Why aren’t the Democrats pushing for a sales tax reduction?
AUSTIN, Texas — Texas homeowners could be looking at additional property tax cuts on the horizon thanks to a new Senate bill.
On Thursday night, State Sen. Paul Bettencourt (R-Houston) filed Senate Bill 4, which would increase the homestead exemption to $140,000 and $150,000 for homeowners ages 65 and older or disabled.
Who relies on property taxes, schools, cities, and county governments.
I will be honest: I don’t like paying taxes, but I get more from the city than the state. I will take a property tax reduction but wish that they would lower the sales tax on which the state relies. When the house was not paid for, I saved all my receipts to get a sales tax reduction from my federal income tax. Now, it is better for me if I claim the general deduction.
While I no longer save my receipts according to the credit card I use the most, I spent nearly $20,000 on taxable items.
$20,000 x .625 = $1,250 in sales taxes. That is a lot of money going to the state, and what do we get from that? Nothing that I care about, or if there is something I haven’t found it yet.
Why aren’t the Democrats pushing for a sales tax reduction?
Where is the “Tax Man” hiding? Why isn’t he pushing for the state of Texas to lower its taxes? Because he is in on it, spending our money as if they and only they know how best to spend our money. Paul Bettencourt is the “Tax Man.”
Texas’ Republican leadership wants to raise the taxes that consumers pay when they go shopping in order to lower the taxes that homeowners and business owners pay on their properties.
How would that work?
The state sales tax would rise from 6.25% to 7.25%, generating an estimated annual $5 billion in coming years. That would take the total sales tax in most cities to 9.25% because local governments can raise the sales tax an additional 2 percentage points. Supporters say a higher sales tax rate would generate enough revenue to buy down property tax rates by 20 cents per $100 valuation at a time when Texas homeowners and businesses are feeling squeezed by rising bills.
But raising the sales tax would cause poor Texans to pay a higher percentage of their income in taxes while the richest Texans and businesses are most likely to enjoy tax relief under the proposal.Source
