Tax reform in Georgia

"House Speaker Glenn Richardson (R-Hiram) has filed a long-awaited measure that would completely overhaul Georgia's tax code under a model created by former Reagan economist Arthur Laffer.

"It is time to bring Georgia into the 21st century," Richardson said, "and in order to do that we must change the burdensome, antiquated ad valorem tax system we currently have."

Introduced on the penultimate day of the 2007 legislative session, House Resolution 900 would let Georgians vote in November 2008 to ditch all current state and local:

* property taxes;
* sales taxes;
* income taxes;
* gas taxes;
* estate taxes;
* unemployment and worker's compensation taxes;
* gross receipts taxes;
* insurance premium taxes;
* business and occupation taxes;
* intangible taxes; and
* utilities taxes

In their place, the state would collect a 5.75 percent flat income tax and what amounts to a 5.75 percent sales tax without any of the current exemptions. Georgia's income tax today is 6 percent; the state sales taxes is 4 percent." Read more at the Atlanta Business Chronicle.

The Patriot Post reports that "Richardson is optimistic about this plan, which if passed by the legislature will be placed on the November 2008 ballot for voter approval. He says, 'I believe the [Georgia] House tax reform plan will be the talk of the nation.' If it stirs up federal tax reform, all the better."