Saturday, January 8, 2011

Georgia's New Tax Plan will negatively impact seniors

Currently in Georgia, seniors may earn up to $30,000 from pensions or retirement savings interest without paying state taxes on it. This ruling was put in place to help seniors survive on a fixed income. It was also meant to attract out of state seniors who might otherwise consider moving to tax free states like Florida,Tennessee, or Texas to retire in.

Now a new plan is being proposed that would eliminate that exemption, and also add a new state sales tax to life necessities such as groceries.

The new Georgia tax proposal is simply a ruse to increase taxes on seniors and the poor, and give tax breaks to businesses and the wealthy. It means a huge reduction in disposable income for seniors, and a jump in the cost of living that will not be reflected in any social security increase. Is this what they mean by fair tax?

With the rush of Georgia to become a single party state with a business first attitude, and a focus only on the desires of the rich and their lobbyists, who is going to speak for and protect the old, the weak and the poor, a cultural value that our country used to pride itself on?

With this Georgian attitude, Florida looks better all the time to the large and growing population of Georgia seniors. How is it going to help Georgia when all the money they spend moves south?

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