By now, many have heard of the EPIC Consumption tax (https://epicoption.org) and the proposed changes. I have some issues with the proposal but I am not going to be the guy saying, “well, I don’t like how you dot your i’s and cross your t’s”. For those who disagree with the proposal, come up with a better proposal. I assure you, they cannot come close.
I much prefer we scrap the current tax policies, and bury them and cry about the death of such tax system (sorry, there may only be about 3 to 8 people who would actually cry), instead of keeping the current system and listen to people whine, bitch, and moan about the current tax system.
I gave up on the Platte Institute a while ago because they are more interested in titles for their staff and tiny incremental changes in the law. You would think they would be pushing more for tax reform but they just are not there or not enough to attract my interest. Even conservative governors Heinman and Ricketts failed to understand the depth of the problem. I know because I have directly asked them these questions and they failed to understand the depth of the problem.
Heineman said businesses were more concerned about Nebraska’s income tax and Ricketts has openly opposed a tax shift. At the same time, many people of Omaha are complaining about affordable housing. All of this points to the problem of excessive property taxes which they did not understand. The sewer-separation fee only adds to the pressure in Omaha.
Nebraska’s property tax system supports predatory practices. Your mom dies. You are in charge of carrying out her will. In the process, you find she has not paid property taxes for the last few years, so someone else has paid them for her. To get the property back, you have to pay the taxes plus 14 percent to get the property back. If you do not, the investor will take the property. Who wants to defend this?
Those who defend the current system are basically saying if you need a babysitter, consult the sex offenders registration list. I am certain you will find someone on the list to babysit your kid for free and feed them too. But what sane person would take such an offer?
I want to make this emphatically clear. We are far better off in abandoning the current tax system in favor of a new taxation system and dealing with any negative consequences later. Keeping the current taxation system is a terribly large mistake. Nebraska’s tax system is stuck in the 19th century and needs to change. People fear change but this change would do an immense amount of good. The detractors need to come up with better ideas and as of now, they have none.
Anything that improves and makes the taxes less onerous is something I'm going to support.
As to the EPIC proposal, it would make us competitive with Florida in the tax arena. We can't hope to compete with them when it comes to sunshine and beaches, but we have other good things going for us here too, and attracting new population growth from the right source (taxpayers) is a good thing.
I really like the modified EPIC proposal. It makes sense for our small state with increasingly limited resources so we can boldly strike a reform that puts us ahead of our competitors. Complicated but finally achievable. Hal