As the owner of a tax preparation service, I have seen first hand how our tax system has not kept up with our needs. Until recently we have had a projected debt every year for the past 10 years. With some of the changes in the 2017 session we may be looking at projected debts in the near future unless action is taken soon.
We collect 3 types of taxes in this state: Income, Sales and Property taxes. However, we also have what I consider a hidden or 4th tax called “Miscellaneous Fees” which are all the government fees that are tacked on to our utility bills, city fees like streetlights and drainage ditch fees, building and repair permit fees, etc
We need to plan our tax system so we are not leaving anyone behind or out in the cold due to a Regressive tax system. High property taxes cause many older people and lower income families to lose their housing. Sales tax charged on everyday items that are necessary to live affects the middle and lower class families as more of their income goes towards taxes.
We need to work away from the current personal tax system and move towards a single, personal tax system. In a single, personal tax system we would only have one taxing authority. We would still have many entities such as cities, counties, and school district's paying taxes) but they would all be calculated and collected by one system.
We could remove the current 3 types of taxes and replace them with just an income tax and environmental/health impact initiative.