“I mean that it’s not the solution that I favor,” she said. “I prefer a broad-based approach — one that is fair, equitable and sustainable.”
So let’s see.
The margin tax would greatly impact some industries more than others. For instance, in Texas, law firms can deduct more of their expenses than can farmers. So farmers end up paying proportionally more of the tax than lawyers. That’s not fair or equitable.
The margin tax also hits business that are losing money. That’s not sustainable.
I couldn’t agree more with Assemblywoman Flores. The margin tax isn’t fair, equitable or sustainable.
Unfortunately, there are even more problems with the margin tax than that, but it’s great to see the candidate at the top of the Democrat’s 2014 ballot spelling out for voters the many problems of this proposed tax increase.