Wither tax reform?
Tax: A forced contribution for governmental purposes. Reform: To improve by removing, amending, or correcting faults or problems.
Tax reform: The new third rail of politics?
Two years after Kentucky Gov. Steve Beshear's Blue Ribbon Commission on Tax Reform submitted its final report, and along with it more than 50 approved recommendations designed to reform the overall Kentucky tax structure, climate and processes, where does the reform initiative stand?
With then Lt. Gov. Jerry Abramson on point, the commission was convened by the governor with a five-guiding-principles mandate: Reform needed to be reconciled with and supportive of the concepts of fairness, competitiveness, simplicity and compliance, elasticity and adequacy. And to a similar end, the commission was charged with five-overarching goals:
1) Create a tax code that competes for quality jobs.
2) Help Kentucky's signature industries thrive and expand.
3) Create a healthier Kentucky work force to attract jobs.
4) Modernize the tax code to acknowledge changes in the economy and technology.
5) And moodernize the tax code to acknowledge changes in competitor states
To read the full article, click here.