Thread by @SeanJohn1313

@mlcard33 1) This will take a thread so bear with me.

Let's start by looking at how things are now. Texas has no Income tax. That's why we pay higher property taxes than most states. If property taxes were ever to get so high that Texans could no longer afford their homes we have

@mlcard33 a safety net to save us (and our homes). That safety net exists in the ability to implement a state income tax. Current law says that, should Texans implement an income tax, the revenue MUST go towards lowering property taxes and funding education.

@mlcard33 What would it take to implement an income tax? Currently it would take a simple majority in the House and Senate before the final decision goes to voters like you and me. We have the final say.

So let's look at what Prop 4 does...

@mlcard33 Prop 4 removes (repeals) the mandate that, should Texans decide they need an income tax, the revenue must go toward lowering property taxes and funding education. It erases that forever. Then it changes what it would take to implement an income tax. Rather than a simple

@mlcard33 majority vote in the House and Senate before being passed to the voters for a final say, it would require a super majority in the House and Senate (two-thirds) before allowing us voters to decide on it. Basically, it ensure that we will never get a say in the matter. But here's

@mlcard33 where it gets sneaky. Prop 4 uses the language "individual" rather than "natural person" as is common in the rest of the tax code. Since courts have already determined that a corporation is an individual, it leaves the door open for certain businesses to claim that they are

@mlcard33 exempt from certain taxes like the franchise tax. Why is that important? Because franchise taxes are used to fund education which keeps property taxes from getting out of control. Prior to 2015, franchise taxes brought in $1.8 Billion in revenue for education.

@mlcard33 When the Texas legislature decided to give a 25% tax cut to corporations, that revenue decreased to around $900 Million. Our property taxes went up to cover the loss of revenue. Franchise taxes are expected to bring in around $8 billion in 2020. If Prop 4 passes

@mlcard33 certain businesses will challenge the tax law and claim exemption from paying franchise taxes. Our property taxes will go up to cover the difference. So let's say that property taxes increase so much that Texans can no longer afford their home. What would be our remedy?

@mlcard33 The answer is that there would be no remedy. Remember, Prop 4 repealed the law mandating that an income tax has to go toward lowering property taxes and funding education. We give that up if Prop 4 passes. But it really wouldn't matter anyway because we (the people of Texas)

@mlcard33 would never get a vote on it. Remember, Prop 4 changes the requirement for implementing an income tax to a super majority in the House and Senate. The measure would never make it to the ballot for our decision. In short (a little late for that now, I know).

@mlcard33 Prop 4 takes away the safety net we have against high property taxes, takes away our right to decide for ourselves whether an income tax would be beneficial, all but guarantees higher property taxes, and kills our ability to do anything about it.

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