This is a longer thread, but it's important that the truth about why we need to support #InvestInEd gets out there, because the opposition’s argument about Prop. 208 harming small businesses is bogus. Here’s why:
The only people who will pay the small additional education funding surcharge are single people making over $250k or married couples making over $500k. And the surcharge only applies to the income above those levels.
So, in other words, if you’re a married couple making $501,000 you’ll pay a new surcharge of only $35 on the additional $1,000 in income above the $500k. That’s it.
Furthermore, and I can’t stress this enough – this doesn’t tax business income of any kind. Small business owners don’t pay taxes on money they make that is used for paying employees, rent, utilities, etc. Those things are written off as business expenses.
They would only pay the tax on PERSONAL income, just like everyone else. It would make no sense for them to be treated differently than anyone else making this much money. That would be unfair. And let's not forget, most of these businesses got HUGE tax cuts in Trump's tax plan.
So, It doesn’t matter how a person makes that kind of money – they will pay the small surcharge only if they make over $250/$500k, whether they’re a small business owner, an engineer, a doctor, a professional athlete, or a teacher…ok, we all know that’s a joke...
Because a teacher will never come close to this salary. And that underscores the entire reason for Prop. 208!! We all know teachers are underpaid and our schools are underfunded. They have been for over a decade.
So, what has the business community done to help fix the long-term education funding problem? Nothing….as Lisa Urias points out in this column: azcentral.com/story/opinion/…
The business community had years to come up with a long-term solution for K-12 funding, but instead they’ve opposed every effort to increase money for our kids’ education. They’ve failed Arizona.
We can’t accept failure any longer. We can put money into our schools this November. Don’t believe the lies. Vote YES on Prop. 208. #InvestInEd
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