For some, instituting a state income tax (voting yes for Initiative 1098) may seem the best approach to solving our revenue problems. Bill Gates Sr., seems genuinely sincere that, since only a very small percentage of the population will be affected, the majority of voters should favor this method of budget balancing.
He takes great delight in asserting that our schools will be improved, our property taxes lowered and the B&O taxes reduced. He implies that none of the revenue will go to the “general fund.”
As a one-time resident of other states that convinced voters to allow gambling so that its revenues would be dedicated to education improvement and property tax reduction, only to find that the new revenue sources were quickly shifted to the general fund, I find Gates’ remarks rather disputable.
It is more likely that any new taxes imposed upon the so-called “rich” would soon be diverted to maintaining the status quo, followed by an income tax applied to all classes as soon as legislatively possible.
I urge voters to reject I-1098.