And it would still raise taxes on low and middle income households next year
Even with the income tax fully eliminated, the Senate plan would give the typical household in WV a net tax cut of only $147, or 0.34%.

Households in the top 1% would get a tax cut of $34,322, or 4.4%
Those right above 35,000 will actually see a tax increase, as they won't qualify for the sales tax rebate, will only see small savings from the income tax cut, and will get all of the tax increases.
Who might those people be? New teachers for one…

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Sean O'Leary

Sean O'Leary Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @OLearySW

7 Apr
While we wait, the fiscal note on the governor's original bill has some interesting information about other taxes in the 9 states without income taxes…
The average sales tax rate in Florida is 7.08%. Among other tax base differences, sales tax applies on the lease of commercial real estate and on public utility services (e.g., electricity and water) provided to businesses
Several excise taxes are much higher in Florida, including beer (167% higher), wine (125% higher), snuff and chewing tobacco (608% higher), cigarettes (11.6% higher) and motor fuel (18.9% highe
Read 33 tweets
6 Apr
Flashing back to 2017's extended special session. Included in that call - phasing out the income tax, raising the sales tax, and tiering the severance tax.

It didn't work then, and nothing has changed since…
In 2017, Jim Justice asked us to "Remember Who Brung You To This Terrible Dance"

Who brung us this year?…
I had forgot all about "mediator in chief" Justice sending the legislators to their rooms and going back and forth trying to sell his tax plan…
Read 4 tweets
5 Apr
ICYMI: The Senate’s tax plan, just like the Governor’s, is another tax shift, with the savings from eliminating the income tax wiped out by regressive increases to sales and grocery taxes for most low and middle income West Virginians.… Image
None of the income tax plans proposed by the governor, House, or Senate, have been revenue neutral as promised, meaning substantial budget cuts will be necessary, and soon. Image
And we know where those cuts will happen: eliminating the Promise, defunding colleges and universities, ending health and education programs, and 20% across the board budget cuts, in addition to regressive tax increases are all on the table…
Read 6 tweets
4 Feb
Unemployment claims remain high in West Virginia, as another 2,550 initial regular claims were filed last week, along with another 1,700 PUA claims
Continued claims rose to 23,990 for the week ending 1/23, up 2,477 from the week prior. Continued claims had dipped below 20,000 briefly in December, but have been rising ever since.
As I expected continued PUA claims jumped back up, now that uncertainty over the program's extension has passed. For the week ending 1/16 WV had 16,951 continued PUA claims, up from 8,535 the week prior.
Read 5 tweets
3 Feb
If the plan to eliminate the income tax is "revenue neutral" as Blair claims, then there would be no need to be "finding efficiencies in state government."
But since the plan is obviously not going to be revenue neutral (otherwise why do it?), here's what "finding efficiencies" might look like…
"Finding efficiencies" is an odd euphemism for "eliminating all state funding for WVU and Marshall and ending the PROMISE scholarship"…
Read 4 tweets
2 Feb
Last week I outlined what eliminating the the income tax in WV might look like, including a big increase in the sales tax, and major cuts to higher education and other public services.

It seemed over-the-top, but it turns out, that's what the plan is.…
Under this plan, which is typical of plans to eliminate the income tax, would ask most West Virginians to pay more in taxes and get fewer services in return, provide less investment in education and health care, all in order to give a tax cut to the wealthiest in the state.
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!