Tax Foundation Says More Taxes Are Dangerous

The Tax Foundation recently released a report asserting that... increases... [on] personal income taxes, and cigarette and alcohol taxes will not serve the states well when the economy starts to improve... [Author Joe Henchman] says that increased reliance on the volatile personal income tax will only exacerbate fiscal problems in the future as tax revenues soar in good times and plunge in bad times.

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But states are faced with significant budget problems. They must raise taxes, cut services, or some combination. Most states are wisely doing both.

View TaxAnalysts' David Brunori's opinion in its entirety on TAX.com.